Cape Verde Bank Account

For Private Accounts:

• Proof of address (does not have to be from Cape Verde)
• Proof of income (pay slips or dividends are both accepted)
• Cape Verdean NIF (we can help with the application)
• Identity document from the country of residence
• Passport

For Company Accounts:

• Certificate of incorporation
• Company agreement
• Tax identification number of the company
• Certificate or declaration identifying the shareholders, directors and representatives of the corporate account with the following information:
  • Name
  • Date of birth
  • Nationality
  • TIN
  • Proof of address
  • Identity document
• Current criminal records of the members of the Board of Directors
• Reports and bank statements for the last 3 years or equivalent documents.

Both private individuals and companies that are either resident or non-resident in Cape Verde. In principle, accounts can be opened for individuals from almost all countries, with the exception of restricted countries (Syria, Iran, Afghanistan, etc.). It is not necessary to have connections to Cape Verde.

No! We will provide you with a power of attorney that you must sign so that our lawyers can represent you before the bank. We will then take care of the opening process for you.

However, you will need to physically send the documents to Cape Verde. Once the opening process has started, you have up to 30 days for your documents to reach the bank.

No, there are no asset or income requirements. However, there is a minimum deposit requirement of EUR 50 per account.

If the bank requires proof of address as documentation, we can help you obtain proof of residence from Paraguay if you also have Paraguayan citizenship or wish to apply for it.

That depends on where you are resident for tax purposes. In short:

If you live in a country that has remittance-based taxation (such as Malta, the UK, Ireland, Mauritius, Japan or Korea under the non-dom system), then a foreign bank account can help you pay less tax. If you live in a country with territorial taxation (such as Paraguay, Georgia, Uruguay, Malaysia), then a foreign bank account can help you pay less tax. If you live in a country with worldwide income taxation (such as Brazil), you will generally not pay less tax with a foreign bank account. There may be exceptions under special programs, such as Portugal's NHR.

Cape Verde participates in the CRS (Common Reporting Standard), the most important multilateral information exchange mechanism.

Cape Verde therefore exchanges information with most countries in the world, except those that are not part of the CRS, such as Paraguay.

The Cape Verde account is ideal for international transactions due to its integration with various payment methods and the low fees on the SWIFT network.

However, the bank also has its drawbacks:

• It doesn't offer credit cards with lounge access, like the Georgia or Panama account. In fact, there is not even a Visa or Mastercard credit card, only PAC.
• It does not allow direct deposits in cryptocurrencies, like the Panama account.
• It does not offer anonymity like accounts in the US, Dominican Republic or Paraguay (it is a member of the CRS).

Payment can be made via:

• Card, Pix and Zelle
• Transfers in EUR, USD and GBP
• Cryptocurrencies such as BTC, Stables, ETH and XMR

We can issue an invoice for the service. Please send us your desired billing address.

Yes, if you have specific questions about offshore accounts or residence permits and companies in Cape Verde, we will be happy to help you.

Simply book an appointment with our team.

If you want to set up a residence permit, citizenship or company in Cape Verde, we also have reliable lawyers and accountants who can help you with the process.

We will contact you to coordinate the account opening process.