About Sao Tome Principe
São Tomé and Príncipe is the second-smallest and second-least populous African sovereign state after Seychelles. São Tomé and Príncipe is considered a free country, with very high freedom of speech, high political freedom and average economic freedom.
The country is a founding member state of the Community of Portuguese Language Countries, also known as the Lusophone Commonwealth, an international organization and political association of Lusophone nations across four continents, where Portuguese is an official language. Portuguese is the official and the de facto national language of São Tomé and Príncipe, with about 98.4% speaking it, a significant share as their native language, and it has been spoken in the islands since the end of the 15th century.
São Tomé and Príncipe has embassies in Angola, Belgium, Gabon, Portugal, and the United States.
Sao Tome and Principe has a population of 200,000 people has highest literary rates among African countries.
There are six banks in the country; the largest and oldest is Banco Internacional de São Tomé e Príncipe, which is a subsidiary of Portugal’s government-owned Caixa Geral de Depósitos.
Sao Tome and Principe has a 25% standard corporate tax rate, a progressive personal income tax (0%–25%), and a 15% standard Value Added Tax (VAT) on goods and services. The country, which has no capital gains tax on investments.
Economy
The economy of São Tomé and Príncipe has grown, driven by agriculture, tourism and foreign investments, but mainly grew due to government spending driven by foreign loans. . Tourism sector has been expanding with the increase of foreign investment. Large resorts have been built on the beaches of São Tomé and Príncipe
The economy of São Tomé and Príncipe is closely linked to that of Portugal, with Portugal accounting for more than 50% of exports from São Tomé and Príncipe. Portugal has helped to develop education in São Tomé and Príncipe, financially helping to build and maintain the Public University of São Tomé and Príncipe
Strong Ties with Portugal
Portugal has historical ties with São Tomé and Príncipe, from the period of colonization by the Portuguese. Portugal is the largest investor in São Tomé and Príncipe, investing millions of euros in the economy. São Tomé and Príncipe maintains an embassy in Lisbon, a consulate in Porto and one in Coimbra. Portugal maintains an embassy in São Tomé.[citation needed] Portugal and São Tomé and Príncipe signed an agreement, in which Portugal patrols the coastal area of São Tomé and Príncipe, protecting it mainly from pirates. Portugal and São Tomé and Príncipe signed a new cooperation agreement for defence, bolstering training and maritime security.
