The ISO code of Bhutan is BT according to the ISO 3166 standard. The local name of the country is Dru Ü. Bhutan capital city is Thimphu. People in Bhutan speak the Dzongkha language. In the year 1907, Bhutan emerged as a sovereign political entity. The largest city in Bhutan is Thimphu.
Bhutan is located in the UTC +06:00 time zone, which is also called Bhutan Time or BTT. The internet country code top-level domain (ccTLD) for Bhutan is .bt. Other domains assigned to Bhutan are .asia. The International dialing code for Bhutan is 975. People in Bhutan drive on the left side of the road. Total land area of Bhutan is 38,394 km² (approx. 14,824 mi²). Bhutan is a landlocked country.
Bhutan is located in Asia. Bhutan 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 Bhutan faces various issues, including soil erosion, limited access to potable water.
Doing business in Bhutan
We offer various corporate services in Bhutan jurisdiction. These services can serve both, people coming from Bhutan and foreigners. If you plan on doing business in Bhutan you might be interested in contacting us.
To find out about starting your business in Bhutan click on company formation in Bhutan.
To find out how to open a bank account in Bhutan and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Bhutan.
Choose preferred service below or continue reading to find out more about Bhutan.
Demographics of Bhutan
The total population of Bhutan is 817,054 people. In Bhutan, the population density is 20 people per square kilometer (52 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 Bhutan is 0.605. Bhutan has approximately 50862 foreign immigrants. The median age is approximately 26.2 years. In Bhutan, 25.43 in every 100 people use internet. Bhutan has a Human Development Index (HDI) of 0.584.
The majority religion of Bhutan is Buddhism, Bhutan 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 Bhutan.
Culture of Bhutan
People in Bhutan speak the Dzongkha language. According to data on inbound tourists in Bhutan, 116,000 tourists arrive in the country each year. One of the most popular national dishes of Bhutan is ema datshi. To read more click on culture of Bhutan.
Geography of Bhutan
Bhutan is considered to be a large nation because of its total area. Its total land area is 38,394 km² (approx. 14,824 mi²). Bhutan is located in Asia. Its capital city is Thimphu. Bhutan has 2 neighbouring countries. Its neighbours include People's Republic of China, and India. Total length of land borders of Bhutan is 1136 kilometers (~439 miles).
The highest point of Bhutan is Gangkhar Puensum, with its official height being 7570 m (24,837 ft). Including land mass and EEZ, the total area of Bhutan is approximately 38,394 km² (~14,824 mi²). The most notable natural resources found in Bhutan are timber, hydropower, gypsum, calcium carbonate.To read more click on geography of Bhutan.
Economy of Bhutan
The currency of the country is Bhutanese ngultrum. The symbol used for this currency is Nu., and it is abbreviated as BTN. 2.4% of population in the country are unemployed. The total number of unemployed people in Bhutan is 19,609. Each year, Bhutan exports around $0.72 billion and imports roughly $1.28 billion. The Gini Index of the country is 38.7. Bhutan has a Human Development Index (HDI) of 0.584.The Global Peace Index (GPI) for Bhutan is 1.416. Bhutan has a government debt of 78.6% of the country's Gross Domestic Product (GDP), as assessed in 2012. Bhutan 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 cement, wood products, processed fruits, alcoholic beverages, calcium carbide, tourism.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Bhutan is $5,871 billion. Each year, consumers spend around $495 million. The ratio of consumer spending to GDP in Bhutan is 0%, and the ratio of consumer spending to the world consumer market is 0.0014. The corporate tax in Bhutan is set at 30%. Personal income tax ranges from 0% to 25%, depending on your specific situation and income level. In 2013, Bhutan received 161.2 million USD in foreign aid.In 2014, the foreign aid amounted to 142.4 USD.To read more click on economy of Bhutan.
Infrastructure of Bhutan
Infrastructure quality in Bhutan is rated to be at 2.18. 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 Bhutan, 75.6% of the population has access to electricity. There are 14,590 internet hosts in Bhutan. Bhutan has 2 airports nationwide.
The logistics performance index of Bhutan is 2.29. 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 2.28. 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 Bhutan is 68. To read more click on infrastructure of Bhutan.
Politics of Bhutan
Bhutan, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Bhutan is 2. Citizens in Bhutan experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Bhutan, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Jigme Khesar Namgyel Wangchuck.
According to the World Bank Group, the government effectiveness index of Bhutan is 0.27. This indicates that the government of Bhutan 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 Bhutan before considering any business maneuvers.In Bhutan, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Bhutan is 1.416. The strength of legal rights index for Bhutan 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, Bhutan received 161.2 million USD in foreign aid. In 2014, the foreign aid amounted to 142.4 USD. Bhutan is a member of the United Nations (UN). On 21 September 1971, it joined the UN as a full member state. Bhutan is a member of the World Bank. To read more click on politics of Bhutan.
Environment of Bhutan
Bhutan emits 0.8 metric tons per capita of CO2. 24764 km² of Bhutan's territory is covered in forests. and forest land comprises 64% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Bhutan is 68. To read more click on environment of Bhutan.
Company formation in Bhutan
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 Bhutan.
When establishing a company in Bhutan, 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 Bhutan that will affect the establishment and growth of one's business. Contact us or click on company formation in Bhutan to read additional information when setting up a business.
Bank account opening in Bhutan
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Bhutan. 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 Bhutan, 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 Bhutan or contact us.