Personal accounts: São Tomé and Príncipe

Updated 6 October 2026

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

A personal account in São Tomé and Príncipe is opened at one of the few local banks supervised by the Central Bank of São Tomé and Príncipe. It is needed mainly by people who live and work on the islands, run a business here or own a house. 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.

Who needs an account in practice

• Contract workers in tourism, construction and international projects.
• Retirees and remote workers living on the islands part of the year, for rent and local expenses.
• Volunteers and staff of conservation projects on Príncipe, for housing and expenses.
• Owners and directors of local companies, for personal funds separate from the company.
• Owners of houses on leased land, for land rent, utilities and building costs.
• People moving to the islands long term or spending part of the year here.

What you need

• passport with a visa or residence permit;
• a São Tomé and Príncipe tax number;
• an address on the islands;
• an employment contract or income documents, and for employees a work permit;
• source-of-funds evidence for large sums.

Currency and transfers

Accounts are opened in dobras and usually in euros. Thanks to the euro peg, keeping savings in euros is convenient, while local expenses are paid in dobras. The banking network is small and cards are not accepted everywhere, so cash is widely used day to day. Transfers abroad go through the bank with documents, and the bank checks the basis of the payment.

Country specifics

• The official language is Portuguese, and documents are translated into it.
• Príncipe island is a UNESCO biosphere reserve, and tourism develops around conservation.
• Many operations are easier in person in São Tomé.
• Direct flights run from Lisbon, so many financial ties lead to Portugal.

A house on leased land

Land on the islands is mostly state-owned, and foreigners usually take a plot on a long-term lease while the house on it can belong to them. Land rent, building costs and utilities are conveniently paid from a local account, and all deal payments go through a bank so the origin of money can be proven on a later sale.

Moving and lawful stay

The bank opens an account for a foreigner lawfully in the country on a visa or residence permit. Permits are issued by the migration and borders service, and for employees together with a work permit through the employer.

How opening works

1. Residence permit and tax number.
2. Choosing a bank and account currency.
3. Documents and proof of income.
4. Branch visit.
5. Account and card, and if needed a second euro account for savings.

Why banks refuse

• No lawful stay status or tax number.
• Source of funds not proven.
• Documents not translated into Portuguese.
• Sanctions risk by nationality or counterparties.
• The address on the islands is not backed by documents.

What we do

Murblz specialists help with the tax number and documents, choose a bank, prepare translations and source-of-funds evidence, 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

• Personal account - opening assistance

See also

Business account · Investment property · All country programs

FAQ