The ISO code of Yemen is YE according to the ISO 3166 standard. The local name of the country is Al Yaman. Yemen capital city is Sana'a. People in Yemen speak the Arabic language. On 1 November 1918, Yemen emerged as a sovereign political entity. In the year 11/01/1918, Yemen emerged as a sovereign political entity. The largest city in Yemen is Sana'a.
Yemen is located in the UTC +03:00 time zone, which is also called Atlantic Standard Time or AST. The internet country code top-level domain (ccTLD) for Yemen is .ye. Other domains assigned to Yemen are اليمن.. The International dialing code for Yemen is 260. People in Yemen drive on the right side of the road. Total land area of Yemen is 527,968 km² (approx. 203,849 mi²). Yemen is not a landlocked country. It means that is is bordered by at least one major body of water.
Yemen is located in Asia. Yemen 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 Yemen faces various issues, including limited natural fresh water resources, inadequate supplies of potable water, overgrazing, soil erosion, desertification.
Doing business in Yemen
We offer various corporate services in Yemen jurisdiction. These services can serve both, people coming from Yemen and foreigners. If you plan on doing business in Yemen you might be interested in contacting us.
To find out about starting your business in Yemen click on company formation in Yemen.
To find out how to open a bank account in Yemen and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Yemen.
Choose preferred service below or continue reading to find out more about Yemen.
Demographics of Yemen
The total population of Yemen is 28,915,284 people. In Yemen, the population density is 54 people per square kilometer (140 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 Yemen is 0. Yemen has approximately 273000 foreign immigrants. The median age is approximately 18.6 years. In Yemen, 17.45 in every 100 people use internet. Yemen has a Human Development Index (HDI) of 0.5.
The majority religion of Yemen is Islam, Yemen 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 Yemen.
Culture of Yemen
People in Yemen speak the Arabic language. According to data on inbound tourists in Yemen, 990,000 tourists arrive in the country each year. One of the most popular national dishes of Yemen is saltah. To read more click on culture of Yemen.
Geography of Yemen
Yemen is considered to be a large nation because of its total area. Its total land area is 527,968 km² (approx. 203,849 mi²). Yemen is located in Asia. Its capital city is Sana'a. Yemen has 2 neighbouring countries. Its neighbours include Oman, and Saudi Arabia. Total length of land borders of Yemen is 1601 kilometers (~618 miles).
The highest point of Yemen is Jabal an Nabi Shu'ayb, with its official height being 3666 m (12,028 ft). Including land mass and EEZ, the total area of Yemen is approximately 1,080,637 km² (~417,234 mi²). The most notable natural resources found in Yemen are petroleum, fish, rock salt, marble, small deposits of coal, gold, lead, nickel, and copper, fertile soil in west.To read more click on geography of Yemen.
Economy of Yemen
The currency of the country is Yemeni rial. The symbol used for this currency is ﷼, and it is abbreviated as YER. 13.8% of population in the country are unemployed. The total number of unemployed people in Yemen is 3,990,309. Each year, Yemen exports around $6.69 billion and imports roughly $10.97 billion. The Gini Index of the country is 37.7. Yemen has a Human Development Index (HDI) of 0.5.The Global Peace Index (GPI) for Yemen is 2.751. Yemen has a government debt of 42.5% of the country's Gross Domestic Product (GDP), as assessed in 2012. Yemen 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 crude oil production and petroleum refining, small-scale production of cotton textiles, leather goods, food processing, handicrafts, aluminum products, cement, commercial ship repair, natural gas production.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Yemen is $104,008 billion. Each year, consumers spend around $20,023 million. The ratio of consumer spending to GDP in Yemen is 0%, and the ratio of consumer spending to the world consumer market is 0.0577. The corporate tax in Yemen is set at 20%. Personal income tax ranges from 10% to 15%, depending on your specific situation and income level. VAT in Yemen is 2%, and it is known as General Sales Tax. In 2013, Yemen received 709.3 million USD in foreign aid.In 2014, the foreign aid amounted to 476.1 USD.To read more click on economy of Yemen.
Infrastructure of Yemen
Infrastructure quality in Yemen is rated to be at 1.87. It indicates a mediocre quality - roads, railroad, ports and other facilities are able to handle somewhat significant traffic, but not enough to ensure smooth transit at all times.
In Yemen, 48.4% of the population has access to electricity. There are 33,206 internet hosts in Yemen. Yemen has 57 airports nationwide.
The logistics performance index of Yemen is 2.18. It indicates a mediocre performance - shipping procedures are relatively unreliable, timeliness and safety of transferred goods are often a problem, although such a system may function relatively well if traffic is no too dense.
Tracking possibilities for shipments are rated at 2.21. It indicates a mediocre performance - the tracking systems provide some degree of information which usually includes the most necessary topics, such as the current location of a shipment, the dates of arrival and departure and the status of a shipment; still, more detailed information about the status and multi-language accessibility options are usually lacking.
The number of road motor vehicles per 1000 inhabitants in Yemen is 21. To read more click on infrastructure of Yemen.
Politics of Yemen
Yemen, is a disputed due to civil war. With regard to political and civil freedoms, Yemen is 3. Citizens in Yemen experience little to no civil liberties and political rights. Citizens are not free to express themselves and do not enjoy political freedom or a representative government. Countries with this political situation are dangerous for investment, as an authoritarian government may have outsize control over economic matters. The head of the government is Abdrabbuh Mansur Hadi.
According to the World Bank Group, the government effectiveness index of Yemen is -1.41. This indicates that the government of Yemen is ineffective. Public and civil services are severely handicapped, leading to potential for social and political upheaval.In Yemen, the legislative power is vested in a Assembly of Representatives. The Global Peace Index (GPI) for Yemen is 2.751. In 2013, Yemen received 709.3 million USD in foreign aid. In 2014, the foreign aid amounted to 476.1 USD. Yemen is a member of the United Nations (UN). On 30 September 1947, it joined the UN as a full member state. Yemen is a member of the World Bank. To read more click on politics of Yemen.
Environment of Yemen
Yemen emits 0.9 metric tons per capita of CO2. 4490 km² of Yemen's territory is covered in forests. and forest land comprises 1% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Yemen is 21. To read more click on environment of Yemen.
Company formation in Yemen
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 Yemen.
When establishing a company in Yemen, 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 Yemen that will affect the establishment and growth of one's business. Contact us or click on company formation in Yemen to read additional information when setting up a business.
Bank account opening in Yemen
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Yemen. 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 Yemen, 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 Yemen or contact us.