The ISO code of Maldives is MV according to the ISO 3166 standard. The local name of the country is Dhivehi Raajje. Maldives capital city is Malé. People in Maldives speak the Dhivehi language. On 26 July 1965, Maldives emerged as a sovereign political entity. In the year 07/26/1965, Maldives emerged as a sovereign political entity. The largest city in Maldives is Malé.
Maldives is located in the UTC +05:00 time zone, which is also called Maldives Time or MVT. The internet country code top-level domain (ccTLD) for Maldives is .mv. The International dialing code for Maldives is 960. People in Maldives drive on the left side of the road. Total land area of Maldives is 298 km² (approx. 115 mi²). Maldives is not a landlocked country. It means that is is bordered by at least one major body of water.
Maldives is located in Asia. Maldives 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 Maldives faces various issues, including depletion of freshwater aquifers threatens water supplies, global warming and sea level rise, coral reef bleaching.
Doing business in Maldives
We offer various corporate services in Maldives jurisdiction. These services can serve both, people coming from Maldives and foreigners. If you plan on doing business in Maldives you might be interested in contacting us.
To find out about starting your business in Maldives click on company formation in Maldives.
To find out how to open a bank account in Maldives and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Maldives.
Choose preferred service below or continue reading to find out more about Maldives.
Demographics of Maldives
The total population of Maldives is 444,259 people. In Maldives, the population density is 1065 people per square kilometer (2,771 per square mile). Because of this statistic, this country is considered to be very densely. Maldives has approximately 84230 foreign immigrants. The median age is approximately 27.1 years. In Maldives, 38.93 in every 100 people use internet. Maldives has a Human Development Index (HDI) of 0.698.
The majority religion of Maldives is Islam, Maldives 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 Maldives.
Culture of Maldives
People in Maldives speak the Dhivehi language. According to data on inbound tourists in Maldives, 1,125,000 tourists arrive in the country each year. One of the most popular national dishes of Maldives is latti. To read more click on culture of Maldives.
Geography of Maldives
Maldives is considered to be a large nation because of its total area. Its total land area is 298 km² (approx. 115 mi²). Maldives is located in Asia. Its capital city is Malé. Maldives has no land borders.
The highest point of Maldives is an unnamed location, with its official height being 2.4 m (7 ft). Including land mass and EEZ, the total area of Maldives is approximately 923,620 km² (~356,610 mi²). As for natural resources, Maldives is known for its fish.To read more click on geography of Maldives.
Economy of Maldives
The currency of the country is Maldivian rufiyaa. The symbol used for this currency is .ރ, and it is abbreviated as MVR. 5% of population in the country are unemployed. The total number of unemployed people in Maldives is 22,213. Each year, Maldives exports around $0.28 billion and imports roughly $1.41 billion. The Gini Index of the country is 37.4. Maldives has a Human Development Index (HDI) of 0.698.Maldives has a government debt of 60.8% of the country's Gross Domestic Product (GDP), as assessed in 2012. Maldives 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 tourism, fish processing, shipping, boat building, coconut processing, woven mats, rope, handicrafts, coral and sand mining.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Maldives is $4,554 billion. Each year, consumers spend around $315 million. The ratio of consumer spending to GDP in Maldives is 0%, and the ratio of consumer spending to the world consumer market is 0.0009. The corporate tax in Maldives is set at 8%. VAT in Maldives is 6%, and it is known as GST. In 2013, Maldives received 58 million USD in foreign aid.In 2014, the foreign aid amounted to 44.7 USD.To read more click on economy of Maldives.
Infrastructure of Maldives
Infrastructure quality in Maldives is rated to be at 2.56. 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 Maldives, 100% of the population has access to electricity. There are 3,296 internet hosts in Maldives. Maldives has 9 airports nationwide.
The logistics performance index of Maldives is 2.75. 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 2.7. 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 Maldives is 275. To read more click on infrastructure of Maldives.
Politics of Maldives
Maldives, is a unitary presidential constitutional republic. With regard to political and civil freedoms, Maldives is 2. Citizens in Maldives experience partial freedom. While the majority of citizens are able to exercise their free will to a certain extent in Maldives, some political engagement may be limited and certain population groups may be excluded from certain freedoms or expressions. The head of the government is Abdulla Yameen.
According to the World Bank Group, the government effectiveness index of Maldives is -0.37. This indicates that the government of Maldives 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 Maldives before considering any business maneuvers.In Maldives, the legislative power is vested in a Assembly. The strength of legal rights index for Maldives is 2. Overall, it is considered to be rather weak - bankruptcy and collateral laws are unable to protect the rights of borrowers and lenders in case of credit-related complications; credit information, if any at all, is scarce and hardly accessible. In 2013, Maldives received 58 million USD in foreign aid. In 2014, the foreign aid amounted to 44.7 USD. Maldives is a member of the United Nations (UN). On 21 September 1965, it joined the UN as a full member state. Maldives is a member of the World Bank. To read more click on politics of Maldives.
Environment of Maldives
Maldives emits 3.3 metric tons per capita of CO2. 10 km² of Maldives'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 Maldives is 275. To read more click on environment of Maldives.
Company formation in Maldives
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 Maldives.
When establishing a company in Maldives, 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 Maldives that will affect the establishment and growth of one's business. Contact us or click on company formation in Maldives to read additional information when setting up a business.
Bank account opening in Maldives
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Maldives. 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 Maldives, 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 Maldives or contact us.