Business For Sale Palau | Business For Sale Listings
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Get to Know About Palau
Palau is an island country situated in the western Pacific Ocean, east of the Philippines. This small island covers a land area of just 459 square kilometers, and it is home to approximately 21,503 people. Its capital is Ngerulmud. Two official languages are being used in the country: English and Palauan. Most Palauans are Christians and use the well-known currency United States dollar (USD) when buying goods and services. The tropical rainforest is perfect for visitors who are fond of beaches and seaside.
Palau’s GDP is around $322 million, and its GDP per capita is $17,438. Its economy is based mainly on tourism (Rock Islands), subsistence agriculture, and fishing. The country depends on other countries, and that is shown clearly on expenses they spend on imports than exports.
Doing business in Palau is a little bit challenging due to its small land size and the fact that it is an island. According to the latest annual ratings of World Bank, the country is ranked 133 among 190 economies in the ease of doing business index. Visa can be obtained on arrival and is valid for 30 days, beyond that it requires a fee. Unless you are a national from visa-exempt countries like the United States and all Schengen Area, you can enter the country freely given that you have a passport, a return ticket, and enough funds to use while in Palau.
Of course, there are still challenges that you might face too. One of them is inadequate water supply due to the country’s condition and location. Another thing is the high number of its population in a small land size. Since it is an island, it is also vulnerable and prone to volcanic activity, earthquakes, and tropical storms. Despite these risks, investing and doing business in the country would be a good option, especially for companies who are into resorts and hotels.