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Exclusive Interview with New COO of São Tomé CIU as Program Opens for Applications · IMI Podcasts

• 0:00
  SPEAKER_00: Santomean Principe has appointed Disney Ramos as director and Alfredo Trindade as chief operating officer of its Citizenship Investment Unit, referred to as CIU, marking the final step before the program begins accepting applications in September's first week.
• 0:16
  SPEAKER_00: The government hopes that the dual leadership structure positions the West African Island Nation to challenge established programs with a Dubai-based processing center, promising completion times under two months.
• 0:28
  SPEAKER_00: Disney Ramos, the former Minister of Economy, serves as director with authority over official documents, including approval letters and certificates of registration.
• 0:37
  SPEAKER_00: Trindade boasts dual sector experience, spanning private accounting and public administration as chief operating officer, overseeing day-to-day operations and external relations.
• 0:47
  SPEAKER_00: Educated in Portugal in accounting, audit, and corporate tax law, Trindade launched his career at PWC Portugal before transitioning to senior government roles.
• 0:57
  SPEAKER_00: Since January 2023, he has served as executive director of São Tome's Trade and Investment Promotion Agency and president of the central bank's audit committee.
• 1:07
  SPEAKER_00: The government established this leadership structure to create two complementary roles.
• 1:12
  SPEAKER_00: Ramos provides official authority and government stature, handling compliance and due diligence processes, while TrendAid manages marketing, agent relations, and international program promotion.
• 1:24
  SPEAKER_00: Ramos will initially operate from Sao Tome before relocating to the UAE to oversee the program's operational continuity.
• 1:31
  SPEAKER_00: The program requires a$90,000 donation for single applicants, with all-inclusive costs reaching$95,750 after government fees.
• 1:41
  SPEAKER_00: Families of four pay$103,000, including passport issuance at$350 per person, national ID at$150, and certificate of registration at$250.
• 1:55
  SPEAKER_00: Sao Tome's Parliament approved legislation enabling citizenship through investment in 2022, but implementation stalled through multiple government transitions.
• 2:05
  SPEAKER_00: Quote, we have had three governments that tried to implement this.
• 2:09
  SPEAKER_00: End quote, Trindade explained in an exclusive interview with IMI Daily, clarifying that the current administration finally established the regulatory framework, specifying donation amounts and requirements.
• 2:21
  SPEAKER_00: Trindade explained that, quote, we in Sao Tome and Principe are trying to diversify our income for the country, end quote, identifying CBI as one of the diversification strategies, pointing to the successful countries in the Caribbean as models.
• 2:36
  SPEAKER_00: Trindade confirmed the government drew inspiration from St.
• 2:39
  SPEAKER_00: Kitts, St.
• 2:40
  SPEAKER_00: Lucia, and Noru in designing the program since, these countries have made a lot of progress in terms of their growth.
• 2:47
  SPEAKER_00: The CIU will operate as a public-private partnership run by STP Advisory Services, a newly established UAE firm working under government oversight.
• 2:58
  SPEAKER_00: Passport Legacy, which won the government tender to help create the program, will continue providing strategic recommendations to ensure what Chairman Jeffrey Hensler describes as an efficient application process without delays or unnecessary complications.
• 3:13
  SPEAKER_00: TrindAid explained that operating the CIU privately will allow Saint Tomei to become more competitive, noting that government processes sometimes take time, while private sector operations focus on key performance metrics.
• 3:27
  SPEAKER_00: The unit targets processing applications in under two months.
• 3:31
  SPEAKER_00: Trindade addressed concerns about balancing revenue generation with integrity, explaining that while the government wants to process as many applications as possible, it needs to protect the country's reputation as well, because otherwise they will lose the opportunity to continue operating.
• 3:47
  SPEAKER_00: After the CIU completes due diligence, they will send all the processes to the government, and the government, through the country authorities, will also check the processes.
• 3:57
  SPEAKER_00: Hensler emphasizes that speed in the process is key and confirms that with qualified staff, the given timelines can be met while top-tier compliance checks will be done on the applicants.
• 4:08
  SPEAKER_00: He adds that efficiency and transparency go hand in hand, ensuring applications are processed quickly without ever compromising on integrity.
