The ISO code of Kiribati is KI according to the ISO 3166 standard. The local name of the country is the same as its English name. Kiribati capital city is Tarawa Atoll. People in Kiribati speak the Kiribati, and English languages. On 12 July 1979, Kiribati emerged as a sovereign political entity. In the year 07/12/1979, Kiribati emerged as a sovereign political entity. The largest city in Kiribati is South Tarawa.
Kiribati has different time zones. They are UTC +12:00 (GILT - Gilbert Island Time), UTC +13:00 (PHOT - Phoenix Island Time), UTC +14:00 (LINT - Line Islands Time).The internet country code top-level domain (ccTLD) for Kiribati is .ki. The International dialing code for Kiribati is 686. People in Kiribati drive on the left side of the road. Total land area of Kiribati is 811 km² (approx. 313 mi²). Kiribati is not a landlocked country. It means that is is bordered by at least one major body of water.
Kiribati is located in Oceania. Kiribati is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Kiribati faces various issues, including heavy pollution in lagoon of south Tarawa atoll due to heavy migration mixed with traditional practices such as lagoon latrines and open-pit dumping, ground water at risk.
Doing business in Kiribati
We offer various corporate services in Kiribati jurisdiction. These services can serve both, people coming from Kiribati and foreigners. If you plan on doing business in Kiribati you might be interested in contacting us.
To find out about starting your business in Kiribati click on company formation in Kiribati.
To find out how to open a bank account in Kiribati and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Kiribati.
Choose preferred service below or continue reading to find out more about Kiribati.
Demographics of Kiribati
The total population of Kiribati is 118,414 people. In Kiribati, the population density is 147 people per square kilometer (382 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Kiribati is 0.0511. Kiribati has approximately 3153 foreign immigrants. The median age is approximately 23.6 years. In Kiribati, 10.75 in every 100 people use internet. Kiribati has a Human Development Index (HDI) of 0.607.
The majority religion of Kiribati is Christianity, Kiribati is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Kiribati.
Culture of Kiribati
People in Kiribati speak the Kiribati, and English languages. According to data on inbound tourists in Kiribati, 5,900 tourists arrive in the country each year. One of the most popular national dishes of Kiribati is machboos. To read more click on culture of Kiribati.
Geography of Kiribati
Kiribati is considered to be a large nation because of its total area. Its total land area is 811 km² (approx. 313 mi²). Kiribati is located in Oceania. Its capital city is Tarawa Atoll. Kiribati has no land borders.
The highest point of Kiribati is an unnamed location, with its official height being 81 m (266 ft). Including land mass and EEZ, the total area of Kiribati is approximately 3,442,621 km² (~1,329,197 mi²). The most notable natural resources found in Kiribati are phosphate, copra, fish.To read more click on geography of Kiribati.
Economy of Kiribati
The currency of the country is Kiribati dollar. The symbol used for this currency is $, and it is abbreviated as AUD. 30.6% of population in the country are unemployed. The total number of unemployed people in Kiribati is 36,235. Each year, Kiribati exports around $0.01 billion and imports roughly $0.08 billion. The Gini Index of the country is 37.61. Kiribati has a Human Development Index (HDI) of 0.607.Kiribati has a government debt of 12.2% of the country's Gross Domestic Product (GDP), as assessed in 2012. Kiribati is considered to be a developing nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are fishing, handicrafts.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Kiribati is $189 billion. Each year, consumers spend around $117 million. The ratio of consumer spending to GDP in Kiribati is 67%, and the ratio of consumer spending to the world consumer market is 0.0003. The corporate tax in Kiribati is set at 32.7%. Personal income tax ranges from 25% to 35%, depending on your specific situation and income level. In 2013, Kiribati received 64.6 million USD in foreign aid.In 2014, the foreign aid amounted to 63.9 USD.To read more click on economy of Kiribati.
Infrastructure of Kiribati
In Kiribati, 59.3% of the population has access to electricity. There are 327 internet hosts in Kiribati. Kiribati has 19 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Kiribati is 527. To read more click on infrastructure of Kiribati.
Politics of Kiribati
Kiribati, is a presidential republic. With regard to political and civil freedoms, Kiribati is 1. Citizens in Kiribati experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Taneti Mamau.
According to the World Bank Group, the government effectiveness index of Kiribati is -0.58. This indicates that the government of Kiribati is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Kiribati, the legislative power is vested in a House of Assembly. The strength of legal rights index for Kiribati is 4. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Kiribati received 64.6 million USD in foreign aid. In 2014, the foreign aid amounted to 63.9 USD. Kiribati is a member of the United Nations (UN). On 14 September 1999, it joined the UN as a full member state. Kiribati is a member of the World Bank. To read more click on politics of Kiribati.
Environment of Kiribati
Kiribati emits 0.6 metric tons per capita of CO2. 20 km² of Kiribati's territory is covered in forests. and forest land comprises 2% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Kiribati is 527. To read more click on environment of Kiribati.
Company formation in Kiribati
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Kiribati.
When establishing a company in Kiribati, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Kiribati that will affect the establishment and growth of one's business. Contact us or click on company formation in Kiribati to read additional information when setting up a business.
Bank account opening in Kiribati
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Kiribati. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Kiribati, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Kiribati or contact us.