Turkmenistan Geography, Politics, Economy, and Culture

Turkmenistan is a former Soviet republic in Central Asia that gained its status as a sovereign state in 1991. It is bordered by countries such as Kazakhstan, Uzbekistan, Afghanistan, and Iran, as well as the Caspian Sea. Most of the country is covered by the Karakum (Black Sand) Desert.

Turkmenistan’s economy is driven by the fact that it has one of the largest reserves of natural gas and substantial oil resources. It produces roughly 70 billion cubic meters of natural gas each year and about two-thirds of its exports go to Russia’s Gazprom. Turkmenistan is also one of the world’s largest cotton-producing countries.

Most of Turkmenistan’s citizens are ethnic Turkmens with large minorities of Uzbeks and Russians. Turkmen is the official language, although Russian still is widely spoken in cities. The vast majority of the population is Muslim.

2021
March 21Nowruz Bayram (Spring Festival)
March 22Nowruz Bayram (Spring Festival)
May 13Oraza Bayram
May 18Constitution Day
July 20Kurban Bayramy
September 27Independence Day
October 6Day of Commemoration and National Mourning
December 12Day of Neutrality
  • Limited Liability
  • Corporation
  • Partnership
  • Corporate Tax: N/A
  • Income Tax (Lowest Marginal Rate): N/A
  • Income Tax (Highest Marginal Rate): N/A
  • VAT/GST/Sales Tax: N/A
  • Central Bank of Turkmenistan
  • Dayhanbank (Agricultural Bank), Asgabat (state bank)
  • HalkBank SCB, Ashgabat (state bank)
  • Garagum IJSB, Asgabat
  • Prezidentbank, Asgabat
  • Rysgal JSCB, Asgabat
  • Senagat JSCB, Asgabat
  • The State Bank for Foreign Economic Affairs of Turkmenistan, Asgabat (state bank)
  • The State Development Bank of Turkmenistan
  • Turkmenbashybank, Asgabat (state bank)
  • Turkmenistanbank, Asgabat (state bank)
  • Turkmen-Turkish Bank JSCB, Asgabat

Aadmi can support you with your expansion to Turkmenistan. 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.

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