The ISO code of Comoros is KM according to the ISO 3166 standard. The local name of the country is Comores. Comoros capital city is Moroni. People in Comoros speak the French, Arabic, and Comorian languages. In the year 1975, Comoros emerged as a sovereign political entity. The largest city in Comoros is Moroni.
Comoros is located in the UTC +03:00 time zone, which is also called Eastern Africa Time or EAT. The internet country code top-level domain (ccTLD) for Comoros is .km. The International dialing code for Comoros is 269. People in Comoros drive on the right side of the road. Total land area of Comoros is 1,862 km² (approx. 719 mi²). Comoros is not a landlocked country. It means that is is bordered by at least one major body of water.
Comoros is located in Africa. Comoros 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 Comoros faces various issues, including soil degradation and erosion results from crop cultivation on slopes without proper terracing, deforestation.
Doing business in Comoros
We offer various corporate services in Comoros jurisdiction. These services can serve both, people coming from Comoros and foreigners. If you plan on doing business in Comoros you might be interested in contacting us.
To find out about starting your business in Comoros click on company formation in Comoros.
To find out how to open a bank account in Comoros and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Comoros.
Choose preferred service below or continue reading to find out more about Comoros.
Demographics of Comoros
The total population of Comoros is 832,347 people. In Comoros, the population density is 389 people per square kilometer (1,012 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 Comoros is 0. Comoros has approximately 12511 foreign immigrants. The median age is approximately 19.2 years. In Comoros, 5.98 in every 100 people use internet. Comoros has a Human Development Index (HDI) of 0.488.
The majority religion of Comoros is Islam, Comoros 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 Comoros.
Culture of Comoros
People in Comoros speak the French, Arabic, and Comorian languages. One of the most popular national dishes of Comoros is langouste a la vanille. To read more click on culture of Comoros.
Geography of Comoros
Comoros is considered to be a large nation because of its total area. Its total land area is 1,862 km² (approx. 719 mi²). Comoros is located in Africa. Its capital city is Moroni. Comoros has no land borders.
The highest point of Comoros is Mount Karthala, with its official height being 2360 m (7,743 ft). Including land mass and EEZ, the total area of Comoros is approximately 165,614 km² (~63,944 mi²). As for natural resources, Comoros is known for its fish.To read more click on geography of Comoros.
Economy of Comoros
The currency of the country is Comorian franc. The symbol used for this currency is Fr, and it is abbreviated as KMF. 4.3% of population in the country are unemployed. The total number of unemployed people in Comoros is 35,791. Each year, Comoros exports around $0.02 billion and imports roughly $0.21 billion. The Gini Index of the country is 64.3. Comoros has a Human Development Index (HDI) of 0.488.Comoros has a government debt of 0.4% of the country's Gross Domestic Product (GDP), as assessed in 2007. Comoros 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, tourism, perfume distillation.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Comoros is $1,190 billion. Each year, consumers spend around $535 million. The ratio of consumer spending to GDP in Comoros is 86%, and the ratio of consumer spending to the world consumer market is 0.0015. The corporate tax in Comoros is set at 35%. Personal income tax ranges from 5% to 15%, depending on your specific situation and income level. VAT in Comoros is 10%. In 2013, Comoros received 68.6 million USD in foreign aid.In 2014, the foreign aid amounted to 51.8 USD.To read more click on economy of Comoros.
Infrastructure of Comoros
Infrastructure quality in Comoros is rated to be at 2.3. 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 Comoros, 69.3% of the population has access to electricity. There are 14 internet hosts in Comoros. Comoros has 4 airports nationwide.
The logistics performance index of Comoros is 2.4. 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 2.37. 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 Comoros is 27. To read more click on infrastructure of Comoros.
Politics of Comoros
Comoros, is a federal presidential republic. With regard to political and civil freedoms, Comoros is 2. Citizens in Comoros experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Comoros, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Azali Assoumani.
According to the World Bank Group, the government effectiveness index of Comoros is -1.67. This indicates that the government of Comoros is very ineffective. The government is unable to provide civil and public services for its citizens and has fostered a situation contributing to political and social unrest.In Comoros, the legislative power is vested in a Assembly of the Union. The strength of legal rights index for Comoros is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. In 2013, Comoros received 68.6 million USD in foreign aid. In 2014, the foreign aid amounted to 51.8 USD. Comoros is a member of the United Nations (UN). On 12 November 1975, it joined the UN as a full member state. Comoros is a member of the African Union (AU). On 18 July 1975, it joined the AU as a full member state. Comoros is a member of the World Bank. To read more click on politics of Comoros.
Environment of Comoros
Comoros emits 0.2 metric tons per capita of CO2. 50 km² of Comoros's territory is covered in forests. and forest land comprises 3% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Comoros is 27. To read more click on environment of Comoros.
Company formation in Comoros
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 Comoros.
When establishing a company in Comoros, 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 Comoros that will affect the establishment and growth of one's business. Contact us or click on company formation in Comoros to read additional information when setting up a business.
Bank account opening in Comoros
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Comoros. 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 Comoros, 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 Comoros or contact us.