Business Reforms in Cabo Verde
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Dealing with Construction Permits: Cabo Verde made dealing with construction permits easier by publishing all regulations related to construction online free of charge.
Trading across Borders: Cabo Verde made exporting and importing easier by implementing an automated customs data management system, ASYCUDA World.
Resolving Insolvency: Cabo Verde made resolving insolvency easier by adopting a law that introduces a reorganization procedure and facilitates continuation of the debtor’s business during insolvency proceedings. The law also allows creditors greater participation in important decisions during insolvency proceedings.
Labor Market Regulation: Cabo Verde introduced unemployment insurance for workers with a contribution period of at least six months.
Registering Property: Cabo Verde made transferring property less costly by lowering the property registration tax.
Getting Credit: Cabo Verde improved its credit information system by adopting a new law providing for the establishment of credit bureaus.
Labor Market Regulation: Cabo Verde introduced a minimum wage.
Starting a Business: Cape Verde made starting a business easier by reducing the minimum capital requirement.
Registering Property: Cape Verde made property transfers faster by digitizing its land registry.
Registering Property: Cape Verde made registering property faster by implementing time limits for the notaries and the land registry.
Getting Credit: Cape Verde improved its credit information system by introducing a new online platform and by starting to provide 5 years of historical data.
Starting a Business: Cape Verde made business start-up easier by eliminating the need for a municipal inspection before a business begins operations and computerizing the system for delivering the municipal license.
Registering Property: Cape Verde eased property registration by switching from fees based on a percentage of the property value to lower fixed rates.
Paying Taxes: Cape Verde abolished the stamp duties on sales and checks.
Starting a Business: Cape Verde made starting a business easier by implementing an online company registration system.
Getting Credit: Cape Verde improved access to credit information by allowing online access to the central bank’s credit information database for financial institutions providing and retrieving information. At the same time, Cape Verde raised the minimum threshold for personal loans included in the database from 1,000 to 5,000 escudos.
Paying Taxes: Cape Verde made paying taxes less costly for companies by reducing the corporate income tax rate.
Labor Market Regulation: Cape Verde reduced the maximum duration of fixed-term contracts, increased paid annual leave, introduced a retraining or reassignment obligation and increased the notice period in cases of redundancy dismissals.