• 4:17
  SPEAKER_00: The Passport Legacy Chairman believes that, with a robust framework and dedicated professionals, Sountome and Principe can deliver results on time, while setting a benchmark in compliance.
• 4:29
  SPEAKER_00: He maintains that balancing speed with thorough due diligence is what will give the program credibility and long-term success.
• 4:36
  SPEAKER_00: The citizenship funds will flow into a national transformation fund, with renewable energy infrastructure as the first priority.
• 4:44
  SPEAKER_00: Saint Tomei currently experiences electricity for only three, four hours on some days, according to Trindade, who calls energy the base for development since nobody will come to the country to invest without electricity.
• 4:57
  SPEAKER_00: The government plans to achieve 100% renewable energy through solar and mini-hydro systems, requiring approximately 50 megawatts of clean energy to supply current needs and accommodate growth for three to five years.
• 5:10
  SPEAKER_00: Trindate articulates an ambitious vision where, quote, we want Saint Tomei to be a lighthouse project for other African countries when it comes to infrastructure, renewable energy, and the well-being of its citizens, end quote.
• 5:23
  SPEAKER_00: He believes this initiative will position Saint Tomei and Principe as a pioneer in Africa, driving sustainable growth through innovation and responsible investment.
• 5:33
  SPEAKER_00: The government's vision extends beyond energy, aiming to transform Sound Tomei and Principe into a regional hub where clean energy, modern infrastructure, and social prosperity go hand in hand.
• 5:45
  SPEAKER_00: TrindAid emphasizes that by setting the standard for good governance and long-term planning, Sound Tomei and Principe will inspire confidence among investors and pride among its citizens.
• 5:56
  SPEAKER_00: When pressed about fund allocation specifics, Trindade only confirmed that the majority of the$90,000 donation goes directly to development projects.
• 6:06
  SPEAKER_00: Licensed agents will get a$20,000 commission for each successful file, regardless of family size.
• 6:13
  SPEAKER_00: The decision to base operations in Dubai reflects practical considerations about document processing and market access.
• 6:20
  SPEAKER_00: Most of the players are just around the corner in Dubai, Trindade observes, eliminating shipping delays that affect Caribbean programs where processing can exceed one year.
• 6:30
  SPEAKER_00: Dubai is the financial center in the world and a very cosmopolitan city, making it easier to reach than Sao Tomei, according to Trindad.
• 6:39
  SPEAKER_00: The location also carries marketing advantages, as a citizenship by investment unit in Sao Tomei is not the same as announcing a Dubai-based operation.
• 6:49
  SPEAKER_00: The unit will initially hire experienced professionals from the investment migration industry already based in Dubai, gradually incorporating Sao Tomean nationals.
• 6:58
  SPEAKER_00: Quote, the beginning is crucial for us, end quote, trend aid notes, explaining the need for experienced staff at launch.
• 7:05
  SPEAKER_00: The government also plans to establish an embassy in Abu Dhabi, though the Dubai CIU will handle passport renewals in the interim when the seven-year validity expires, or three years for minors.
• 7:18
  SPEAKER_00: Citizens can renew their passports either at Sound Tomei Embassies in Beijing, Brussels, and Lisbon, or directly at the Dubai CIU.
• 7:26
  SPEAKER_00: Quote, you can go to the General Consulate or the Embassy of Sao Tomei in Principe or to the CIU, end quote, Trindade confirmed, addressing a common challenge for economic citizens who often struggle to renew documents without visiting distant diplomatic posts.
• 7:42
  SPEAKER_00: Some Tomayan citizens face no particular banking challenges internationally, according to Trindade, who describes the country as very well known as a neutral country.
• 7:52
  SPEAKER_00: Banks require standard documentation and due diligence, but we are not facing any kind of problem-opening bank accounts.
• 8:00
  SPEAKER_00: The program accepts applications from all nationalities except North Koreans, including Russians and Iranians.
• 8:06
  SPEAKER_00: Stateless individuals can also apply.
• 8:09
  SPEAKER_00: Dependents include spouses, unmarried children up to 30 who remain financially dependent, and parents over 55.
• 8:16
  SPEAKER_00: The government will not publish the names of new citizens, maintaining privacy standards.
