The ISO code of Mozambique is MZ according to the ISO 3166 standard. The local name of the country is Mocambique. Mozambique capital city is Maputo. People in Mozambique speak the Portuguese language. On 25 June 1975, Mozambique emerged as a sovereign political entity. In the year 06/25/1975, Mozambique emerged as a sovereign political entity. The largest city in Mozambique is Maputo.
Mozambique is located in the UTC +02:00 time zone, which is also called Central Africa Time or CAT. The internet country code top-level domain (ccTLD) for Mozambique is .mz. The International dialing code for Mozambique is 258. People in Mozambique drive on the left side of the road. Total land area of Mozambique is 799,380 km² (approx. 308,641 mi²). Mozambique is not a landlocked country. It means that is is bordered by at least one major body of water.
Mozambique is located in Africa. Mozambique 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 Mozambique faces various issues, including a long civil war and recurrent drought in the hinterlands that have resulted in increased migration of the population to urban and coastal areas with adverse environmental consequences, desertification, pollution of surface and coastal waters, elephant poaching for ivory is a problem.
Doing business in Mozambique
We offer various corporate services in Mozambique jurisdiction. These services can serve both, people coming from Mozambique and foreigners. If you plan on doing business in Mozambique you might be interested in contacting us.
To find out about starting your business in Mozambique click on company formation in Mozambique.
To find out how to open a bank account in Mozambique and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Mozambique.
Choose preferred service below or continue reading to find out more about Mozambique.
Demographics of Mozambique
The total population of Mozambique is 30,528,673 people. In Mozambique, the population density is 29.6 people per square kilometer (77 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Mozambique is 0.6932. Mozambique has approximately 218881 foreign immigrants. The median age is approximately 16.9 years. In Mozambique, 4.85 in every 100 people use internet. Mozambique has a Human Development Index (HDI) of 0.393.
The majority religion of Mozambique is Christianity, Mozambique 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 Mozambique.
Culture of Mozambique
People in Mozambique speak the Portuguese language. According to data on inbound tourists in Mozambique, 1,886,000 tourists arrive in the country each year. One of the most popular national dishes of Mozambique is chicken with piri piri sauce. To read more click on culture of Mozambique.
Geography of Mozambique
Mozambique is considered to be a large nation because of its total area. Its total land area is 799,380 km² (approx. 308,641 mi²). Mozambique is located in Africa. Its capital city is Maputo. Mozambique has 6 neighbouring countries. Its neighbours include Malawi, South Africa, Swaziland, Tanzania, Zambia, and Zimbabwe. Total length of land borders of Mozambique is 4783 kilometers (~1,847 miles).
The highest point of Mozambique is Monte Binga, with its official height being 2436 m (7,993 ft). Including land mass and EEZ, the total area of Mozambique is approximately 1,378,366 km² (~532,188 mi²). The most notable natural resources found in Mozambique are coal, titanium, natural gas, hydropower, tantalum, graphite.To read more click on geography of Mozambique.
Economy of Mozambique
The currency of the country is Mozambican metical. The symbol used for this currency is MT, and it is abbreviated as MZN. 25% of population in the country are unemployed. The total number of unemployed people in Mozambique is 7,632,168. Each year, Mozambique exports around $3.92 billion and imports roughly $7.07 billion. The Gini Index of the country is 45.6. Mozambique has a Human Development Index (HDI) of 0.393.The Global Peace Index (GPI) for Mozambique is 1.976. Mozambique 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 aluminum, petroleum products, chemicals (fertilizer, soap, paints), textiles, cement, glass, asbestos, tobacco, food, beverages.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Mozambique is $31,213 billion. Each year, consumers spend around $7,600 million. The ratio of consumer spending to GDP in Mozambique is 0%, and the ratio of consumer spending to the world consumer market is 0.0219. The corporate tax in Mozambique is set at 32%. Personal income tax ranges from 0% to 32%, depending on your specific situation and income level. VAT in Mozambique is 17%. In 2013, Mozambique received 2096.9 million USD in foreign aid.In 2014, the foreign aid amounted to 2084.9 USD.To read more click on economy of Mozambique.
Infrastructure of Mozambique
Infrastructure quality in Mozambique is rated to be at 2.15. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Mozambique, 20.2% of the population has access to electricity. There are 89,737 internet hosts in Mozambique. Mozambique has 98 airports nationwide.
The logistics performance index of Mozambique is 2.23. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.08. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Mozambique is 7. To read more click on infrastructure of Mozambique.
Politics of Mozambique
Mozambique, is a unitary presidential republic. With regard to political and civil freedoms, Mozambique is 2. Citizens in Mozambique experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Mozambique, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Filipe Nyusi.
According to the World Bank Group, the government effectiveness index of Mozambique is -0.73. This indicates that the government of Mozambique is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Mozambique, the legislative power is vested in a Assembly of the Republic. The Global Peace Index (GPI) for Mozambique is 1.976. The strength of legal rights index for Mozambique is 1. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Mozambique received 2096.9 million USD in foreign aid. In 2014, the foreign aid amounted to 2084.9 USD. Mozambique is a member of the United Nations (UN). On 16 September 1975, it joined the UN as a full member state. Mozambique is a member of the African Union (AU). On 18 July 1975, it joined the AU as a full member state. Mozambique is a member of the World Bank. To read more click on politics of Mozambique.
Environment of Mozambique
Mozambique emits 0.1 metric tons per capita of CO2. 620000 km² of Mozambique's territory is covered in forests. and forest land comprises 78% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Mozambique is 7. To read more click on environment of Mozambique.
Company formation in Mozambique
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 Mozambique.
When establishing a company in Mozambique, 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 Mozambique that will affect the establishment and growth of one's business. Contact us or click on company formation in Mozambique to read additional information when setting up a business.
Bank account opening in Mozambique
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Mozambique. 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 Mozambique, 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 Mozambique or contact us.