The ISO code of El Salvador is SV according to the ISO 3166 standard. The local name of the country is the same as its English name. El Salvador capital city is San Salvador. People in El Salvador speak the Spanish language. On 15 September 1821, El Salvador emerged as a sovereign political entity. In the year 09/15/1821, El Salvador emerged as a sovereign political entity. The largest city in El Salvador is San Salvador.
El Salvador is located in the UTC -06:00 time zone, which is also called Central Standard Time or CST. The internet country code top-level domain (ccTLD) for El Salvador is .sv. The International dialing code for El Salvador is 503. People in El Salvador drive on the right side of the road. Total land area of El Salvador is 21,041 km² (approx. 8,124 mi²). El Salvador is not a landlocked country. It means that is is bordered by at least one major body of water.
El Salvador is located in North America. El Salvador 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 El Salvador faces various issues, including deforestation, soil erosion, water pollution, contamination of soils from disposal of toxic wastes.
Doing business in El Salvador
We offer various corporate services in El Salvador jurisdiction. These services can serve both, people coming from El Salvador and foreigners. If you plan on doing business in El Salvador you might be interested in contacting us.
To find out about starting your business in El Salvador click on company formation in El Salvador.
To find out how to open a bank account in El Salvador and moreover what type of account Confidus Solutions suggests to create, please click on bank account in El Salvador.
Choose preferred service below or continue reading to find out more about El Salvador.
Demographics of El Salvador
The total population of El Salvador is 6,411,558 people. In El Salvador, the population density is 301 people per square kilometer (783 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 El Salvador is 0.1978. El Salvador has approximately 41615 foreign immigrants. The median age is approximately 25.6 years. In El Salvador, 25.5 in every 100 people use internet. El Salvador has a Human Development Index (HDI) of 0.662.
The majority religion of El Salvador is Christianity, El Salvador 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 El Salvador.
Culture of El Salvador
People in El Salvador speak the Spanish language. According to data on inbound tourists in El Salvador, 1,283,000 tourists arrive in the country each year. The first McDonalds in El Salvador was opened on 20 July 1972, and it was located in San Salvador. One of the most popular national dishes of El Salvador is pupusa. To read more click on culture of El Salvador.
Geography of El Salvador
El Salvador is considered to be a large nation because of its total area. Its total land area is 21,041 km² (approx. 8,124 mi²). El Salvador is located in North America. Its capital city is San Salvador. El Salvador has 2 neighbouring countries. Its neighbours include Guatemala, and Honduras. Total length of land borders of El Salvador is 590 kilometers (~228 miles).
The highest point of El Salvador is Cerro El Pital, with its official height being 2730 m (8,957 ft). Including land mass and EEZ, the total area of El Salvador is approximately 112,003 km² (~43,244 mi²). The most notable natural resources found in El Salvador are hydropower, geothermal power, petroleum, arable land.To read more click on geography of El Salvador.
Economy of El Salvador
The currency of the country is United States dollar. The symbol used for this currency is $, and it is abbreviated as USD. 4.5% of population in the country are unemployed. The total number of unemployed people in El Salvador is 288,520. Each year, El Salvador exports around $5.11 billion and imports roughly $10.03 billion. The Gini Index of the country is 46.9. El Salvador has a Human Development Index (HDI) of 0.662.The Global Peace Index (GPI) for El Salvador is 2.263. El Salvador has a government debt of 24.4% of the country's Gross Domestic Product (GDP), as assessed in 2014. El Salvador 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 food processing, beverages, petroleum, chemicals, fertilizer, textiles, furniture, light metals.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in El Salvador is $51,193 billion. Each year, consumers spend around $19,369 million. The ratio of consumer spending to GDP in El Salvador is 0%, and the ratio of consumer spending to the world consumer market is 0.0558. The corporate tax in El Salvador is set at 30%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level. VAT in El Salvador is 13%. In 2013, El Salvador received 230.4 million USD in foreign aid.In 2014, the foreign aid amounted to 285.9 USD.To read more click on economy of El Salvador.
Infrastructure of El Salvador
Infrastructure quality in El Salvador is rated to be at 2.63. 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 El Salvador, 93.7% of the population has access to electricity. There are 24,070 internet hosts in El Salvador. El Salvador has 68 airports nationwide.
The logistics performance index of El Salvador is 2.96. 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.
The number of road motor vehicles per 1000 inhabitants in El Salvador is 11. To read more click on infrastructure of El Salvador.
Politics of El Salvador
El Salvador, is a unitary presidential constitutional republic. With regard to political and civil freedoms, El Salvador is 1. Citizens in El Salvador experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Salvador Sánchez Cerén.
According to the World Bank Group, the government effectiveness index of El Salvador is -0.02. This indicates that the government of El Salvador 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 El Salvador before considering any business maneuvers.In El Salvador, the legislative power is vested in a Legislative Assembly. The Global Peace Index (GPI) for El Salvador is 2.263. The strength of legal rights index for El Salvador is 9. Overall, it is considered to be rather strong - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders quite well; credit information is abundant and easily accessible. In 2013, El Salvador received 230.4 million USD in foreign aid. In 2014, the foreign aid amounted to 285.9 USD. El Salvador 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. El Salvador is one of the original UN member states who founded the organization. El Salvador is a member of the World Bank. To read more click on politics of El Salvador.
Environment of El Salvador
El Salvador emits 1.1 metric tons per capita of CO2. 2980 km² of El Salvador's territory is covered in forests. and forest land comprises 14% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in El Salvador is 11. To read more click on environment of El Salvador.
Company formation in El Salvador
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 El Salvador.
When establishing a company in El Salvador, 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 El Salvador that will affect the establishment and growth of one's business. Contact us or click on company formation in El Salvador to read additional information when setting up a business.
Bank account opening in El Salvador
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in El Salvador. 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 El Salvador, 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 El Salvador or contact us.