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Every year, over 1 trillion USD is distributed around the world in a form of foreign direct investments. Investments coming from foreign investors and entrepreneurs are of significant value to the country and are considered as a sign of healthy economic, political and legislative environment. When it comes to investing your money, some countries are simply better than others. It depends on numerous factors, such as the overall economy and growth opportunities of the country, political stability, taxation and overall legal system, the complexity of company formation, bank account opening and workforce.
In this article, we will summarize three jurisdictions in terms of benefits and other features crucial for foreign investors. These countries have already proven to be able to attract multinational businesses and other investments, but when it comes to choosing the right place for your investments each country is different and might be better than others in one or more factors.
Singapore The first country to analyse is Singapore as it takes the 2nd place among the best countries to invest in and the 15th place among the best countries in the world in the US News Best Countries Ranking developed in cooperation with its international partners.
Located in Southeast Asia, Singapore is a bustling metropolis and a home to one of the busiest ports in the world. As one of the four economic tigers of Asia, the country has experienced an impressive growth in the recent past due to efficient production and manufacturing practices and innovations in pharmaceutical and electronics industries. High GDP per capita and low unemployment place Singapore among the wealthiest countries in the world.
Due to its impressive growth, along with growing immigration Singapore attracts best professionals for its workforce. The country offers cultural diversity and with four official languages is an important gateway for international trade. Corporate tax rate is 17% but can be reduced if taking advantage of numerous government subsidies, incentives and other schemes. Legal system of Singapore is recognized for its integrity, efficiency and fairness making the country better than many others as a place for starting and operating a business. World Bank group has recognized Singapore’s political and regulatory environment as the most business-friendly in the world. Other factors: Least corrupt country in Asia; Best IP protection in Asia; Most popular country for arbitration in Asia.
United Arab Emirates The United Arab Emirates or UAE is listed as the 22nd best country in the world and is not mentioned among the best countries to invest in according to the ranking mentioned above.
Before discovering oil in the middle of the 20th century, UAE’s economy was mainly based on fishing and pearl industries. The country experienced a rapid growth and overall transformation along with the beginning of oil exports in the 1960s. Nowadays, the country’s GDP can be compared with those of leading European countries and World Economic Forum has named UAE as the most competitive place in the Arab world.
When establishing a business in UAE, foreign investors are able to choose between offshore or onshore registrations depending on which suits better for the business nature and planned activities. Onshore registration means that the investor establishes a business presence in the UAE mainland. Meanwhile, offshore registration typically refers to a business presence in one of the free trade zones of the UAE. The UAE does not impose a corporate income tax on a federal level. However, most of the Emirates have some taxation in place for corporate income and can reach even 55% for certain industries. In practice, corporate income tax is mainly imposed on gas and oil companies as well as branches of foreign banks. Other factors: UAE is among the Gulf’s most liberal places with legal system allowing the freedom of religion; No sales tax or VAT, but with plans to introduce in the future; In addition to traditional banking, recently Islamic (or sharia-law compliant) banking has witnessed a tremendous growth.
Hong Kong Hong Kong is a special administrative region of China. While Hong Kong is often considered as a separate entity from China, it is not a country and therefore enters all lists and rankings under the name of China. China takes 26th place among best countries to invest in and 20th place among best countries in general.
Hong Kong’s legal system is characterised by the strict adherence to principles and the rule of law. It operates a free trade economic system and promotes minimal government interference in most sections of the economy. This reflects on the small number of tariffs and duties on traded goods and therefore it is a better place for investments than other parts of China. Foreign investments are attracted by promoting a favourable investment climate with low taxes, few restrictions and additional incentives to encourage investments. Corporate profits tax rate is 16.5% with a possibility to waive 75% of the tax. There is no tax levied on dividends. Company incorporation is a simple and fast-forward process. All applications for company incorporation also include an application for the business registry. The application can be submitted online and the processing generally takes one hour (as opposed to four days if the application is submitted in hard copy).
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The Republic of Cyprus or simply Cyprus is an island country located in the Eastern Mediterranean and is the third largest and most populous island in the Mediterranean. Cyprus is located North of Egypt, South of Turkey, West of Lebanon and Syria, Northwest of Israel and finally – Southeast of Greece.
As Cyprus is a former British Colony, approximately 80% of the population speak English relatively fluently. Similarly, also the legal system is developed based on the common law practiced in England. Cyprus is a free market economy that provides various opportunities including efficient tax planning for international businesses. With first-class accounting and legal services and excellent geographical location, Cyprus is a great place for doing business. The country is known to be a leader among tax planning jurisdictions, therefore incorporating a company in Cyprus is an ideal way to protect your business. During the last decade, Cyprus’ role in the international tax planning has grown dramatically. As an EU member state, Cyprus has gained a reputation as a legitimate and reliable jurisdiction with over 40 double tax treaties and some of the lowest taxes in the EU.
Benefits of acquiring Cypriot shelf company If you have decided, that Cyprus is the right jurisdiction for your business, you can either incorporate a new company or you can acquire a ready-made company. Ready-made companies are legal entities that have been incorporated some time ago and since then, have been “sitting on the shelf” for investors to buy them and start operating this company. Due to this comparison, ready-made companies are also called shelf companies. There are several benefits of acquiring a shelf company.
