Vanuatu
The ISO code of Vanuatu is VU according to the ISO 3166 standard. The local name of the country is the same as its English name. Vanuatu capital city is Port Vila. People in Vanuatu speak the English, French, and Bislama languages. On 30 July 1980, Vanuatu emerged as a sovereign political entity. In the year 07/30/1980, Vanuatu emerged as a sovereign political entity. The largest city in Vanuatu is Port Vila.
Vanuatu is located in the UTC +11:00 time zone, which is also called Vanuatu Time or VUT. The internet country code top-level domain (ccTLD) for Vanuatu is .vu. The International dialing code for Vanuatu is 678. People in Vanuatu drive on the right side of the road. Total land area of Vanuatu is 12,189 km² (approx. 4,706 mi²). Vanuatu is not a landlocked country. It means that is is bordered by at least one major body of water.
Vanuatu is located in Oceania. Vanuatu 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 Vanuatu faces various issues, including poor supply of potable water, deforestation.
Doing business in Vanuatu
We offer various corporate services in Vanuatu jurisdiction. These services can serve both, people coming from Vanuatu and foreigners. If you plan on doing business in Vanuatu you might be interested in contacting us.
To find out about starting your business in Vanuatu click on company formation in Vanuatu.
To find out how to open a bank account in Vanuatu and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Vanuatu.
Choose preferred service below or continue reading to find out more about Vanuatu.
Demographics of Vanuatu
The total population of Vanuatu is 282,117 people. In Vanuatu, the population density is 21.7 people per square kilometer (56 per square mile). Because of this statistic, this country is considered to be sparsely populated. The ethnic diversity is almost uniform according to a fractionalization scale which for Vanuatu is 0.0413. Vanuatu has approximately 2300 foreign immigrants. The median age is approximately 21.1 years. In Vanuatu, 10.6 in every 100 people use internet. Vanuatu has a Human Development Index (HDI) of 0.616.
The majority religion of Vanuatu is Christianity, Vanuatu 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 Vanuatu.
Culture of Vanuatu
People in Vanuatu speak the English, French, and Bislama languages. According to data on inbound tourists in Vanuatu, 110,000 tourists arrive in the country each year. One of the most popular national dishes of Vanuatu is lap lap. To read more click on culture of Vanuatu.
Geography of Vanuatu
Vanuatu is considered to be a large nation because of its total area. Its total land area is 12,189 km² (approx. 4,706 mi²). Vanuatu is located in Oceania. Its capital city is Port Vila. Vanuatu has no land borders.
The highest point of Vanuatu is Mount Tabwemasana, with its official height being 1877 m (6,158 ft). Including land mass and EEZ, the total area of Vanuatu is approximately 675,440 km² (~260,788 mi²). The most notable natural resources found in Vanuatu are manganese, hardwood forests, fish.To read more click on geography of Vanuatu.
Economy of Vanuatu
The currency of the country is Vanuatu vatu. The symbol used for this currency is Vt, and it is abbreviated as VUV. 4.6% of population in the country are unemployed. The total number of unemployed people in Vanuatu is 12,977. Each year, Vanuatu exports around $0.04 billion and imports roughly $0.32 billion. The Gini Index of the country is 37.18. Vanuatu has a Human Development Index (HDI) of 0.616.Vanuatu has a government debt of 14.% of the country's Gross Domestic Product (GDP), as assessed in 2013. Vanuatu 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 food and fish freezing, wood processing, meat canning.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Vanuatu is $683 billion. Each year, consumers spend around $397 million. The ratio of consumer spending to GDP in Vanuatu is 50%, and the ratio of consumer spending to the world consumer market is 0.0011. The corporate tax in Vanuatu is set at 0%. Personal income tax ranges from 0% to 0%, depending on your specific situation and income level. VAT in Vanuatu is 12%. In 2013, Vanuatu received 101.4 million USD in foreign aid.In 2014, the foreign aid amounted to 92.1 USD.To read more click on economy of Vanuatu.
Infrastructure of Vanuatu
In Vanuatu, 27.1% of the population has access to electricity. There are 5,655 internet hosts in Vanuatu. Vanuatu has 31 airports nationwide.
The number of road motor vehicles per 1000 inhabitants in Vanuatu is 147. To read more click on infrastructure of Vanuatu.
Politics of Vanuatu
Vanuatu, is a unitary parliamentary republic. With regard to political and civil freedoms, Vanuatu is 1. Citizens in Vanuatu 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 Tallis Obed Moses.
According to the World Bank Group, the government effectiveness index of Vanuatu is -0.55. This indicates that the government of Vanuatu is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Vanuatu, the legislative power is vested in a Parliament. The strength of legal rights index for Vanuatu 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, Vanuatu received 101.4 million USD in foreign aid. In 2014, the foreign aid amounted to 92.1 USD. Vanuatu is a member of the United Nations (UN). On 15 September 1981, it joined the UN as a full member state. Vanuatu is a member of the World Bank. To read more click on politics of Vanuatu.
Environment of Vanuatu
Vanuatu emits 0.6 metric tons per capita of CO2. 4470 km² of Vanuatu's territory is covered in forests. and forest land comprises 37% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Vanuatu is 147. To read more click on environment of Vanuatu.
Company formation in Vanuatu
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 Vanuatu.
When establishing a company in Vanuatu, 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 Vanuatu that will affect the establishment and growth of one's business. Contact us or click on company formation in Vanuatu to read additional information when setting up a business.
Bank account opening in Vanuatu
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Vanuatu. 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 Vanuatu, 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 Vanuatu or contact us.