FREQUENTLY ASKED QUESTIONS

What am I investing in?
YOU ARE INVESTING IN A FREEHOLD, UNENCUMBERED TITLE TO REAL ESTATE. THIS IS NOT A ‘TIME-SHARE WHERE YOU BUY A PERIOD OF TIME DURING WHICH YOU CAN USE THE PROPERTY. YOU OWN THE ‘BRICKS AND MORTAR’

What are the benefits of ownership?
A RETURN ON INVESTMENT OF 12%, BASED ON A GUARANTEED 5% RENTAL YIELD AND A PROVEN 7% CAPITAL GROWTH PLUS 5 WEEKS FREE USAGE FOR YOU EACH YEAR

How much do the properties cost?
PROPERTIES RANGE FROM C.€150,000 FOR A SUITE UP TO €600,000 FOR A 5 BEDROOM VILLA

Who values the properties?
GERALD EVE LLP, WHO ARE A MEMBER OF THE ROYAL INSTITUTE OF CHARTERED SURVEYORS AND SUBJECT TO ITS PROFESSIONAL STANDARDS

Who builds the properties?
GRUPO SAN JOSE ARE THE MAIN CONTRACTOR. THEY ARE ONE OF THE TOP CONSTRUCTION COMPANIES IN SPAIN HAVING BEEN OPERATING FOR OVER 50 YEARS

How do I pay for my property?
A MINIMUM 65% DEPOSIT IS PAYABLE FOLLOWED BY THE BALANCE 30 DAYS AFTER SALES CONTRACT COMPLETION

What fees will I be charged?
AN UPFRONT TRANSFER (IUP) TAX OF 1.5% TO BE PAID BEFORE THE DEED OF PURCHASE AND SALE, THEN C. €400 NOTARY FEES AND €500 LEGAL FEES ON COMPLETION. ONGOING COSTS INCLUDE MANANGEMENT FEES OF €1,500-€2,500 PER YEAR ON EACH PROPERTY, PLUS A PROPERTY HOLDING TAX OF 1.5% OF 25% OF THE PROPERTY VALUE EACH YEAR

Can I have my contract in my language?
CONTRACTS ARE GOVERNED BY PORTUGUESE LAW, SO CONTRACTS CAN BE TRANSLATED INTO OTHER LANGUAGES HOWEVER THE LEGALLY BINDING TERMS AND CONDITIONS ARE IN THE PORTUGUESE LANGUAGE

Can I view the property before purchase?
VIEWING TRIPS ARE AVAILABLE. A RESERVATION FEE OF €5,000 IS PAYABLE UPFRONT WHICH ENTITLES 2 PERSONS A FREE INSPECTION TRIP. THIS FEE IS REFUNDABLE OFF THE PURCHASE PRICE SHOULD THE CLIENT DECIDE TO PURCHASE

How is my rental yield paid?
RENTAL YIELDS ARE PAID EACH QUARTER INTO THE CLIENTS NOMINATED BANK ACCOUNT

Are my 5 weeks all inclusive?
THE PROPERTY IS FREE FOR THE 5 WEEKS. FOR CLIENTS WISHING TO HAVE AN ALL-INCLUSIVE EXPERIENCE, AN ADDITIONAL FEE OF €65 PER PERSON PER DAY IS PAYABLE

What if my property is rented out when I want to use it?
SHOULD YOUR OWN PROPERTY BE UNAVAILABLE ON ANY OF THE WEEKS THEN AN EQUAL ALTERNATIVE PROPERTY WILL BE OFFERED

Can I rent my property out directly?
THE CHOICE OF WHETHER TO PUT THE PROPERTY INTO THE HOTEL MANAGED PROGRAM (HMP) IS ENTIRELY THE CLIENTS. IF A CLIENT CHOSES NOT TO PUT THE PROPERTY IN, THEN THEY CAN RENT THE PROPERTY OUT THEMSELVES, TO FRIENDS, FAMILY OR COMMERCIALLY. THREE MONTHS NOTICE IS REQUIRED SHOULD A CLIENT HAVE THEIR PROPERTY IN THE PROGRAM BUT WISH TO EXIT. THIS IS DUE TO FORWARD BOOKINGS

Who maintains my property?
ALL PROPERTIES IN THE HMP ARE MAINTAINED BY THE MANAGEMENT COMPANY. THERE IS NO COST TO THE OWNER FOR ANY MAINTENANCE.

