The first São Tomé & Príncipe passport was recently delivered to an investor, and I believe this (albeit quietly), represented a watershed moment for the citizenship by investment industry.
But not because the programme is “new”.
And not because it represents something massively different on paper.
But because of the level and quality of interest it has attracted so early on; and what that interest says about how the second citizenship market is evolving.
And honestly? I can’t say I didn’t see this coming.
Early Interest Is No Longer a Red Flag
Historically, early demand for a new citizenship programme has been met with caution. The assumption was that early applicants were highly price-sensitive, overly opportunistic, or willing to accept higher risk in exchange for novelty or speed.
That is no longer the case.
I’ve spoken to a lot of clients who are interested in São Tomé & Príncipe in the last few months; and a lot of them not first-time buyers. Instead, they tend to be globally mobile entrepreneurs, internationally educated families, and investors who already hold strong passports. In a lot of cases, they are individuals who deliberately waited for a programme to demonstrate credibility; and are now engaging precisely because it has begun delivering.
Early adoption, in this context, was not gambling on the unknown.
It was about recognising opportunity before it became mainstream.
The First Passport Matters More Than the Marketing
In an industry that has become increasingly crowded with announcements, promises, and heavily projected timelines, delivery has become the real differentiator.
The fact that São Tomé & Príncipe has already issued its first passport matters because it answers the most important question that perspicacious investors ask:
Does the programme actually work in practice?
For many clients, the ‘first passport delivered’ milestone means a lot more than a shiny brochure, or visa-free statistic. It demonstrates administrative capability, political intent, and a capacity to deliver passports in agreed timeframes; all of which are critical indicators of long-term programme sustainability.
This is especially relevant in the post-scrutiny era we currently find ourselves in, where credibility and compliance carry more weight than speed or scale.
Are We Moving Away from Single-Region Thinking?
The interest in São Tomé & Príncipe tells me something interesting: investors aren’t looking at second citizenship through a single lens anymore.
For years, the Caribbean was the industry’s biggest player – and for good reason. Don’t get me wrong, Caribbean programmes were (and remain) well-established, well-regulated, and highly effective for many applicants. But two things can be true at the same time; the market has also matured.
Today, my clients are less inclined to ask “Which passport is best?”. Instead, what I’ll more likely hear is “Which solution best fits my situation?”.
That line of thinking naturally opens the door to opportunities sitting outside the traditional core. Not as replacements, but as complementary options operating within a wider global mobility strategy.
Programmes like São Tomé & Príncipe are benefiting from this change in mindset.
Second Citizenship Is No Longer a Status Purchase
Another factor impacting demand levels is the changing reasons people are looking for second citizenship in the first place.
Once upon a time, second passports were largely seen as a luxury, or lifestyle upgrade. Now? They’re used much more as a strategic planning tool. Clients often talk about:
- Long-term residence flexibility
- Banking and business continuity
- Family planning for children
- Reducing exposure to single-jurisdiction risk
- Political safeguarding
In this context, a second passport doesn’t need to be the most recognisable or most popular. What it does need to be is reliable, functional, and strategically aligned with the client’s holistic objectives.
Non-traditional programmes tend to attract clients who understand this distinction.
The Rise of Under-Represented Jurisdictions
It’s tempting to describe programmes like São Tomé & Príncipe as “fringe”, but I think that label misses the point.
What I would call it is a reconfiguration of market attention. As demand for second citizenship continues to grow (and demand is indeed growing steadily), interest will naturally spread toward countries that have been under-represented; not because they’re obscure, but because they were previously overlooked.
Don’t misunderstand me, this is not driven purely by cost, nor by novelty. In a lot of cases, it is driven by:
- Political neutrality
- Geographic diversification
- A desire to avoid programmes with heavy backlogs
- Confidence in long-term positioning (rather than short-term popularity)
As investors become more experienced, they become more selective. And more open to options that sit outside the traditional shortlist.
Market Expansion Doesn’t Mean Caribbean Programmes Are Losing Ground
It’s important to be clear here: the growing interest in programmes like São Tomé & Príncipe does not spell the end of Caribbean citizenship by investment programmes.
Instead, it shows that the market is expanding beyond a one-size-fits-all model. There is plenty of room at the inn.
Many clients still choose Caribbean options, often as their first step. Others already hold Caribbean citizenship and are now layering additional passports/residences into their planning. Some simply want a different geopolitical footprint.
The key point is choice.
And choice tends to increase as markets mature.
The Future of the Industry
So what does the future look like? For me, the industry is moving toward two main things: diversification and strategy. I believe that the success of new programmes will depend less on aggressive promotion and more on fundamentals:
- Transparent frameworks
- Disciplined processing
- Early and consistent delivery
- Clear political backing
São Tomé & Príncipe’s early traction demonstrates that when all of these elements are present, investor confidence follows.
Zooming out a little, it also reinforces a reality that many in the industry already recognise: the second citizenship market is becoming more sophisticated, not more speculative.
Clients are better informed. Expectations are higher. And interest is no longer confined to a handful of familiar names.
A Quiet but Meaningful Indicator
The first passport issued by São Tomé & Príncipe made a lot of headlines, and honestly, I can see why.
It evidences a market that is evolving, diversifying, and becoming more strategic and less conventional.
My advice? Pay close attention; São Tomé & Príncipe could be an early indicator of where second citizenship demand is heading next.
If you’re interested in learning more about the São Tomé & Príncipe citizenship by investment programme, or want to discuss your own second citizenship options, contact me today at Selma.Brahimi@passportlegacy.com or on WhatsApp at +971 56 851 0476.
