Regulatory Alerts2018-01-11
Regulation (NAP) - Supervision Fee for the 2017 Financial Year
The Central Bank of São Tomé and Príncipe establishes a fixed supervision fee of USD 500.00 for all authorized insurance companies operating in the country for the 2017 financial year. This regulation mandates that insurers pay the fee in local currency (Dobras) based on the year-end exchange rate, with deposits due by January 31 of the following year. The measure applies to both domestic and foreign-headquartered insurers authorized under Decree-Law No. 28/2000, replacing the previous flexible range of USD 200.00 to USD 500.00 with a definitive fixed amount.
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