The ISO code of Tuvalu is TV according to the ISO 3166 standard. The local name of the country is the same as its English name. Tuvalu capital city is Funafuti. People in Tuvalu speak the English, and Tuvaluan languages. On 1 October 1978, Tuvalu emerged as a sovereign political entity. In the year 10/01/1978, Tuvalu emerged as a sovereign political entity. The largest city in Tuvalu is Funafuti.
Tuvalu is located in the UTC +12:00 time zone, which is also called Tuvalu Time or TVT. The internet country code top-level domain (ccTLD) for Tuvalu is .tv. The International dialing code for Tuvalu is 688. People in Tuvalu drive on the left side of the road. Total land area of Tuvalu is 26 km² (approx. 10 mi²). Tuvalu is not a landlocked country. It means that is is bordered by at least one major body of water.
Tuvalu is located in Oceania. Tuvalu 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 Tuvalu faces various issues, including limited potable water supplies, beachhead erosion because of the use of sand for building materials, excessive clearance of forest undergrowth for use as fuel, damage to coral reefs from the spread of the Crown of Thorns starfish, Tuvalu is concerned about global increases in greenhouse gas emissions and their effect on rising sea levels, which threaten the country's underground water table, in 2000, the government appealed to Australia and New Zealand to take in Tuvaluans if rising sea levels should make evacuation necessary.
Doing business in Tuvalu
We offer various corporate services in Tuvalu jurisdiction. These services can serve both, people coming from Tuvalu and foreigners. If you plan on doing business in Tuvalu you might be interested in contacting us.
To find out about starting your business in Tuvalu click on company formation in Tuvalu.
To find out how to open a bank account in Tuvalu and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Tuvalu.
Choose preferred service below or continue reading to find out more about Tuvalu.
Demographics of Tuvalu
The total population of Tuvalu is 11,287 people. In Tuvalu, the population density is 436 people per square kilometer (1,134 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 Tuvalu is 0.1629. Tuvalu has approximately 141 foreign immigrants. The median age is approximately 24.9 years. In Tuvalu, 35 in every 100 people use internet.
The majority religion of Tuvalu is Christianity, Tuvalu 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 Tuvalu.
Culture of Tuvalu
People in Tuvalu speak the English, and Tuvaluan languages. One of the most popular national dishes of Tuvalu is taro. To read more click on culture of Tuvalu.
Geography of Tuvalu
Tuvalu is considered to be a large nation because of its total area. Its total land area is 26 km² (approx. 10 mi²). Tuvalu is located in Oceania. Its capital city is Funafuti. Tuvalu has no land borders.
The highest point of Tuvalu is an unnamed location, with its official height being 5 m (16 ft). Including land mass and EEZ, the total area of Tuvalu is approximately 749,816 km² (~289,504 mi²). The most notable natural resources found in Tuvalu are fish, coconut (copra).To read more click on geography of Tuvalu.
Economy of Tuvalu
The currency of the country is Tuvaluan dollar. The symbol used for this currency is $, and it is abbreviated as TVD. 39.6% of population in the country are unemployed. The total number of unemployed people in Tuvalu is 4,470. Each year, Tuvalu exports around $0 billion and imports roughly $0.02 billion. The Gini Index of the country is 34. Tuvalu has a government debt of 41% of the country's Gross Domestic Product (GDP), as assessed in 2014. Tuvalu 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 fishing.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Tuvalu is $35 billion. Each year, consumers spend around $29 million. The ratio of consumer spending to GDP in Tuvalu is 8%, and the ratio of consumer spending to the world consumer market is 0.0001. The corporate tax in Tuvalu is set at 30%. Personal income tax ranges from 0% to 30%, depending on your specific situation and income level. In 2013, Tuvalu received 24.4 million USD in foreign aid.In 2014, the foreign aid amounted to 38.8 USD.To read more click on economy of Tuvalu.
Infrastructure of Tuvalu
In Tuvalu, 44.6% of the population has access to electricity. There are 145,158 internet hosts in Tuvalu. Tuvalu has 1 airports nationwide.
To read more click on infrastructure of Tuvalu.
Politics of Tuvalu
Tuvalu, is a parliamentary democracy under constitutional monarchy & non-partisan democracy. With regard to political and civil freedoms, Tuvalu is 1. Citizens in Tuvalu 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 Tuvalu is -0.93. This indicates that the government of Tuvalu is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Tuvalu, the legislative power is vested in a Parliament. In 2013, Tuvalu received 24.4 million USD in foreign aid. In 2014, the foreign aid amounted to 38.8 USD. Tuvalu is a member of the United Nations (UN). On 5 September 2000, it joined the UN as a full member state. Tuvalu is a member of the World Bank. To read more click on politics of Tuvalu.
Environment of Tuvalu
23 km² of Tuvalu's territory is covered in forests. and forest land comprises 88% of all the land in the country. To read more click on environment of Tuvalu.
Company formation in Tuvalu
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 Tuvalu.
When establishing a company in Tuvalu, 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 Tuvalu that will affect the establishment and growth of one's business. Contact us or click on company formation in Tuvalu to read additional information when setting up a business.
Bank account opening in Tuvalu
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Tuvalu. 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 Tuvalu, 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 Tuvalu or contact us.