How child friendly is the resort?
MELIA DUNAS CATERS FOR FAMILIES, WITH 5 FRESHWATER POOLS AND BOTH INDOOR AND OUTDOOR CHILDRENS PLAY AREAS

Is there Wi-Fi at the resort?
ALL RESORTS HAVE DEDICATED WI-FI, FREE FOR GUESTS

How do I sell my property?
RESALES ARE MANAGED DIRECTLY, WITH PROPERTIES BEING OFFERED FOR SALE THROUGH AN EXTENSIVE AGENT NETWORK, ENSURING PROPERTY MARKET VALUES ARE MAINTAINED AND SALES ARE SECURED QUICKLY

What is the weather like?
CAPE VERDE HAS ALL YEAR-ROUND SUNSHINE AND CONSISTENT TEMPERATURES BETWEEN 24° AND 30°. THE ISLANDS DO NOT SUFFER ANY ADVERSE WEATHER CONDITIONS SUCH AS HURRICANES, TYPHOONS OR STORMS

Is Cape Verde a safe country?
A PUBLICATION IN THE DAILY TELEGRAPH IN NOVEMBER 2018 LISTED CAPE VERDE AS ONE OF THE TOP 10 SAFEST COUNTRIES IN THE WORLD

Can I get there easily?
THERE ARE 112 DIRECT FLIGHTS FROM 32 DIFFERENT COUNTRIES EACH WEEK, AND THIS IS BEING ADDED TO CONSTANTLY. FLIGHTS GO FROM THE UK 7 DAYS A WEEK

Do I need a VISA?
THERE ARE NO VISAS NEEDED TO ENTER CAPE VERDE

What medical facilities are there on site?
ON DUNAS THERE IS A PERMANENT MINI-CLINIC WITH 2 PARAMEDICS AND AN ON-SITE DOCTOR. THIS COVERS ALL 3 RESORTS ON SAL.

What activities/sports are available?
CAPE VERDE IS RENOWNED FOR ITS WATERSPORTS, PARTICULARLY KITE SURFING, WHERE THE WORLD CHAMPIONSHIPS ARE HELD REGULARLY. VISITORS CAN ALSO ENJOY ACTIVITIES SUCH AS WHALE AND TURTLE WATCHING, BIG GAME FISHING, WINDSURFING, SNORKELLING, HIKING, QUAD BIKING AND HORSE RIDING. THROUGHOUT THE YEAR THERE ARE VARIOUS CARNIVALS AND MUSIC FESTIVALS TO EXPERIENCE

Can I open a bank account?
A BANK ACCOUNT CAN BE OPENED AND A FISCAL NUMBER OBTAINED USUALLY WITHIN 24 HOURS WITH ONE OF THE MANY LOCAL BANKS ON THE ISLANDS

Does TRG support the local community?
THE COMPANY FOUNDED THE ‘CAPE VERDE FOUNDATION’ WHICH MAKES A POSITIVE CONTRIBUTION TO THE CAPE VERDE PEOPLE AND LOCAL COMMUNITIES ALIKE. THE CORE FOCUS IS HELPING THE CHILDREN BY OFFERING THEM TRAINING AND OPPORTUNITIES FOR THE FUTURE. THE COMPANY EMPLOYS OVER 3000 ISLANDERS ACROSS THE CURRENT OPERATING RESORTS

Can I get Cape Verde citizenship?
CITIZENSHIP CAN BE AWARDED TO ANYONE WHO INVESTS A MINIMUM OF €80,000 IN CAPE VERDE. RESIDENCY CAN BE APPLIED FOR AFTER 5 YEARS OF CITIZENSHIP

Is the Company financially secure?
THE COMPANY HAS BEEN IN BUSINESS FOR OVER 10 YEARS WITH A HISTORY OF STRONG FINANCIAL PERFORMANCE AND CORPORATE GOVERNANCE, WITH RETAINED ASSETS VALUED AT €140M

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