The ISO code of Honduras is HN according to the ISO 3166 standard. The local name of the country is the same as its English name. Honduras capital city is Tegucigalpa. People in Honduras speak the Spanish language. In the year 1925, Honduras emerged as a sovereign political entity. The largest city in Honduras is Tegucigalpa.
Honduras 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 Honduras is .hn. The International dialing code for Honduras is 504. People in Honduras drive on the right side of the road. Total land area of Honduras is 112,090 km² (approx. 43,278 mi²). Honduras is not a landlocked country. It means that is is bordered by at least one major body of water.
Honduras is located in North America. Honduras 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 Honduras faces various issues, including an expanding urban population, deforestation that results from logging and the clearing of land for agricultural purposes, further land degradation and soil erosion hastened by uncontrolled development and improper land use practices such as farming of marginal lands, mining activities polluting Lago de Yojoa (the country's largest source of fresh water), as well as several rivers and streams, with heavy metals.
Doing business in Honduras
We offer various corporate services in Honduras jurisdiction. These services can serve both, people coming from Honduras and foreigners. If you plan on doing business in Honduras you might be interested in contacting us.
To find out about starting your business in Honduras click on company formation in Honduras.
To find out how to open a bank account in Honduras and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Honduras.
Choose preferred service below or continue reading to find out more about Honduras.
Demographics of Honduras
The total population of Honduras is 9,417,167 people. In Honduras, the population density is 75 people per square kilometer (195 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Honduras is 0.1867. Honduras has approximately 27503 foreign immigrants. The median age is approximately 21.9 years. In Honduras, 18.12 in every 100 people use internet. Honduras has a Human Development Index (HDI) of 0.617.
The majority religion of Honduras is Christianity, Honduras 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 Honduras.
Culture of Honduras
People in Honduras speak the Spanish language. According to data on inbound tourists in Honduras, 863,000 tourists arrive in the country each year. The first McDonalds in Honduras was opened on 14 December 1995, and it was located in Tegucigalpa. One of the most popular national dishes of Honduras is baleada. To read more click on culture of Honduras.
Geography of Honduras
Honduras is considered to be a large nation because of its total area. Its total land area is 112,090 km² (approx. 43,278 mi²). Honduras is located in North America. Its capital city is Tegucigalpa. Honduras has 3 neighbouring countries. Its neighbours include Guatemala, El Salvador, and Nicaragua. Total length of land borders of Honduras is 1575 kilometers (~608 miles).
The highest point of Honduras is Cerro Las Minas, with its official height being 2870 m (9,416 ft). Including land mass and EEZ, the total area of Honduras is approximately 361,632 km² (~139,626 mi²). The most notable natural resources found in Honduras are timber, gold, silver, copper, lead, zinc, iron ore, antimony, coal, fish, hydropower.To read more click on geography of Honduras.
Economy of Honduras
The currency of the country is Honduran lempira. The symbol used for this currency is L, and it is abbreviated as HNL. 4.5% of population in the country are unemployed. The total number of unemployed people in Honduras is 423,773. Each year, Honduras exports around $7.88 billion and imports roughly $11.34 billion. The Gini Index of the country is 57.7. Honduras has a Human Development Index (HDI) of 0.617.The Global Peace Index (GPI) for Honduras is 2.21. Honduras 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 sugar, coffee, woven and knit apparel, wood products, cigars.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Honduras is $39,224 billion. Each year, consumers spend around $11,374 million. The ratio of consumer spending to GDP in Honduras is 0%, and the ratio of consumer spending to the world consumer market is 0.0328. The corporate tax in Honduras is set at 25%. Personal income tax ranges from 10% to 25%, depending on your specific situation and income level. VAT in Honduras is 12%, and it is known as Sales Tax. In 2013, Honduras received 571.5 million USD in foreign aid.In 2014, the foreign aid amounted to 620.4 USD.To read more click on economy of Honduras.
Infrastructure of Honduras
Infrastructure quality in Honduras is rated to be at 2.24. 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 Honduras, 82.2% of the population has access to electricity. There are 30,955 internet hosts in Honduras. Honduras has 103 airports nationwide.
The logistics performance index of Honduras is 2.61. 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 2.61. 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 Honduras is 513. To read more click on infrastructure of Honduras.
Politics of Honduras
Honduras, is a presidential republic. With regard to political and civil freedoms, Honduras is 2. Citizens in Honduras experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Honduras, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Juan Orlando Hernández.
According to the World Bank Group, the government effectiveness index of Honduras is -0.8. This indicates that the government of Honduras is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Honduras, the legislative power is vested in a National Congress. The Global Peace Index (GPI) for Honduras is 2.21. The strength of legal rights index for Honduras 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, Honduras received 571.5 million USD in foreign aid. In 2014, the foreign aid amounted to 620.4 USD. Honduras is a member of the United Nations (UN). On 17 December 1945, it joined the UN at it inception date as a full member state. Honduras is one of the original UN member states who founded the organization. Honduras is a member of the World Bank. To read more click on politics of Honduras.
Environment of Honduras
Honduras emits 1.1 metric tons per capita of CO2. 67254 km² of Honduras's territory is covered in forests. and forest land comprises 60% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Honduras is 513. To read more click on environment of Honduras.
Company formation in Honduras
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 Honduras.
When establishing a company in Honduras, 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 Honduras that will affect the establishment and growth of one's business. Contact us or click on company formation in Honduras to read additional information when setting up a business.
Bank account opening in Honduras
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Honduras. 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 Honduras, 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 Honduras or contact us.