Regulatory Alerts1999-10-25
Official Gazette - Foreign Exchange Law of São Tomé and Príncipe
The Government of the Democratic Republic of São Tomé and Príncipe issued Decree-Law No. 32/99 to comprehensively reform and modernize the country's foreign exchange regulatory framework. The decree establishes the Central Bank as the sole foreign exchange authority, mandates a fully liberalized market-driven exchange rate, and defines resident and non-resident statuses while outlining authorized operations for imports, exports, and capital flows. It further imposes strict reporting duties, authorizes the Central Bank to supervise transactions, and prescribes substantial fines, license suspensions, and criminal liabilities for unauthorized trading or regulatory violations.
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