Generalizes on the best strategy to enter the market, e.g., visiting the country; importance of relationships to finding a good partner; use of agents.
There is no single recommendation with respect to market entry. Having a Cabo Verdean business partner or manager who can speak both Portuguese and Cabo Verdean Creole (“Kriolu”) can be extremely helpful, particularly in industries marketed to the local population. For industries targeting foreigners and tourists, dual English and Portuguese language proficiency would be useful. Working with a local lawyer is recommended to understand the country’s legal framework and procedures. (U.S. Embassy Praia’s website includes a list of local attorneys.)
There are multi-service marketing companies available to provide support services to businesses. These marketing companies operate on a much smaller scale than similar businesses in the United States. However, their contacts and expertise can generate faster responses when building business relationships under time and language constraints.
There is no American Chamber of Commerce in Cabo Verde, but there are a few successful micro and small businesses run by Cabo Verdean-American dual nationals who can offer insights and recommendations.
An exploratory visit is advisable to gain an understanding of each island and specific opportunities and constraints. An initial meeting with Cabo Verde TradeInvest – the Cabo Verdean foreign investment promotion agency – is highly recommended. Cabo Verde TradeInvest can also assist with business registration and establishing contacts.