Confidus Solutions logotype

Confidus Solutions

Micronesia, Federal States of

The ISO code of Micronesia, Federal States of is FM according to the ISO 3166 standard. The local name of the country is the same as its English name. Micronesia, Federal States of capital city is Palikir. People in Micronesia, Federal States of speak the English language. On 3 November 1986, Micronesia, Federal States of emerged as a sovereign political entity. In the year 11/03/1986, Micronesia, Federal States of emerged as a sovereign political entity. The largest cities in Micronesia, Federal States of are Palikir, Weno.

Micronesia, Federal States of has different time zones. They are UTC +10:00 (YAPT - Yap Time), UTC +11:00 (CHUT - Chuuk Time).The internet country code top-level domain (ccTLD) for Micronesia, Federal States of is .fm. The International dialing code for Micronesia, Federal States of is 691. People in Micronesia, Federal States of drive on the right side of the road. Total land area of Micronesia, Federal States of is 702 km² (approx. 271 mi²). Micronesia, Federal States of is not a landlocked country. It means that is is bordered by at least one major body of water.

A view in Micronesia, Federal States of

Micronesia, Federal States of is located in Oceania. Micronesia, Federal States of 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 Micronesia, Federal States of faces various issues, including climate change, pollution.

Doing business in Micronesia, Federal States of

We offer various corporate services in Micronesia, Federal States of jurisdiction. These services can serve both, people coming from Micronesia, Federal States of and foreigners. If you plan on doing business in Micronesia, Federal States of you might be interested in contacting us.

To find out about starting your business in Micronesia, Federal States of click on company formation in Micronesia, Federal States of.

To find out how to open a bank account in Micronesia, Federal States of and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Micronesia, Federal States of.

Choose preferred service below or continue reading to find out more about Micronesia, Federal States of.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Micronesia, Federal States of

The total population of Micronesia, Federal States of is 106,227 people. In Micronesia, Federal States of, the population density is 145 people per square kilometer (377 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is rather diverse according to a fractionalization scale which for Micronesia, Federal States of is 0.7005. Micronesia, Federal States of has approximately 2756 foreign immigrants. The median age is approximately 23.8 years. In Micronesia, Federal States of, 25.97 in every 100 people use internet. Micronesia, Federal States of has a Human Development Index (HDI) of 0.63.

The majority religion of Micronesia, Federal States of is Christianity, Micronesia, Federal States of 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 Micronesia, Federal States of.

Culture of Micronesia, Federal States of

People in Micronesia, Federal States of speak the English language. According to data on inbound tourists in Micronesia, Federal States of, 42,000 tourists arrive in the country each year. One of the most popular national dishes of Micronesia, Federal States of is lumpia. To read more click on culture of Micronesia, Federal States of.

Geography of Micronesia, Federal States of

Micronesia, Federal States of is considered to be a large nation because of its total area. Its total land area is 702 km² (approx. 271 mi²). Micronesia, Federal States of is located in Oceania. Its capital city is Palikir. Micronesia, Federal States of has no land borders.

The highest point of Micronesia, Federal States of is Dolohmwar, with its official height being 791 m (2,595 ft). Including land mass and EEZ, the total area of Micronesia, Federal States of is approximately 2,997,121 km² (~1,157,190 mi²). The most notable natural resources found in Micronesia, Federal States of are timber, marine products, deep-seabed minerals, phosphate.To read more click on geography of Micronesia, Federal States of.

Economy of Micronesia, Federal States of

The currency of the country is Micronesian dollar. The symbol used for this currency is $, and it is abbreviated as USD. 22% of population in the country are unemployed. The total number of unemployed people in Micronesia, Federal States of is 23,370. Each year, Micronesia, Federal States of exports around $0.02 billion and imports roughly $0.13 billion. The Gini Index of the country is 61.1. Micronesia, Federal States of has a Human Development Index (HDI) of 0.63.Micronesia, Federal States of 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, construction, specialized aquaculture, craft items (shell and wood).

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Micronesia, Federal States of is $308 billion. Each year, consumers spend around $629 million. The ratio of consumer spending to GDP in Micronesia, Federal States of is 189%, and the ratio of consumer spending to the world consumer market is 0.0017. The corporate tax in Micronesia, Federal States of is set at 3%. Personal income tax ranges from 15% to 35%, depending on your specific situation and income level. VAT in Micronesia, Federal States of is 10%. In 2013, Micronesia, Federal States of received 115 million USD in foreign aid.In 2014, the foreign aid amounted to 134.1 USD.To read more click on economy of Micronesia, Federal States of.

Infrastructure of Micronesia, Federal States of

In Micronesia, Federal States of, 59.3% of the population has access to electricity. There are 4,668 internet hosts in Micronesia, Federal States of. Micronesia, Federal States of has 6 airports nationwide.

The number of road motor vehicles per 1000 inhabitants in Micronesia, Federal States of is 72. To read more click on infrastructure of Micronesia, Federal States of.

Politics of Micronesia, Federal States of

Micronesia, Federal States of, is a congress. With regard to political and civil freedoms, Micronesia, Federal States of is 1. Citizens in Micronesia, Federal States of 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 Peter M. Christian.

According to the World Bank Group, the government effectiveness index of Micronesia, Federal States of is -0.52. This indicates that the government of Micronesia, Federal States of is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Micronesia, Federal States of, the legislative power is vested in a Congress. The strength of legal rights index for Micronesia, Federal States of is 11. 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, Micronesia, Federal States of received 115 million USD in foreign aid. In 2014, the foreign aid amounted to 134.1 USD. Micronesia, Federal States of is a member of the United Nations (UN). On 17 September 1991, it joined the UN as a full member state. Micronesia, Federal States of is a member of the World Bank. To read more click on politics of Micronesia, Federal States of.

Environment of Micronesia, Federal States of

Micronesia, Federal States of emits 1.2 metric tons per capita of CO2. 630 km² of Micronesia, Federal States of's territory is covered in forests. and forest land comprises 90% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Micronesia, Federal States of is 72. To read more click on environment of Micronesia, Federal States of.

Company formation in Micronesia, Federal States of

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 Micronesia, Federal States of.

When establishing a company in Micronesia, Federal States of, 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 Micronesia, Federal States of that will affect the establishment and growth of one's business. Contact us or click on company formation in Micronesia, Federal States of to read additional information when setting up a business.

Bank account opening in Micronesia, Federal States of

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Micronesia, Federal States of. 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 Micronesia, Federal States of, 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 Micronesia, Federal States of or contact us.