Business accounts: São Tomé and Príncipe

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

São Tomé and Príncipe is a small island state in the Gulf of Guinea with Portuguese as its language and law built on the Portuguese model. There are few banks, all supervised by the Central Bank of São Tomé and Príncipe. A business account is opened for a company registered in the country, usually for tourism, trade, fishing, construction or services. The dobra is pegged to the euro at 24.5 dobras per euro, about 21.9 dobras per dollar at the European Central Bank rate of 5 October 2026.

The company for the account

• Registration at the One-Stop Business Window under the Ministry of Justice: apply in person or online; forming a company takes about three days, or one day on an urgent basis.
• Forms: a limited company, including single-member, and a joint-stock company.
• Tax number and social security registration.
• Foreign founder's documents apostilled and translated into Portuguese.

Taxes the bank will see

• Corporate income tax: 25%.
• VAT: 15%, introduced on 1 June 2023; staple goods carry a reduced rate.
• The bank compares account turnover with the company's tax registration and returns.

Investment incentives

São Tomé and Príncipe's investment code provides tax and customs incentives for approved projects, mainly in tourism, agriculture, fishing and processing. The project is agreed with the state trade and investment promotion agency, and the incentive terms are set out in an agreement with the state. Such an agreement helps the bank understand where turnover will come from.

Staff and reporting

• Local staff are registered with social security, and contributions are paid from the company account.
• Foreign staff need residence and work permits.
• Tax reporting: an annual corporate income tax return and regular VAT returns.

What the bank checks

• articles, certificate of registration and tax number;
• passports of directors and owners, beneficial owner details;
• a description of business on the islands, contracts and sector licences;
• origin of capital and payment countries;
• for a corporate founder, an apostilled and translated registry extract.

Currency and payments

Accounts are opened in dobras and usually in euros. Thanks to the euro peg there is almost no currency risk with European partners. The bank checks transfers abroad against contracts and invoices, and the process can take longer than in major financial centres.

How opening works

1. Company registration at the One-Stop Window.
2. Sector licences and tax registration.
3. Bank file and origin of capital.
4. The director's bank visit in São Tomé and answers to questions.
5. Account opening in dobras and euros, with online banking if the bank offers it.

Why banks refuse

• The company has no real activity in the country.
• Origin of capital not proven.
• Founder's documents without apostille or Portuguese translation.
• Sanctions risk among owners or counterparties.
• No sector licence for the stated activity.

What we do

Murblz specialists register a company in São Tomé and Príncipe with locally licensed partners, handle tax registration and licences, prepare the bank file and support the opening until the decision. We quote the cost after a short consultation; the decision always rests with the bank.

What we do

• Corporate account - opening assistance

See also

Personal account · Investment property · All country programs

FAQ