Adopts investment code

The Investment Code of 2012 introduces arbitration as a mechanism for settling investment disputes between the Government and foreign investors under national and international dispute resolution rules. It also includes major legal principles, rights, and guarantees, including non-discrimination between national and international investors; protection of private property; free currency conversion and transfer abroad of income acquired in Cape Verde, and the right of foreign investors to have accounts in multiple currencies at financial institutions in the country.

• Type:

  • Treatment and operation (Non-discrimination, Nationalizations and expropriations, Capital transfer and FOREX, Dispute settlement)

• Industry:

  • Not industry specific

• Sources:

  • Library of Congress, Cape Verde: New Investment Code, www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403284_text, 15 Aug 2012
  • Official Gazette, Investment Code , www.loc.gov/lawweb/servlet/lloc_news?disp3_l205403284_text, 11 Jul 2012