Tonga
The ISO code of Tonga is TO according to the ISO 3166 standard. The local name of the country is the same as its English name. Tonga capital city is Nukuʻalofa. People in Tonga speak the Tongan, and English languages. In the year 1845, Tonga emerged as a sovereign political entity. The largest city in Tonga is Nukuʻalofa.
Tonga is located in the UTC +13:00 time zone, which is also called Tonga Time or TOT. The internet country code top-level domain (ccTLD) for Tonga is .to. The International dialing code for Tonga is 676. People in Tonga drive on the left side of the road. Total land area of Tonga is 747 km² (approx. 288 mi²). Tonga is not a landlocked country. It means that is is bordered by at least one major body of water.
Tonga is located in Oceania. Tonga 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 Tonga faces various issues, including deforestation results as more and more land is being cleared for agriculture and settlement, some damage to coral reefs from starfish and indiscriminate coral and shell collectors, overhunting threatens native sea turtle populations.
Doing business in Tonga
We offer various corporate services in Tonga jurisdiction. These services can serve both, people coming from Tonga and foreigners. If you plan on doing business in Tonga you might be interested in contacting us.
To find out about starting your business in Tonga click on company formation in Tonga.
To find out how to open a bank account in Tonga and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Tonga.
Choose preferred service below or continue reading to find out more about Tonga.
Demographics of Tonga
The total population of Tonga is 109,008 people. In Tonga, 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 almost uniform according to a fractionalization scale which for Tonga is 0.0869. Tonga has approximately 5731 foreign immigrants. The median age is approximately 22 years. In Tonga, 34.86 in every 100 people use internet. Tonga has a Human Development Index (HDI) of 0.705.
The majority religion of Tonga is Christianity, Tonga 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 Tonga.
Culture of Tonga
People in Tonga speak the Tongan, and English languages. According to data on inbound tourists in Tonga, 45,000 tourists arrive in the country each year. One of the most popular national dishes of Tonga is lu. To read more click on culture of Tonga.
Geography of Tonga
Tonga is considered to be a large nation because of its total area. Its total land area is 747 km² (approx. 288 mi²). Tonga is located in Oceania. Its capital city is Nukuʻalofa. Tonga has no land borders.
The highest point of Tonga is an unnamed location, with its official height being 1033 m (3,389 ft). Including land mass and EEZ, the total area of Tonga is approximately 660,305 km² (~254,944 mi²). The most notable natural resources found in Tonga are fish, arable land.To read more click on geography of Tonga.
Economy of Tonga
The currency of the country is Tongan pa'anga. The symbol used for this currency is T$, and it is abbreviated as TOP. 1.2% of population in the country are unemployed. The total number of unemployed people in Tonga is 1,308. Each year, Tonga exports around $0.01 billion and imports roughly $0.12 billion. The Gini Index of the country is 38.1. Tonga has a Human Development Index (HDI) of 0.705.Tonga has a government debt of 48.4% of the country's Gross Domestic Product (GDP), as assessed in 2014. Tonga 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, fishing.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tonga is $502 billion. Each year, consumers spend around $338 million. The ratio of consumer spending to GDP in Tonga is 77%, and the ratio of consumer spending to the world consumer market is 0.001. The corporate tax in Tonga is set at 25%. Personal income tax ranges from 0% to 20%, depending on your specific situation and income level. VAT in Tonga is 15%, and it is known as Sales Tax. In 2013, Tonga received 78.2 million USD in foreign aid.In 2014, the foreign aid amounted to 93.7 USD.To read more click on economy of Tonga.
Infrastructure of Tonga
In Tonga, 95.9% of the population has access to electricity. There are 5,367 internet hosts in Tonga. Tonga has 6 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Tonga is 353. To read more click on infrastructure of Tonga.
Politics of Tonga
Tonga, is a unitary parliamentary constitutional monarchy. With regard to political and civil freedoms, Tonga is 1. Citizens in Tonga 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 Tupou VI.
According to the World Bank Group, the government effectiveness index of Tonga is -0.08. This indicates that the government of Tonga 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 Tonga before considering any business maneuvers.In Tonga, the legislative power is vested in a Legislative Assembly. The strength of legal rights index for Tonga is 10. 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, Tonga received 78.2 million USD in foreign aid. In 2014, the foreign aid amounted to 93.7 USD. Tonga is a member of the United Nations (UN). On 14 September 1999, it joined the UN as a full member state. Tonga is a member of the World Bank. To read more click on politics of Tonga.
Environment of Tonga
Tonga emits 1 metric tons per capita of CO2. 40 km² of Tonga's territory is covered in forests. and forest land comprises 5% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Tonga is 353. To read more click on environment of Tonga.
Company formation in Tonga
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 Tonga.
When establishing a company in Tonga, 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 Tonga that will affect the establishment and growth of one's business. Contact us or click on company formation in Tonga to read additional information when setting up a business.
Bank account opening in Tonga
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Tonga. 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 Tonga, 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 Tonga or contact us.