Tentmaker Reports

Palau Report

Entrepreneurial Missions Index

29

General Information

Population

20,472 (179th most populous country in the world)

RELIGIONS
Roman Catholic41.6%
Protestant23.3%
Modekngei8.8%
Seventh Day Adventist5.3%
Jehovah's Witness0.9%
Latter-Day Saints0.6%
Other3.1%
Unspecified or None16.4%
LANGUAGES
Palauan64.7%
Tobi
Angaur
Filipino13.5%
English9.4%
Chinese5.7%
Carolinian1.5%
Japanese1.5%
Other Asian2.3%
Other1.5%

Industries

Tourism, craft items, construction, garment making

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 Palau, visit https://www.cia.gov/library/publications/the-world-factbook/geos/pw.html.

Business Information

The World Bank ranks Palau as 116 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 Palau.

In order to start a business in Palau, one must follow these procedures:

  1. Deposit the legally required capital in a bank and obtain deposit evidence
  2. Check the uniqueness of the proposed company name and reserve a name
  3. Notarize the company deeds
  4. Pay the registration fee at the National Treasury
  5. Register the company with the Corporate Registrar at the Office of the Attorney General; obtain a certificate of incorporation
  6. Register employees for social security and obtain an employer identification number (EIN)
  7. Apply for a business license from the relevant licensing authority
  8. Apply for a business license from the state government

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 Palau, visit http://www.doingbusiness.org/.

 

To learn more...

 

Palau 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.
 

Palau 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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