Unless it's a company set up in 2025 to secure another term with the support of those in power at the Las Palmas Chamber of Commerce, the island's business landscape has seen an interesting development. Santiago de Armas, a former Lopesan executive who stepped down due to his age, has founded a tobacco company.
The company, called Sabiduría del Soberano (Sovereign's Wisdom), has been founded with a clear commercial and logistical focus. The executive assumes the role of sole administrator. The firm, which began operations last December, is registered with the Mercantile Registry with a share capital of €3.500 and its registered office in the iconic Edificio Paraguay on Avenida Rafael Cabrera.
Aside from his new interests in China, De Armas Fariña's foray into this sector is significant, as the new company's purpose encompasses the entire tobacco market value chain. From manufacturing to import and export, the entity is authorized for the wholesale and retail marketing and distribution of all types of products, including cigars, cigarettes, and their substitutes. This structure allows the company to operate as a comprehensive platform for trade from the archipelago to international markets.
In addition to its tobacco business, Santiago de Armas will lead a parallel IT consulting and facilities management division through this company. This dual operation suggests a business model adapted to the new demands of the industry, where digital traceability and technological management are fundamental for the distribution of products subject to special tax regimes. The company is a sole proprietorship, with Canaria Pacific 2000 as its sole shareholder, which reinforces direct control over this new business line.
