Tentmaker Reports

Cabo Verde Report

Entrepreneurial Missions Index

24.8

General Information

Population

507,258 (158th most populous country in the world)

RELIGIONS
Roman Catholic
Protestant
LANGUAGES
Portugese
Crioulu

Industries

Food and beverages, fish processing, shoes and garments, salt mining, ship repair

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Cabo Verde, visit https://www.cia.gov/library/publications/the-world-factbook/geos/cv.html.

Business Information

The World Bank ranks Cabo Verde as 118 out of 183 economies in terms of ease of doing business. The country ranks as 127 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Cabo Verde.

In order to start a business in Cabo Verde, one must follow these procedures:

  1. Search for company name and reserve the proposed name
  2. Deposit the legally required initial capital in a bank and obtain deposit evidence
  3. Registration with the commercial registry
  4. Obtain municipal license
  5. Receive license inspection from municipality
  6. Register workers with the Social Security Office
  7. Register workers with accident insurance at insurance company
  8. Register workers with labor inspectorate
  9. Obtain and legalize the special company books

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Cabo Verde, visit http://www.doingbusiness.org/.

 

 

Cabo Verde Economic Freedom

The annual survey Economic Freedom of the World is an indicator produced by the Fraser Institute, a libertarian think tank which attempts to measure the degree of economic freedom in the world's nations. Economic Freedom of the World index has been more widely used than any other measure of economic freedom, because of its coverage of a longer time period

Their measure of economic freedom is based on that the following standards:

  • Personal choice rather than collective choice,
  • Voluntary exchange coordinated by markets rather than allocation via the political process,
  • Freedom to enter and compete in markets, and
  • Protection of persons and their property from aggression by others.

A state will rate high when it focuses on protection of people and their property from the actions of aggressors, enforcement of contracts, and provision of the limited set of public goods like roads, flood control projects, and money of stable value and little else, but a country’s rating on the EFW summary index will fall as government expenditures increase and regulations expand.   

 

Cabo Verde Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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