• 8:22
  SPEAKER_00: Quote, we are not planning to publish the names of people who acquire citizenship by investment.
• 8:27
  SPEAKER_00: End quote, Trindade confirmed, the program accepts only US dollar payments, not cryptocurrency.
• 8:34
  SPEAKER_00: Some Tomei passports currently provide visa-free or visa-on-arrival access to 93 destinations according to Trindade, including South Africa, Singapore, Hong Kong, UAE, and Qatar, though the European Union and United Kingdom require visas.
• 8:50
  SPEAKER_00: Trindad acknowledges that, quote, we are aware that we need to improve access to more countries, end quote, confirming the government's commitment to expanding visa-free access.
• 9:00
  SPEAKER_00: Trindade identifies Vanuatu and Nauru as direct competitors rather than established Caribbean programs like St.
• 9:07
  SPEAKER_00: Kitts or Antigua and Barbuda, which have been in this sector for many years.
• 9:13
  SPEAKER_00: He believes that Sao Tomei can compete.
• 9:16
  SPEAKER_00: However, due to its price point and speed, he argues that, with this amount and handing over the passport in less than two months, we will very quickly become the key player in this sector.
• 9:26
  SPEAKER_00: The government expects hundreds of applications in the first year.
• 9:30
  SPEAKER_00: The government has not set specific nationality targets.
• 9:33
  SPEAKER_00: Trindade emphasized that we are open to all nationalities except North Koreans.
• 9:38
  SPEAKER_00: Trindade frames the program's value beyond travel benefits, describing the passport as insurance during crises.
• 9:46
  SPEAKER_00: People holding Sao Tomei passports can go to Sao Tomei and Principe during crises in their homeland, he notes, emphasizing the country's very low crime rate and reputation as a safe country.
• 9:57
  SPEAKER_00: So Tomei becomes the first Portuguese-speaking country to offer citizenship by investment, leveraging its membership in the community of Portuguese-language countries, also known as CPLP, connecting to Portugal and Brazil.
• 10:11
  SPEAKER_00: The island's location provides proximity to a market of around 400 million consumers in West Africa, with Nigeria only one hour flight away and Ghana and the Ivory Coast less than two hours' flight from the island.
• 10:25
  SPEAKER_00: Africa is the continent of the future, Trindade argues, adding that if you are in Saint Tome, you are in the heart of the future.
• 10:33
  SPEAKER_00: He encourages passport holders to look beyond CPLP benefits to the sub-region of the Gulf of Guinea.
• 10:39
  SPEAKER_00: Tourism remains the main sector of the economy, with healthcare infrastructure improvements planned to support the industry's growth.
• 10:46
  SPEAKER_00: As when people are looking for vacation destinations, healthcare is the second thing they look for.
• 10:51
  SPEAKER_00: Additional infrastructure plans include a deep seaport that has been discussed for decades.
• 10:56
  SPEAKER_00: Quote, I remember since I was a kid, every government has had the desire, the goal, the dream to build a deep seaport, end quote, Trindade recalls, adding that, now it's not only a dream because we have already woken up and now it's a vision, not a dream.
• 11:11
  SPEAKER_00: The government also aims to develop the airport as a Gulf of Guinea hub, leveraging what Trindade describes as Saint Tomei's strategic position at the center of the world, where we can easily reach Europe, the Middle East, and Africa.
• 11:25
  SPEAKER_00: Trindade will present the program at IMI Connect in Rome, where he plans to emphasize, quote, the two main things that everyone in the sector is looking for, speed and price.
• 11:35
  SPEAKER_00: Speed of less than two months and a price under$100,000.
• 11:39
  SPEAKER_00: End quote.
• 11:40
  SPEAKER_00: The citizenship unit indicates it remains open to recommendations from marketing agents, suggesting flexibility and program structure as market response becomes clear.
• 11:49
  SPEAKER_00: Passport Legacy, having supported the government from the program's inception, will continue providing strategic recommendations to the CIU to maintain what it describes as a framework that, quote, combines strong government leadership with industry expertise.
• 12:05
  SPEAKER_00: End quote.
• 12:07
  SPEAKER_00: This episode first appeared as an article by Ahmad Abbas on IMIDailily.com.
• 12:12
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• 12:19
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