JpD argues that Green Card will attract investment and open more windows of opportunity to young people


Praia, Feb 7 (Inforpress) – The president of the Youth for Democracy (JpD) said today that they “firmly” support the Government’s introduction of the “Green Card” because they believe it will attract more investment and more opportunities for young people.

Euclides Silva expressed his support during a press conference in Praia today to react to the statements made on Monday by the president of the Youth for the Cabo Verdean African Party of Independence (JPAI) about the Green Card.

Contrary to JPAI’s claim that this measure “implies losses of fiscal resources amounting to more than 5 million escudos in the State Budget of 2018”, JpD believes that this law aims to stimulate foreign investors and  retired persons and not loss of revenues.

This law, he explained, is applicable to those who invest in the acquisition of buildings worth over 8.8 million escudos in municipalities with a GDP per capita lower than the national average, in the case of the islands of Santo Antão, São Nicolau, Fogo, Brava , Maio and North Santiago, and in an amount of more than 13 million escudos  in municipalities with GDP per capita equal to or higher than the national average, as in the case of Praia, and in the islands of São Vicente, Sal and Boa Vista.