The ISO code of Philippines is PH according to the ISO 3166 standard. The local name of the country is Pilipinas. Philippines capital city is Manila. People in Philippines speak the English,Filipino language. On 4 July 1946, Philippines emerged as a sovereign political entity. In the year 07/04/1946, Philippines emerged as a sovereign political entity. The largest cities in Philippines are Manila, Quezon City.
Philippines is located in the UTC +08:00 time zone, which is also called Philippine Standard Time or PST. The internet country code top-level domain (ccTLD) for Philippines is .ph. Other domains assigned to Philippines are .asia. The International dialing code for Philippines is 63. People in Philippines drive on the right side of the road. Total land area of Philippines is 343,448 km² (approx. 132,605 mi²). Philippines is not a landlocked country. It means that is is bordered by at least one major body of water.
Philippines is located in Asia. Philippines 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 Philippines faces various issues, including uncontrolled deforestation especially in watershed areas, soil erosion, air and water pollution in major urban centers, coral reef degradation, increasing pollution of coastal mangrove swamps that are important fish breeding grounds.
Doing business in Philippines
We offer various corporate services in Philippines jurisdiction. These services can serve both, people coming from Philippines and foreigners. If you plan on doing business in Philippines you might be interested in contacting us.
To find out about starting your business in Philippines click on company formation in Philippines.
To find out how to open a bank account in Philippines and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Philippines.
Choose preferred service below or continue reading to find out more about Philippines.
Demographics of Philippines
The total population of Philippines is 106,512,074 people. In Philippines, the population density is 341.04 people per square kilometer (887 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 Philippines is 0.2385. Philippines has approximately 211862 foreign immigrants. The median age is approximately 23.5 years. In Philippines, 36.24 in every 100 people use internet. Philippines has a Human Development Index (HDI) of 0.66.
The majority religion of Philippines is Christianity, Philippines 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 Philippines.
Culture of Philippines
People in Philippines speak the English,Filipino language. According to data on inbound tourists in Philippines, 4,681,000 tourists arrive in the country each year. The first McDonalds in Philippines was opened on 27 September 1981, and it was located in Morayta, Sampaloc, Manila. One of the most popular national dishes of Philippines is adobo. To read more click on culture of Philippines.
Geography of Philippines
Philippines is considered to be a large nation because of its total area. Its total land area is 343,448 km² (approx. 132,605 mi²). Philippines is located in Asia. Its capital city is Manila. Philippines has no land borders.
The highest point of Philippines is Mount Apo, with its official height being 2954 m (9,692 ft). Including land mass and EEZ, the total area of Philippines is approximately 1,934,228 km² (~746,806 mi²). The most notable natural resources found in Philippines are timber, petroleum, nickel, cobalt, silver, gold, salt, copper.To read more click on geography of Philippines.
Economy of Philippines
The currency of the country is Philippine piso. The symbol used for this currency is ₱, and it is abbreviated as PHP. 2.7% of population in the country are unemployed. The total number of unemployed people in Philippines is 2,875,826. Each year, Philippines exports around $47.45 billion and imports roughly $63.91 billion. The Gini Index of the country is 46. Philippines has a Human Development Index (HDI) of 0.66.The Global Peace Index (GPI) for Philippines is 2.462. Philippines has a government debt of 48.2% of the country's Gross Domestic Product (GDP), as assessed in 2012. Philippines 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 electronics assembly, garments, footwear, pharmaceuticals, chemicals, wood products, food processing, petroleum refining, fishing.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Philippines is $693,420 billion. Each year, consumers spend around $199,426 million. The ratio of consumer spending to GDP in Philippines is 0%, and the ratio of consumer spending to the world consumer market is 0.46. The corporate tax in Philippines is set at 30%. Personal income tax ranges from 5% to 32%, depending on your specific situation and income level. VAT in Philippines is 12%. To read more click on economy of Philippines.
Infrastructure of Philippines
Infrastructure quality in Philippines is rated to be at 2.6. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Philippines, 87.5% of the population has access to electricity. There are 425,812 internet hosts in Philippines. Philippines has 247 airports nationwide.
The logistics performance index of Philippines is 3. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
To read more click on infrastructure of Philippines.
Politics of Philippines
Philippines, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Philippines is 2. Citizens in Philippines experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Philippines, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Rodrigo Duterte.
According to the World Bank Group, the government effectiveness index of Philippines is 0.19. This indicates that the government of Philippines is mediocre. While some public and civil services are limited, in other cases they can be considered adequate or even effective. Potential investors should carefully evaluate the governmental situation in Philippines before considering any business maneuvers.In Philippines, the legislative power is vested in a Congress. The Global Peace Index (GPI) for Philippines is 2.462. The strength of legal rights index for Philippines is 3. 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. Philippines is a member of the United Nations (UN). On 24 October 1945, it joined the UN at it inception date as a full member state. Philippines is one of the original UN member states who founded the organization. Philippines is a member of the World Bank. To read more click on politics of Philippines.
Environment of Philippines
Philippines emits 0.9 metric tons per capita of CO2. 71620 km² of Philippines's territory is covered in forests. and forest land comprises 21% of all the land in the country. To read more click on environment of Philippines.
Company formation in Philippines
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 Philippines.
When establishing a company in Philippines, 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 Philippines that will affect the establishment and growth of one's business. Contact us or click on company formation in Philippines to read additional information when setting up a business.
Bank account opening in Philippines
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Philippines. 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 Philippines, 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 Philippines or contact us.