São Tomé and Príncipe, a remote Central African archipelago in the Gulf of Guinea known for its cocoa-growing heritage and lush island landscape, is promoting its $90,000 ‘golden passport’ as it seeks fresh revenue amid an energy crisis and slowing economic activity.
The country is offering one of the world’s cheapest citizenship-by-investment programmes at a time when the European Union is increasing pressure on Caribbean schemes long used by wealthy Africans.
Under the programme, foreign investors and eligible family members can obtain citizenship without living in the country or buying property. Applicants must contribute at least $90,000 to the National Transformation Fund and pay additional processing fees.
Economic pressures drive the scheme
The government introduced the programme to attract foreign currency and create a new source of public revenue.
