The Republic of the Philippines is a Southeast Asian country, located on the Pacific Ocean and member of the ASEAN. It is formed by an archipelago made up of 7,107 islands, divided in three islands groups: Luzon, Visayas Islands and Mindanao. To the north is separated from the island of Taiwan by the Strait of Luzon, to the west from the South China Sea and Vietnam, to the south, the island of Borneo, to the south the sea of Celebes separates it from other islands of Indonesia and to the east limits with the Philippine sea. Its location in the Pacific’s fire belt and its tropical climate make it a a place prone to earthquakes and typhoons.
It has a population of over 102 million inhabitants, being the 12th most populated worldwide. In addition of 11 million Filipinos that live abroad. Its capital is Manila, located in the island of Luzon. Metro Manila is the most populated metropolitan area in the Philippines and the tenth in the world, with a population estimated at 20.5 million, which includes Quezon, its most populated city. Its official languages are English and Filipino besides 8 regional languages. Its official currency is the Philippine Peso (PHP).
The economy of the Philippines is the 35th most powerful economy in the world, with nominal GDP estimated at US $ 348 billion by 2017. The main exports are semiconductors and electronic products, transport equipment, clothing, copper products, oil, coconut oil and fruits. Its major industries are the automotive, shipbuilding, aerospace products, mining and business process outsourcing. Tourism is one of its fastest growing sectors, currently accounting for more than 10% of its GDP, with 5.3 million visitors in 2016.
At Flag Theory, we find strategic global locations to increase privacy, freedom and wealth. Below you can learn on why and how to get residency and citizenship in the Philippines, why and how to do business and set up a company, investment opportunities and banking options in this Southeast Asian country.
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