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INVESTING - I would like to come to Cape Verde to find work, are there opportunities?

INVESTING - I would like to come to Cape Verde to find work, are there opportunities? Working in Cape Verde

Working in Cape Verde

There are more British, Irish and other nationals living and working on Sal Island than any other island in Cape Verde. Some may have moved out having carried out some research, while others may have already experienced life on the islands and have made the decision to move over for longer periods or permanently.

Before 'upping sticks' as they say and taking the plunge and moving out to Cape Verde, please carry out plenty of research. We know things aren't brilliant in many countries, but moving to Cape Verde to gain employment or run a business could provide you with more stress than you had expected. It isn't "No Stress Cabo Verde" when working on the islands for many people.

You should consider visiting an island a few times to find out more information before making a permanent move. Get to know some expats and what they do on the island socially, or if they work and where. For those that can, a longer stay on an island is recommended and for some, they can visit other islands using one island as a base.

If you don't mind working for a small wage you could work in some bars, but be prepared to only earn 2 euros an hour. Employment in Cape Verde is mostly taken up by Cape Verdeans and Africans. The low monthly wage for people working here in restaurants, bars and building trade would not be able to support most Europeans on a weekly basis. Average wage is 200euros per month. Some locals work 6 days a week and for less money.There may be employment for the winter season, then no employment for the summer. Please don't expect to get a European wage just because you are European, you would need to find a more professional job based on your experience, qualifications and language skills, but then it still could be difficult.

In the past Cape Verde tourism declined during the summer between May - October, the main reason for this being the reduction of the number of the Winter Sun Charter companies flying tourists into CV at the end of the winter season. However some flights are now continuing to operate throughout the summer and there are more flights and operators offering package holidays or flights to Cape Verde, since the open sky policy was introduced. More hotels are opening too, providing more jobs for local people but then usually with international management.

If you are thinking of moving over here to work, take into account the fall in tourism between May - October. A number of businesses close for a month or more during the summer. People working in the Real Estate or Time Share business will also see less people out and about or calling into offices to enquire about property so finding a job or earning commission through selling property could also be a challenge during this period.

You may be able to offer tours, set up a rental business, offer services to investors and expats. Make contact with people and owners of businesses or services that are already set up in CV. They may have some work available that would be of interest to you, know of someone else looking to employ people with particular skills and abilities or they may be able to share their knowledge or experience with you about setting up your business. It goes without saying you should also seek professional advice!

Setting up a business

A few businesses and services have opened and closed for various reasons. Hopefully those that are just starting up will have studied their business so that they can build on it and remain in Cape Verde. It hasn't been easy here for a many people.

Any new business being set up that relies on tourism should also be wary of the summer period. There is more tourism during the school holiday periods, but not that much more. Even when there are more tourists it doesn't mean there will be more business if they aren't looking for your services.

Those looking to start their own business need to be aware that there is much more to learn about. Starting a business from scratch may involve initial outlay on goods, high importation costs, transport and services, learning about employment regulations for staff, business taxation, licences, IUP, obtaining of NIF number, paying for business signage, rubbish collection (even if you don't have any), cost of replacing items (where to get them from e.g. abroad), shipping goods can be time consuming and expensive, on going costs each year and much more. These are all worth researching before you do anything.

One advantage is being able to speak a number of languages including Portuguese, as that way you can deal directly with suppliers, the authorities, lawyers and other services.

Taking over a business may be less costly if the furniture and licence already exists, but look at the figures and dig into why the business is for sale or lease.

It's a big learning curve for many expats and it's an ongoing one, even for owners of businesses that have been running for a number of years.

Cape Verde obtained it's independence from Portugal in 1975. The laws of Portugal remained in the main the law of Cape Verde and as such they still to a certain degree continue to follow the same laws in many circumstances. There is little information provided in English about working in Cape Verde or setting up a business, as such I have provided an informative link, not to be taken as factual for Cape Verde, but provide you with an insight as to what may be required if you were looking to set up a business in Cape Verde. LINK: STARTING A BUSINESS IN PORTUGAL

Other things to consider:

Schools and education, medical provision and hospitals, distance from home country, emergency situations.

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