Few offshore jurisdictions encourage the establishment of new international banks. Often the unwillingness to license new banks is based on fear and/or ignorance in regards to international compliance, regulatory standards, anti money laundering, anti terrorist funding among other issues. The former Portuguese colony of Sao Tome e Principe has implemented a modern and internationally compliant legal framework to encourage foreign investment, specifically in the Free Trade Zone of Sao Tome (www.azf.gov.st). The government welcome applications for new banks and the qualification requirements are reasonable while ensuring that only serious applicants receive approval.

A new bank will need a minimum of 2 directors. All directors and officers should be able to demonstrate that they are qualified to manage a bank. The bank is required to establish a physical presence within 6 months (shell banks are not allowed) of receiving a provisional license.

The total cost to form and license a new bank would be approximately USD 250,000.00 including government and professional fees. The bank must have a paid up capital of at least USD 1,000,000.00. There is no requirement to keep any funds in Sao Tome e Principe.  The annual license renewal fee is EUR 100,000.00 starting the second year. Office space in Sao Tome can be rented for around EUR 800.00 per month.

For further details about this bank license, please forward a brief summary of the planned activities and the principals of the proposed bank. Based on the information you provide we will provide a cost estimate and feasibility report without any obligations.

Available add on services include: 

NexorOne® Online Banking System

Eurowire® Membership

Website design and secure hosting

Full IT Support and training

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