The ISO code of Saint Lucia is LC according to the ISO 3166 standard. The local name of the country is the same as its English name. Saint Lucia capital city is Castries. People in Saint Lucia speak the English language. On 22 February 1979, Saint Lucia emerged as a sovereign political entity. In the year 02/22/1979, Saint Lucia emerged as a sovereign political entity. The largest city in Saint Lucia is Castries.
Saint Lucia is located in the UTC -04:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Saint Lucia is .lc. The International dialing code for Saint Lucia is 1758. People in Saint Lucia drive on the left side of the road. Total land area of Saint Lucia is 616 km² (approx. 238 mi²). Saint Lucia is not a landlocked country. It means that is is bordered by at least one major body of water.
Saint Lucia is located in North America. Saint Lucia 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 Saint Lucia faces various issues, including deforestation, soil erosion, particularly in the northern region.
Doing business in Saint Lucia
We offer various corporate services in Saint Lucia jurisdiction. These services can serve both, people coming from Saint Lucia and foreigners. If you plan on doing business in Saint Lucia you might be interested in contacting us.
To find out about starting your business in Saint Lucia click on company formation in Saint Lucia.
To find out how to open a bank account in Saint Lucia and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Saint Lucia.
Choose preferred service below or continue reading to find out more about Saint Lucia.
Demographics of Saint Lucia
The total population of Saint Lucia is 179,667 people. In Saint Lucia, the population density is 270 people per square kilometer (702 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 Saint Lucia is 0.1769. Saint Lucia has approximately 12180 foreign immigrants. The median age is approximately 32.9 years. In Saint Lucia, 48.63 in every 100 people use internet. Saint Lucia has a Human Development Index (HDI) of 0.714.
The majority religion of Saint Lucia is Christianity, Saint Lucia 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 Saint Lucia.
Culture of Saint Lucia
People in Saint Lucia speak the English language. According to data on inbound tourists in Saint Lucia, 319,000 tourists arrive in the country each year. One of the most popular national dishes of Saint Lucia is green banana. To read more click on culture of Saint Lucia.
Geography of Saint Lucia
Saint Lucia is considered to be a large nation because of its total area. Its total land area is 616 km² (approx. 238 mi²). Saint Lucia is located in North America. Its capital city is Castries. Saint Lucia has no land borders.
The highest point of Saint Lucia is Mount Gimie, with its official height being 950 m (3,117 ft). Including land mass and EEZ, the total area of Saint Lucia is approximately 16,233 km² (~6,268 mi²). The most notable natural resources found in Saint Lucia are forests, sandy beaches, minerals (pumice), mineral springs, geothermal energy.To read more click on geography of Saint Lucia.
Economy of Saint Lucia
The currency of the country is eastern caribbean dollar. The symbol used for this currency is $, and it is abbreviated as XCD. 21% of population in the country are unemployed. The total number of unemployed people in Saint Lucia is 37,730. Each year, Saint Lucia exports around $0.21 billion and imports roughly $0.59 billion. The Gini Index of the country is 42.6. Saint Lucia has a Human Development Index (HDI) of 0.714.Saint Lucia has a government debt of 77% of the country's Gross Domestic Product (GDP), as assessed in 2012. Saint Lucia 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, clothing, assembly of electronic components, beverages, corrugated cardboard boxes, lime processing, coconut processing.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Saint Lucia is $1,978 billion. Each year, consumers spend around $665 million. The ratio of consumer spending to GDP in Saint Lucia is 0%, and the ratio of consumer spending to the world consumer market is 0.0021. The corporate tax in Saint Lucia is set at 30%. Personal income tax ranges from 10% to 30%, depending on your specific situation and income level. VAT in Saint Lucia is 15%. In 2013, Saint Lucia received 26.8 million USD in foreign aid.In 2014, the foreign aid amounted to 35.3 USD.To read more click on economy of Saint Lucia.
Infrastructure of Saint Lucia
In Saint Lucia, 90.9% of the population has access to electricity. There are 100 internet hosts in Saint Lucia. Saint Lucia has 2 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Saint Lucia is 204. To read more click on infrastructure of Saint Lucia.
Politics of Saint Lucia
Saint Lucia, is a parliamentary democracy under constitutional monarchy. With regard to political and civil freedoms, Saint Lucia is 1. Citizens in Saint Lucia 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 Elizabeth II.
According to the World Bank Group, the government effectiveness index of Saint Lucia is -0.02. This indicates that the government of Saint Lucia 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 Saint Lucia before considering any business maneuvers.In Saint Lucia, the legislative power is vested in a Parliament. The strength of legal rights index for Saint Lucia is 5. Overall, it is considered to be rather inadequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to some degree; credit information may be sufficient, but hardly available, or, the oppoiste case, available but not sufficient. In 2013, Saint Lucia received 26.8 million USD in foreign aid. In 2014, the foreign aid amounted to 35.3 USD. Saint Lucia is a member of the United Nations (UN). On 18 September 1979, it joined the UN as a full member state. Saint Lucia is a member of the World Bank. To read more click on politics of Saint Lucia.
Environment of Saint Lucia
Saint Lucia emits 2.3 metric tons per capita of CO2. 170 km² of Saint Lucia's territory is covered in forests. and forest land comprises 28% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Saint Lucia is 204. To read more click on environment of Saint Lucia.
Company formation in Saint Lucia
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 Saint Lucia.
When establishing a company in Saint Lucia, 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 Saint Lucia that will affect the establishment and growth of one's business. Contact us or click on company formation in Saint Lucia to read additional information when setting up a business.
Bank account opening in Saint Lucia
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Saint Lucia. 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 Saint Lucia, 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 Saint Lucia or contact us.