Investment Property in Cape Verde
Politics
Multi-party democracy
Cape Verde became independent from Portugal in 1975, and was originally run under a one-party political system established by the African Party for the Independence of Guinea and Cape Verde. The party subsequently became the African Party for the Independence of Cape Verde (PAICV) in 1980. The PAICV was in power up until 1991 when public pressure led to multi-party elections in which the opposing Movement for Democracy party won and came to government, and Cape Verde became a multi-party democracy.
Major parties
The PAICV came back to power in 2001, and won the 2006 parliamentary election to hold office for another five-year term. The party has left behind its Marxist origins and now accepts and supports democracy and the market economy. The PAICV and the Movement for Democracy party are still the two major parties of Cape Verde.
Government structure
The Cape Verdean government is based on a constitution adopted in 1980 (subsequently revised in 1992, 1995 and 1999). The head of state is the president, who is elected to five-year terms by popular vote. The head of government is the prime minister, nominated by the National Assembly and appointed by the president, and it is the prime minister’s responsibility to propose ministers and secretaries of state. Cape Verde is made up of 17 administrative districts.
Judicial system
Cape Verde’s legal system is similar to the Portuguese system, who ruled the islands until the islands’ independence in 1975. The judicial system in Cape Verde consists of the Supreme Court of Justice, the National Assembly, the Board of the Judiciary, and regional courts. Civil, criminal and constitutional cases go to separate courts, while appeals go to the Supreme Court.
Reforms underway
Cape Verde has policies in place to reduce domestic debt, moderate public spending, privatise public companies and reform social services. It is largely unaffected by conflicts in parts of West Africa, violent crime is comparatively rare, and corruption is not a cause of great concern within the authorities and justice system of the islands. Cape Verde is currently seeking EU associate status.
Related items
Documents and Reports
Cape Verde property investment report (325Kb) |
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