That one is a tricky question. Socotra is owned by Yemen. Mainland Yemen being located in Asia and Socotra in Africa, the island makes Yemen a transcontinental country. With Egypt, they are the only two transcontinental countries of the Arabian peninsula and between Africa and Asia.
Socotra is a governorate and has been part of Yemen since the reunification of the country in 1990. However, during the Yemen civil war in 2017 and 2018, troops from the UAE have landed on the island and are administering its defense and security. At first, they took control of the airport and seaport but have recently given back the control of those back to the Yemeni government. Currently, they have an agreement with Yemen to train the military.

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