The ISO code of Guam is GU according to the ISO 3166 standard. The local name of the country is the same as its English name. Guam capital city is Hagåtña. People in Guam speak the English, and Chamorro languages. In the year 1950, Guam emerged as a sovereign political entity.
Guam is located in the UTC +10:00 time zone, which is also called Chamorro Time Zone or ChST. The internet country code top-level domain (ccTLD) for Guam is .gu. The International dialing code for Guam is 1671. People in Guam drive on the right side of the road. Total land area of Guam is 544 km² (approx. 210 mi²). Guam is not a landlocked country. It means that is is bordered by at least one major body of water.
Guam is located in Oceania. Guam is considered to be a developed 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 Guam faces various issues, including extirpation of native bird population by the rapid proliferation of the brown tree snake, an exotic, invasive species.
Doing business in Guam
We offer various corporate services in Guam jurisdiction. These services can serve both, people coming from Guam and foreigners. If you plan on doing business in Guam you might be interested in contacting us.
To find out about starting your business in Guam click on company formation in Guam.
To find out how to open a bank account in Guam and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Guam.
Choose preferred service below or continue reading to find out more about Guam.
Demographics of Guam
The total population of Guam is 165,718 people. In Guam, the population density is 295 people per square kilometer (767 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 Guam is 0. Guam has approximately 75000 foreign immigrants. The median age is approximately 29.9 years. In Guam, 61.53 in every 100 people use internet.
The majority religion of Guam is Christianity, Guam is considered to be a developed 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 Guam.
Culture of Guam
People in Guam speak the English, and Chamorro languages. According to data on inbound tourists in Guam, 1,334,000 tourists arrive in the country each year. The first McDonalds in Guam was opened on 10 June 1971, and it was located in Dededo. One of the most popular national dishes of Guam is chicken kelaguen. To read more click on culture of Guam.
Geography of Guam
Guam is considered to be a large nation because of its total area. Its total land area is 544 km² (approx. 210 mi²). Guam is located in Oceania. Its capital city is Hagåtña. Guam has no land borders.
The highest point of Guam is Mount Lamlam, with its official height being 406 m (1,332 ft). Including land mass and EEZ, the total area of Guam is approximately 544 km² (~210 mi²). As for natural resources, Guam is known for its aquatic wildlife.To read more click on geography of Guam.
Economy of Guam
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 Guam is 7,457. Each year, Guam exports around $0.04 billion and imports roughly $0.9 billion. The Gini Index of the country is 40.8. Guam has a government debt of 51% of the country's Gross Domestic Product (GDP), as assessed in 2012. Guam is considered to be a developed 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 national defense, tourism, construction, transshipment services, concrete products, printing and publishing, food processing, textiles.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Guam is $5 billion. The corporate tax in Guam is set at 35%. VAT in Guam is 0%, and it is known as Sales Tax. To read more click on economy of Guam.
Infrastructure of Guam
In Guam, 59.3% of the population has access to electricity. There are 23 internet hosts in Guam. Guam has 5 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Guam is 68. To read more click on infrastructure of Guam.
Politics of Guam
Guam, is a representative democracy. The head of the government is Donald Trump.
According to the World Bank Group, the government effectiveness index of Guam is 0.42. This indicates that the government of Guam 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 Guam before considering any business maneuvers.In Guam, the legislative power is vested in a Legislature of Guam. To read more click on politics of Guam.
Environment of Guam
The number of road motor vehicles per 1000 inhabitants in Guam is 68. To read more click on environment of Guam.
Company formation in Guam
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 Guam.
When establishing a company in Guam, 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 Guam that will affect the establishment and growth of one's business. Contact us or click on company formation in Guam to read additional information when setting up a business.
Bank account opening in Guam
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Guam. 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 Guam, 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 Guam or contact us.