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Get to Know About Falkland Islands
The Falkland Islands is an archipelago in the South Atlantic Ocean, which is east of Argentina and north of Antarctica. It covers a land area of 12,200 square kilometers with a small population of 3,398 people (2016 census). English is widely spoken as it is a British overseas territory after all. Most Falkland Islanders are Christians and their official currency is Falkland pound. The country has subantarctic oceanic and tundra climate zones (meaning the climate of the islands is cold, windy and humid maritime).
In 2015 (estimate), the Gross Domestic Product (GDP) in the Falkland Islands is worth 193.28 million US dollars while its GDP per capita is around $70,800. The Corporate Tax Rate averages at 26 percent which is not bad to the companies there.
Doing business in Falkland Islands is similar to other European countries but the type of activities are limited. British Nationals do not need a visa to enter the country but need a work permit to take paid employment. All nationals are issued with a visitor’s permit upon entry, which is good for four weeks. Cruise ship visitors do not require a visa but they will need one if they arrive by air. To put up a business and operate legally in the country, business owners should acquire residence permit, business permit, and other required licenses respectively.
The challenges in the Falkland Islands include geographically isolated, weather conditions (esp. If you’re not used to cold climate), not fully industrialized market (perhaps it’s because of geographical location and condition), limited reach (including roads and connectivity), and insufficient workforce.