From personal experience no.

Ask other expats about their experience in applying for a Residence Card (it's not called a visa).

All foreign nationals should apply for their Residence Card after obtaining 6 month visa's 3 - 4 times.

The paperwork you need to fill in includes 'anything else they require', there is no definitive list, though you may be given a list with a list of 12-15 documents required, however my list went up to 19.

There are cost implications to obtaining many of the documents for Police checks, Financial documents and more.

If your paperwork is accepted for your application for Residence, it will be sent to Praia on the island of Santiago for processing at the National Frontier Office.

If you have not received your Residence Card and your 6 month visa has expired during the time of waiting for the Residence Card to be issued, you have to pay another 5000ecv for another 6 month visa.

The Residence Card, when issued, has to be renewed every 12 months for 5yrs. I am informed that the paperwork required becomes less for renewal of the Residence Card each year. UPDATE:  However, 11 months after my application and documents were accepted at the local Police Station (before being sent to Praia on the island of Santiago for processing) I obtained my Residence Card, but instead of being for one year it was for 2 years, but dated as being authorised 3 months earlier (end of Feb). 

After you have successfully renewed your Residence Card for 5 yrs, they give you a Residence Card for 3yrs, well that's that I was told. However, please check with your Embassy for more accurate or updated information as things do change again!!