The ISO code of Equatorial Guinea is GQ according to the ISO 3166 standard. The local name of the country is Guinea Ecuatorial. Equatorial Guinea capital city is Malabo. People in Equatorial Guinea speak the French, Spanish, and Portuguese languages. On 12 October 1968, Equatorial Guinea emerged as a sovereign political entity. In the year 10/12/1968, Equatorial Guinea emerged as a sovereign political entity. The largest city in Equatorial Guinea is Malabo.
Equatorial Guinea is located in the UTC +01:00 time zone, which is also called West Africa Time or WAT. The internet country code top-level domain (ccTLD) for Equatorial Guinea is .gq. The International dialing code for Equatorial Guinea is 240. People in Equatorial Guinea drive on the right side of the road. Total land area of Equatorial Guinea is 28,051 km² (approx. 10,831 mi²). Equatorial Guinea is not a landlocked country. It means that is is bordered by at least one major body of water.
Equatorial Guinea is located in Africa. Equatorial Guinea 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 Equatorial Guinea faces various issues, including non-potable tap water, deforestation.
Doing business in Equatorial Guinea
We offer various corporate services in Equatorial Guinea jurisdiction. These services can serve both, people coming from Equatorial Guinea and foreigners. If you plan on doing business in Equatorial Guinea you might be interested in contacting us.
To find out about starting your business in Equatorial Guinea click on company formation in Equatorial Guinea.
To find out how to open a bank account in Equatorial Guinea and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Equatorial Guinea.
Choose preferred service below or continue reading to find out more about Equatorial Guinea.
Demographics of Equatorial Guinea
The total population of Equatorial Guinea is 1,313,894 people. In Equatorial Guinea, the population density is 58 people per square kilometer (151 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is diverse according to a fractionalization scale which for Equatorial Guinea is 0.3467. Equatorial Guinea has approximately 10141 foreign immigrants. The median age is approximately 19.4 years. In Equatorial Guinea, 13.94 in every 100 people use internet. Equatorial Guinea has a Human Development Index (HDI) of 0.556.
The majority religion of Equatorial Guinea is Christianity, Equatorial Guinea 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 Equatorial Guinea.
Culture of Equatorial Guinea
People in Equatorial Guinea speak the French, Spanish, and Portuguese languages. One of the most popular national dishes of Equatorial Guinea is succotash. To read more click on culture of Equatorial Guinea.
Geography of Equatorial Guinea
Equatorial Guinea is considered to be a large nation because of its total area. Its total land area is 28,051 km² (approx. 10,831 mi²). Equatorial Guinea is located in Africa. Its capital city is Malabo. Equatorial Guinea has 2 neighbouring countries. Its neighbours include Cameroon, and Gabon. Total length of land borders of Equatorial Guinea is 528 kilometers (~204 miles).
The highest point of Equatorial Guinea is Pico Basile, with its official height being 3008 m (9,869 ft). Including land mass and EEZ, the total area of Equatorial Guinea is approximately 331,560 km² (~128,015 mi²). The most notable natural resources found in Equatorial Guinea are petroleum, natural gas, timber, gold, bauxite, diamonds, tantalum, sand and gravel, clay.To read more click on geography of Equatorial Guinea.
Economy of Equatorial Guinea
The currency of the country is Central African CFA Franc. The symbol used for this currency is Fr, and it is abbreviated as XAF. 6.9% of population in the country are unemployed. The total number of unemployed people in Equatorial Guinea is 90,659. Each year, Equatorial Guinea exports around $15.44 billion and imports roughly $7.94 billion. The Gini Index of the country is 65. Equatorial Guinea has a Human Development Index (HDI) of 0.556.The Global Peace Index (GPI) for Equatorial Guinea is 1.987. Equatorial Guinea has a government debt of 55.474% of the country's Gross Domestic Product (GDP), as assessed in 2012. Equatorial Guinea 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, natural gas, sawmilling.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Equatorial Guinea is $28,621 billion. Each year, consumers spend around $878 million. The ratio of consumer spending to GDP in Equatorial Guinea is 0%, and the ratio of consumer spending to the world consumer market is 0.0026. The corporate tax in Equatorial Guinea is set at 35%. Personal income tax ranges from 0% to 35%, depending on your specific situation and income level. VAT in Equatorial Guinea is 15%, and it is known as Sales Tax. In 2013, Equatorial Guinea received 14.2 million USD in foreign aid.In 2014, the foreign aid amounted to 24.3 USD.To read more click on economy of Equatorial Guinea.
Infrastructure of Equatorial Guinea
Infrastructure quality in Equatorial Guinea is rated to be at 2.11. 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 Equatorial Guinea, 66% of the population has access to electricity. There are 7 internet hosts in Equatorial Guinea. Equatorial Guinea has 7 airports nationwide.
The logistics performance index of Equatorial Guinea is 2.35. 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 2.53. 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 Equatorial Guinea is 3. To read more click on infrastructure of Equatorial Guinea.
Politics of Equatorial Guinea
Equatorial Guinea, is a multi-party presidential republic. With regard to political and civil freedoms, Equatorial Guinea is 3. Citizens in Equatorial Guinea 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 Teodoro Obiang Nguema Mbasogo.
According to the World Bank Group, the government effectiveness index of Equatorial Guinea is -1.45. This indicates that the government of Equatorial Guinea is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Equatorial Guinea, the legislative power is vested in a Parliament. The Global Peace Index (GPI) for Equatorial Guinea is 1.987. The strength of legal rights index for Equatorial Guinea 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, Equatorial Guinea received 14.2 million USD in foreign aid. In 2014, the foreign aid amounted to 24.3 USD. Equatorial Guinea is a member of the United Nations (UN). On 12 November 1968, it joined the UN as a full member state. Equatorial Guinea is a member of the African Union (AU). On 12 October 1968, it joined the AU as a full member state. Equatorial Guinea is a member of the World Bank. To read more click on politics of Equatorial Guinea.
Environment of Equatorial Guinea
Equatorial Guinea emits 8.9 metric tons per capita of CO2. 16320 km² of Equatorial Guinea's territory is covered in forests. and forest land comprises 58% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Equatorial Guinea is 3. To read more click on environment of Equatorial Guinea.
Company formation in Equatorial Guinea
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 Equatorial Guinea.
When establishing a company in Equatorial Guinea, 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 Equatorial Guinea that will affect the establishment and growth of one's business. Contact us or click on company formation in Equatorial Guinea to read additional information when setting up a business.
Bank account opening in Equatorial Guinea
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Equatorial Guinea. 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 Equatorial Guinea, 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 Equatorial Guinea or contact us.