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Many come, many go, but those with perseverance succeed. The word is out. The Islands of Cape Verde are a fertile ground for investors. Both individuals and corporations looking for the potential that exists with the special balance of enough development to get things done, but not so much development that there is nothing left to do, are leaving their native countries and settling on the Islands. However, if you want to see your dream come true, you'll have to do more than just show up. Here are some steps that may help you along the way. 1. Research the Islands. Even though you may hear from word of mouth that the Islands are a good place to invest, treat this as you would any other investment. Research the Islands to find out if the environment is appealing to you. Cape Verde's U. S. Embassy's web site (www.capeverdeusembassy.org) provides comprehensive economic information about the Islands. A feel for the culture of the Islands can be found on Cape Verde's unofficial site (www.usmassd.edu).

The Republic of Cape Verde consists of nine inhabited and several uninhabited volcanic islands off the West Coast of Africa.   Most are rugged and mountainous; three are flat, desert islands with sand beaches. While the tourist industry is bringing ever growing numbers of tourists, facilities on most islands remain limited. Cape Verde enjoys a stable, democratic government. More Resources on Cape Verde C L I C K    H E R E .

2. Visit the Islands to decide if there is opportunity for your idea. The Government emphasizes fisheries, mining, agriculture, industry, services, international trade, and tourism as the most lucrative ground. But the same potential does not exist on every Island. You may also see opportunities while you are there that you had not thought of before. Do tourist speak of biking, but there are no bikes? Is there equipment on all of the Islands popular for waterpsorts that allow tourists to participate? Such an enterprise exist on one Island, but not another. This may be a relatively short trip, but if you plan to visit more than one Island, you will probably need at least three weeks. 

3. Make a return trip, planning this time to stay for an extended period of time. If, after your
initial visit, you decide that a market does exist for your idea, go back and spend at least three or four months there. Get to know the people, the social customs and the business environment. This will be time well spent and may be crucial to the success of your project. The country may have a European feel, but it is not Europe. Even Cape Verdeans living abroad and returning to the Islands for investment purposes must adjust to the business practices. 

The Islands are small, and in many ways are like any small town. While Islanders welcome investors, they also want to know that you are working to improve the quality of life of the people, not simply taking advantage of them. Spending time on the Island in which you want to invest will allow you to meet key local people who can guide you through your efforts. Are there competing efforts underway? Have there been other attempts to do the same thing? What were the barriers to their success? You'll only find this information on the Islands. You'll also have the opportunity to talk to other foreign investors. Many of them will gladly share their experiences and help you avoid the errors they may have made. 

4. Contact Promex. Established in 1990 to aid foreign investors in their investment efforts, you'll have to contact Promex at some point during your odyssey. You may want to contact them to aid you in your research about the Islands or to obtain investment advice, but you will most likely contact them to obtain the necessary paperwork to apply for your investment. You will also submit your application through them. Promex can be contacted at: P.O. Box 89-C, Praia, Cabo Verde, (238) 61 57 52 or (238) 61 16 19. Personal contact is always better than trying to fax them, but if you must, the number is (238) 61 14 42. 

5. Personally follow-up on your project's progress. Even though you may have a local representative aiding you with your project, don't think that you can take a back seat and relax. Remember, you are operating in a different culture where people's priorities may not be the same as yours. This is your project and ultimately your responsibility. Take ownership and manage it. 

6. Have everything ready, including financing, when you submit your application. Many projects have not been approved simply because there were not clear plans as to how the money to complete the project would be raised. Make sure all aspects of your project are covered upon application submittal. Treat it as if you would have to be ready to start as soon as you got the go ahead. 

7. Be patient and flexible. Let's face it, for one reason or another, there is a possibility that your project will not be approved. Don't give up. The Islands are full of opportunities. Some involve less red tape than others. If you are really serious about investing in Cape Verde, you will be able to do it. The time you've spent on the Islands and the people you met will really be of help at this point. You will able to draw on this experience to form other projects. Locals, who now know you and want you to succeed, may have suggestions. After your first attempt, you will have an even better idea of how to achieve success. George Bernard Shaw wrote, "The people who get on in this world are the people who get up and look for the circumstance they want, and, if they can't find them, make them." These people overcome obstacles and carry on and these are the successful foreign investors you'll find on Cape Verde. 

How to Officially Start the Process:

So you've decided to invest in Cape Verde. What are the official steps that you need to take? will tell you 

Diplomatic representation in the US: Chief of mission:  Ambassador Ferdinand Amilcar Spencer LOPES 
chancery:  3415 Massachusetts Avenue NW, Washington, DC 20007 
telephone:  [1] (202) 965-6820
FAX:  [1] (202) 965-1207 
consulate(s) general:  Boston

Here you'll find how to apply for a foreign or external investment and free-zone enterprise status. You'll find out how to set up a company and receive information regarding Cape Verde's labor system and Social Security.