SÃO TOMÉ AND PRÍNCIPE
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About São Tomé and Príncipe

Page Last Updated: 28/05/2024

Sao Tome and Principe, situated in the Gulf of Guinea off the coast of Central Africa, is a nation rich in potential business ventures across various sectors. Africa HR Solutions has supported numerous companies in their expansion within the country, preventing compliance issues before they arise and enhancing their overall effectiveness. Do not compromise on compliance and partner up with a São Tomé and Príncipe expert today. 

Population: 0.24 M


Gross Domestic Product (GDP): $0.75 B
GDP Growth: 2.9%
Inflation: 14.2%
Foreign Direct Investment (% of GDP): 23.4%
Unemployment Rate: 14.35%
Capital: São Tomé
Currency: São Tomé and Príncipe dobra (STD)
Languages: Portuguese

São Tomé and Príncipe Payroll at a Glance

Currency

São Tomé and Príncipe dobra (STD)

Income Tax

0% – 25%

Employer Taxes

8%

Employee Contribution

6%

Fiscal Year

1 January – 31 December

Date Format

dd/mm/yyyy

  • São Tomé and Príncipe has a rich cultural heritage, influenced by African, Portuguese, and Afro-Brazilian traditions.
  • The economy of São Tomé and Príncipe is largely dependent on agriculture, with cocoa being the primary export crop.
  • The country gained independence from Portugal on July 12, 1975.
  • São Tomé and Príncipe is known for its lush rainforests, volcanic landscapes, and pristine beaches, making it a popular destination for ecotourism.
  • São Tomé and Príncipe is a member of the Economic Community of Central African States (ECCAS) and the Community of Portuguese Language Countries (CPLP).
  • New Year’s Day
  • Martyrs’ Day
  • Good Friday
  • Labour Day
  • Independence Day
  • Armed Forces Day
  • Agricultural Reform Day
  • Sao Tome Day
  • Christmas
Interesting-Facts

Employment in Sao Tome & Principe

Employment contracts are prepared in either oral or written formats in Sao Tame, though many employees would choose a written agreement that defines all information about their wage, compensation, leaves, and termination information. At Africa HR Solutions, our in-country experts can assist and advise you on employment procedures, and help you manage a competitive benefits scheme for your team in Sao Tome and Principe.

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