Palau Geography, Economy, and Culture
Palau is an island nation located in the western Pacific ocean. After being part of a United Nations trust territory administered by the US for 47 years, Palau became independent in 1994. It currently relies on financial aid from the US, providing them the right to maintain military bases there in return.
Palau is made up of 200 volcanic and coral islands, many of them surrounded by a single barrier reef. Its terrain ranges from white sandy beaches with an abundance of marine life to dense jungle. It has a tropical climate with heavy rainfall throughout the year. It considers itself the world’s first shark sanctuary, having banned commercial shark fishing within its waters. The extremely dangerous saltwater crocodile is indigenous to Palau.
The population of Palau is approximately 18,000, the vast majority of whom are native Palauans of mixed Melanesian and Austronesian descent. Palauan society follows a very strict matrilineal system, the legacy of which is seen in nearly every aspect of their traditions, including in funerals, marriages, and the passing of traditional titles and inheritance.
|March 15||Youth Day|
|May 5||Senior Citizens Day|
|June 1||President’s Day|
|July 9||Constitution Day|
|September 6||Labor Day|
|October 1||Independence Day|
|October 24||United Nations Day|
|October 25||Day off for United Nations Day|
|November 26||Family Day|
|December 24||Day off for Christmas Day|
|December 25||Christmas Day|
|December 31||Day off for New Year’s Day|
- Limited Liability
- Corporate Tax: N/A
- Income Tax (Lowest Marginal Rate): N/A
- Income Tax (Highest Marginal Rate): N/A
- VAT/GST/Sales Tax: N/A
- Asia Pacific Commercial Bank Inc.
- Bank of Guam
- Bank of Hawaii
- Bank Pacific
- Palau Investment Bank, Ltd.
Aadmi can support you with your expansion to Palau. Our team of experts in country manage every aspect of your expansion from incorporation, accounting, legal, and even administrative concerns. Matched with Global People Strategist’s powerful labor compliance software, your company is in good hands.
Contact us today for more information about how your company can benefit from using Aadmi as your global expansion partner.