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Cape Verde: fintech & payments regulation

Partially regulated

Cape Verde fintech/payments: BCV oversight under LAIF/LBSF; no specific VASP regime

Lead regulator:
Bank of Cape Verde (Banco de Cabo Verde)
Key law:
Law on Financial Activities and Institutions (LAIF) No. 62/VIII/2014
Last updated:
2026-07-12

The Bank of Cape Verde (BCV) serves as the primary supervisor for financial institutions under the framework established by the Financial System Framework Law (LBSF) and the Law on Financial Activities and Institutions (LAIF). Authorization is granted on a case-by-case basis for entities operating within Cape Verdean territory.

Current regulations focus on traditional credit and non-bank financial institutions, with specific requirements for minimum share capital and standardized registration. There is no explicit mention of a dedicated licensing regime for virtual asset service providers (VASPs) or standalone payment institutions in the provided documents.

The regulatory environment emphasizes sound competition, adequate own funds, and strict governance structures. Recent directions involve updating capital thresholds and formalizing waiver models for restricted authorization credit institutions.

Who regulates

  • Bank of Cape Verde

    Primary supervisor granting authorization and supervision for financial and auxiliary institutions.

    [1][2]

Core laws & rules

  • Law on Financial Activities and Institutions (LAIF) (2014)

    Regulates the establishment, authorization, supervision, and operation of financial institutions and auxiliary entities, requiring case-by-case authorization from the BCV.

    [1]

  • Financial System Framework Law (LBSF) (2014)

    Establishes the foundational framework, guiding principles, and regulatory scope for the national financial system, defining financial and auxiliary institutions.

    [2]

Licensing & registration

  • Restricted Authorization Credit Institutions

    Credit institutions may opt for restricted authorization under Article 6(4)(a) of the LAIF, subject to a standardized Waiver Model approved by the BCV.

    [3]

  • General Financial Institutions

    Domestic and foreign entities must complete a standardized registration form detailing corporate identity, share capital, and governance. Minimum share capital requirements are set by BCV Notice No. 3/2015.

    [4][5]

Restrictions & warnings

  • Credit institutions are mandated to adhere to specific terms regarding the use of checks, as amended by Legislative Decree No. 12/2010.

    [6]

Direction of travel

  • The regulatory framework is actively updated, with recent notices adjusting capital requirements and formalizing operational models for restricted institutions.

    [5][3]

Sources

  1. Law on Financial Activities and Institutions (LAIF) (Articles 20 et seq.) · 2014-04-23
  2. Financial System Framework Law (LBSF) (Articles 20 et seq.) · 2014-04-23
  3. Notice No. 1/2015, March 5 – Approval of the Waiver Model for Restricted Authorization Credit Institutions under Article 6(4)(a) of the LAIF · 2015-01-01
  4. Financial Institutions Registration Form Annexed to Circular 182/2015 of May 13 · 2015-01-01
  5. Notice No. 3/2015, of May 12 – Sets the Minimum Share Capital for Financial Institutions · 2015-01-01
  6. Legislative Decree 12/2010 of 8 November Restricting the Use of Checks Amending Legislative Decree 12/95 of 26 December · 2010-01-01

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This guide is compiled automatically from 6 primary-source documents published by Cape Verde's regulators, reviewed by RegAlert, and refreshed monthly (last updated 2026-07-12). It is not legal advice — always confirm requirements with the regulator or local counsel before acting.