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Syria

The ISO code of Syria is SY according to the ISO 3166 standard. The local name of the country is Suriyah. Syria capital city is Damascus. People in Syria speak the Arabic language. On 17 April 1946, Syria emerged as a sovereign political entity. In the year 04/17/1946, Syria emerged as a sovereign political entity. The largest cities in Syria are Damascus, Aleppo.

Syria is located in the UTC +02:00 time zone, which is also called Eastern European Time or EET. The internet country code top-level domain (ccTLD) for Syria is .sy. Other domains assigned to Syria are سورية.. The International dialing code for Syria is 963. People in Syria drive on the right side of the road. Total land area of Syria is 185,180 km² (approx. 71,498 mi²). Syria is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Syria

Syria is located in Asia. Syria 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 Syria faces various issues, including deforestation, overgrazing, soil erosion, desertification, water pollution from raw sewage and petroleum refining wastes, inadequate potable water.

Doing business in Syria

We offer various corporate services in Syria jurisdiction. These services can serve both, people coming from Syria and foreigners. If you plan on doing business in Syria you might be interested in contacting us.

To find out about starting your business in Syria click on company formation in Syria.

To find out how to open a bank account in Syria and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Syria.

Choose preferred service below or continue reading to find out more about Syria.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Syria

The total population of Syria is 18,284,407 people. In Syria, the population density is 115 people per square kilometer (299 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Syria is 0.5399. Syria has approximately 875189 foreign immigrants. The median age is approximately 23.3 years. In Syria, 24.3 in every 100 people use internet. Syria has a Human Development Index (HDI) of 0.658.

The majority religion of Syria is Islam, Syria 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 Syria.

Culture of Syria

People in Syria speak the Arabic language. One of the most popular national dishes of Syria is kibbeh. To read more click on culture of Syria.

Geography of Syria

Syria is considered to be a large nation because of its total area. Its total land area is 185,180 km² (approx. 71,498 mi²). Syria is located in Asia. Its capital city is Damascus. Syria has 5 neighbouring countries. Its neighbours include Iraq, Israel, Jordan, Lebanon, and Turkey. Total length of land borders of Syria is 2363 kilometers (~912 miles).

The highest point of Syria is Jabal el-Sheikh, with its official height being 2814 m (9,233 ft). Including land mass and EEZ, the total area of Syria is approximately 195,683 km² (~75,553 mi²). The most notable natural resources found in Syria are petroleum, phosphates, chrome, manganese, asphalt, iron ore, rock salt, marble, gypsum, hydropower.To read more click on geography of Syria.

Economy of Syria

The currency of the country is Syrian pound. The symbol used for this currency is £, and it is abbreviated as SYP. 15.2% of population in the country are unemployed. The total number of unemployed people in Syria is 2,779,230. Each year, Syria exports around $2.67 billion and imports roughly $8.92 billion. The Gini Index of the country is 42. Syria has a Human Development Index (HDI) of 0.658.The Global Peace Index (GPI) for Syria is 3.645. Syria has a government debt of 44% of the country's Gross Domestic Product (GDP), as assessed in 2012. Syria 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 petroleum, textiles, food processing, beverages, tobacco, phosphate rock mining, cement, oil seeds crushing, automobile assembly.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Syria is $121,397 billion. Each year, consumers spend around $37,363 million. The ratio of consumer spending to GDP in Syria is 0%, and the ratio of consumer spending to the world consumer market is 0.1077. The corporate tax in Syria is set at 22%. Personal income tax ranges from 5% to 15%, depending on your specific situation and income level. In 2013, Syria received 1671.5 million USD in foreign aid.In 2014, the foreign aid amounted to 335.1 USD.To read more click on economy of Syria.

Infrastructure of Syria

Infrastructure quality in Syria is rated to be at 2.08. 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 Syria, 96.3% of the population has access to electricity. There are 416 internet hosts in Syria. Syria has 90 airports nationwide.

The logistics performance index of Syria is 2.09. 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 1.9. 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.

To read more click on infrastructure of Syria.

Politics of Syria

Syria, is a unitary dominant-party semi-presidential republic. With regard to political and civil freedoms, Syria is 3. Citizens in Syria experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Bashar al-Assad.

According to the World Bank Group, the government effectiveness index of Syria is -1.44. This indicates that the government of Syria is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Syria, the legislative power is vested in a People's Assembly. The Global Peace Index (GPI) for Syria is 3.645. The strength of legal rights index for Syria 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, Syria received 1671.5 million USD in foreign aid. In 2014, the foreign aid amounted to 335.1 USD. Syria 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. Syria is one of the original UN member states who founded the organization. Syria is a member of the World Bank. To read more click on politics of Syria.

Environment of Syria

Syria emits 2.7 metric tons per capita of CO2. 4610 km² of Syria's territory is covered in forests. and forest land comprises 2% of all the land in the country. To read more click on environment of Syria.

Company formation in Syria

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 Syria.

When establishing a company in Syria, 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 Syria that will affect the establishment and growth of one's business. Contact us or click on company formation in Syria to read additional information when setting up a business.

Bank account opening in Syria

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Syria. 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 Syria, 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 Syria or contact us.