Tentmaker Reports

Micronesia, Fed. Sts. Report

Entrepreneurial Missions Index

26.6

General Information

Population

111,064 (169th most populous country in the world)

RELIGIONS
Roman Catholic50%
Protestant47%
Other3%
LANGUAGES
English
Chuukese
Kosrean
Pohnpeian
Yapese
Ulithian
Woleaian
Nukuoro
Kapingamaragni

Industries

Toursim, construction, fish processing, specialized aquaculture, craft items

Unless otherwise noted, all information included here was obtained from the World Factbook project 4, conducted by the Central Intelligence Agency (CIA). For more detailed information about Micronesia, Fed. Sts., visit https://www.cia.gov/library/publications/the-world-factbook/geos/fm.html.

Business Information

The World Bank ranks Micronesia, Fed. Sts. as 137 out of 183 economies in terms of ease of doing business. The country ranks as 0 (of 183) in terms of ease of starting a business.

It requires 0 procedures, takes 0 days, and costs N/A% of income per capita to start a business in Micronesia, Fed. Sts..

In order to start a business in Micronesia, Fed. Sts., one must follow these procedures:

  1. Check the uniqueness of the proposed company name and reserve a name
  2. Notarize the company documents
  3. File the incorporation documents with the Registrar of Companies
  4. Obtain the payment receipt (four duplicates) and pay the registration fee and license fee at the Finance Office of the state government
  5. Obtain the certificate of corporation
  6. Register for social security
  7. Apply for a business license from the municipality

Unless otherwise noted, all information included here was obtained from the Doing Business project 3, conducted by the World Bank. For more detailed information about starting a business in Micronesia, Fed. Sts., visit http://www.doingbusiness.org/.

 

To learn more...

 

Micronesia, Fed. Sts. Economic Freedom

The World Economic Forum (WEF) was founded in 1971 by Klaus Martin Schwab at the University of Geneva in Switzerland.  It is a non-profit foundation best known for its annual meeting in Davos, Switzerland, which brings together top business leaders, international political leaders, selected intellectuals and journalists to discuss both economic and social issues facing the world.  The WEF also serves as a think tank, and publishes a wide range of reports focusing on issues of concern and importance to Forum communities. In particular, Strategic Insight Teams focus on producing reports of relevance in the fields of competitiveness, global risks and scenario thinking.  The Global Competitiveness Report measures competitiveness of countries and economic competitiveness among a wide range of factors such as corruption, tax rates, work ethic, and many others.
 

Micronesia, Fed. Sts. Summary

 

1 World Economic Forum

2 Free the World
Gwartney, James and Robert Lawson with Herbert Grubel, Jakob de Haan, Jan-Egbert Sturm, and Eelco Zandberg (2009). Economic Freedom of the World: 2009 Annual Report. Vancouver, BC: The Fraser Institute. Data retrieved from www.freetheworld.com.

3 World Bank Data

4 World Factbook Project

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