How to send money to Cabo Verde in 2026: the escudo pegged to the euro, family transfers and a home with residence rights
In 2026 the Cabo Verde escudo still trades at 110.265 per euro, and in 2025 a record 31 billion escudos arrived from abroad. We show how to send money to a bank in Praia, why euros are more convenient than dollars and how a transfer for a home from 80,000 euros gives permanent residence.
Money goes to Cabo Verde in euros or escudos to an account at a bank in Praia, Mindelo or on the island of Sal. The escudo is firmly pegged to the euro: 1 euro always costs 110.265 escudos, so a sum in euros loses nothing on the rate, while a dollar cost about 99 escudos at the start of October 2026.
| What | What works in 2026 | Time |
|---|---|---|
| euros from Portugal and France | an international transfer through a correspondent bank, credited in escudos or euros | 1-2 business days |
| dollars from the United States | to an account in escudos, the bank exchanges at the day's rate | 1-3 business days |
| paying for a home on the islands | to the seller's or developer's account from abroad | by the contract date |
| help for the family | to relatives' account, with family support as the purpose | 1-2 business days |
Checked on 9 October 2026; dollars are at the European Central Bank rate of 7 October 2026, 1.1177 dollars per euro, rounded up.
110.265 escudos per euro: a peg that is 28 years old
In 1998 Cabo Verde signed an exchange rate cooperation agreement with Portugal, and the escudo was first pegged to the Portuguese escudo and from 1999 to the euro. Portugal backs the peg with an open credit line, so the rate has not changed for 28 years. The country's central bank publishes it every day together with the rates of other currencies.
For a sender from Europe this is convenient: 10,000 euros always become 1,102,650 escudos, and only bank fees need to be counted. A Cabo Verde account number of 25 characters starts with the country letters, followed by the recipient bank's code. Which currency to choose for your sum, a manager will tell you.
Money from people who moved abroad: 31 billion escudos in 2025
More Cabo Verdeans live abroad than on the islands themselves, and their transfers are a notable part of the country's income. According to the Bank of Cabo Verde, about 31 billion escudos (roughly 280 million euros, $320 million) arrived from abroad in 2025, a record. About a third of the money is sent from Portugal, 29% from the United States and 18% from France.
Most transfers come in December and in the summer months, when families prepare for the holidays and for relatives coming home. Money for the family is easier to send in euros: the recipient's bank credits it in escudos at the fixed rate.
We will help you send money to Cabo Verde
Mistakes cost more than fees: dollars exchanged first into euros and then into escudos, a home paid for without proof that the money came from abroad, an incomplete 25-character account number, and a large sum without papers. We will help you avoid them: we will choose the route and currency of the transfer, gather the documents for the bank in Praia and carry out the transfer through licensed partners through to crediting.
Details and terms are with a manager in the chat: much depends on the sum, the currency and the purpose of the transfer.
A home from 80,000 euros and permanent residence: the money must come from abroad
A 2018 law gives permanent residence to the owner of a second home in Cabo Verde. The threshold is 80,000 euros ($90,000) in municipalities where income per resident is below the national average, and 120,000 euros ($140,000) in the others, including Praia, Sal and Boa Vista. The main condition for the transfer: the purchase is paid with money sent from abroad, so the bank trail of the transfer is the key document.
A home under construction also qualifies. The owner pays no property tax on the purchase, and the status extends to the spouse and children. How to obtain residence step by step is in the article on residence permits in Cabo Verde.
The capital is covered on the Praia page, and taxes for people who move there on the taxes in Cabo Verde page.
The papers depend on how much you send to the islands
Up to $10,000. The payment purpose is enough for the bank: help for the family, rent, study.
$10,000-100,000. The bank in Praia will ask for a six-month statement and a document on the money: an income certificate, a sale contract or a deed of gift. For a home purchase under the 2018 law, keep proof that the money came from abroad.
From $100,000. A package on the source of wealth and the purchase contract are prepared; details are in the articles on proof of source of funds and moving home sale proceeds abroad, and a capital move is on the capital relocation page. A manager will work out in the chat the terms for transferring such a sum.
From Praia to Portugal, Senegal and Angola
To Portugal money goes in euros without any rate conversion, usually in 1-2 business days. To Senegal it is easier to send euros: the West African franc is also pegged to the euro. To Angola and Mozambique dollars or euros are sent, and the recipient's bank exchanges them into the local currency.
Sending money to neighbouring countries
- How to send money to Portugal
- How to send money to Senegal
- How to send money to Angola
- How to send money to Mozambique
- How to send money to Spain
- How to send money to Guinea-Bissau
All countries and a step-by-step capital move are in the capital relocation section.
FAQ
How many Cabo Verde escudos does a euro cost?
How much money was sent to Cabo Verde from abroad in 2025?
From what amount does buying a home in Cabo Verde give permanent residence?
Can a home in Cabo Verde be paid for from a local account and still give residence?
How many characters does a Cabo Verde account number have?
We will suggest the best way to send your money
We will choose a transfer method for your amount and country, prepare the documents on the origin of the money for the bank, make the transfer through licensed partners and follow it until the money is credited. Ask your question in the chat - the manager will suggest the best terms and the cost. The legal side with banks and government bodies is handled by Murblz specialists and locally licensed partners.
Details and cost are with the manager in the chat. Describe your situation and we will reply right away.
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