The main aim of a shelf company is to provide the investor with a company that has a clean history as often older companies are perceived as more trustworthy, reputable and reliable than newly incorporated businesses. Acquiring a shelf company is also quicker in comparison to the incorporation process of a new company. This turns out to be a major advantage for many entrepreneurs who need to start trading as soon as possible.
Acquisition of a Cyprus shelf company Acquisition of a shelf company in Cyprus is typically a simple and fast process. Companies that specialise in selling shelf companies offer full service. This means that together with the company itself, they can also provide a full set of corporate documents, company secretary, a registered office, nominee shareholders and directors, a company bank account with internet bank and debit cards, VAT number, and even a support for the first year of operation if necessary.
Generally, the procedure of a shelf company acquisition is fully organized by the service provider and it only takes 24 hours for you to be able to start trading. The process of a shelf company acquisition may differ among different service providers, but it generally takes 4 steps to buy a ready-made company:
Step 1. You choose a company from a list provided in your service providers’ web page;
Step 2. Your service provider sends you an invoice that needs to be paid;
Step 3. You file a signed Know Your Client form, a copy of your passport and a utility bill on your name;
Step 4. The service provider prepares your chosen company and all necessary documentation, which includes: all company incorporation documents, an open date share transfer agreement with your name, a trust deed prepared by the shareholders and nominee directors for you and some other informative documents. All the documents are sent to your address the same day. Since the company is already registered and has a VAT number, you can start trading the same day.
It is important for you to carefully consider which service provider is the most suitable for your needs as their offered service packages differ along with the prices and reliability. It is up to you to do a full due diligence for you to be able to trust your service provider. For example, while some service providers offer shelf companies with an already opened bank account, others offer an opportunity to open it only after the acquisition of the company, which will typically take several days.
Typically, shelf companies have a legal structure of a Private Limited Liability Company, which is also the most popular type of structure among newly incorporated companies. The popularity of this structure can be explained by the limited responsibility shareholders have in regards to the company’s debt and other liabilities. Also, the minimum capital is smaller in comparison to Public Limited Liability Companies – 5,000 EUR.
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IBC or International Business Company or as it is also called international business corporation basically is an offshore company which is usually formed under the laws of some jurisdictions worldwide as a tax-neutral company meaning that it is not taxable in the country of incorporation. It is also limited in direct business activity it may conduct while operating within the context of the jurisdiction in which it is incorporated.
Meaning and main functions of IBC Often IBC features can vary by jurisdiction, however, usually they include business data confidentiality, ability to issue shares, provision for a local registered agent or office and exemption from local corporate taxation as the majority of offshore jurisdictions have removed or are processing the removal of IBCs from local taxation while reducing corporate tax to zero in order to avoid damaging the whole offshore finance industry.
Such companies in general are incorporated for offshore banking, making international investments, asset protection, real estate and intellectual property ownership and other business activities related to international trade.
A list of jurisdictions offering IBC as a business structure As it is stated in Streber Weekly, there are plenty of jurisdictions offering IBC as a business structure. The list of such jurisdictions is pretty long: Antigua and Barbuda, Anguilla, Barbados, Bahamas, Belize, Brunei, British Virgin Islands or BVI, Cook Islands, Comoros, Dominica, Grenada, Gambia, Mauritius, Marshall Islands, Monsterrat, Nauru, Saint Lucia, Samoa, St. Kitts and Nevis, St. Vincent and the Grenadines, Seychelles and Vanuatu. This list contains most of the jurisdictions without taking into account their worldwide reputation. Some popular offshore jurisdictions which weren't mentioned before offer territorial taxation and other tax incentives instead of offering IBCs. These business structures can be operating as exempt companies, free zone companies or non-resident companies etc. while lacking the ease of IBC companies: Panama, Hong Kong, Cayman Islands, Turks and Caicos Islands (TCI), United Arab Emirates (UAE), Bermuda.
For example, Panama's jurisdiction, in general, is suitable for International Foundation or IBC in terms of asset protection. Hong Kong jurisdiction in general is also suitable for international trade due to favorable taxation regime as it imposes no withholding tax, capital gains tax, tax on investment income, VAT and other sorts of taxes.
Most reputable jurisdictions for IBCs British Virgin Islands (BVI) is referred to as world's leading offshore business center with more than 450,000 operating companies registered in its territory. It is often called the grandfather of all IBCs. International international business companies have a rather good reputation among other jurisdictions of such kind due to the ability to transfer domicile and privacy of ownership for assets collected inside of the company. In general BVI provide flexible, low-cost and prompt services for international offshore companies' incorporation.
Seychelles can be alternatives to BVI offshore companies as this jurisdiction offer ease of administration, simplicity and privacy as well. In addition, IBC is the most widely used type of company incorporated on islands with more than 175,000 companies registered there. The IBCs of this jurisdiction are commonly used as consultancy and personal service companies as well as Holding Companies shares, real estate and equities.
Bahamas is one of the oldest offshore jurisdictions, considered to be a classic one as the BVI mentioned before as it is an independent and politically stable which has an improving reputation and is gambling friendly.
St. Kitts and Nevis has decent reputation while being also politically stable and having average to low costs. However, this jurisdiction is more popular for its Limited Liability Companies (LLC).
Saint Vincent and the Grenadines has merely low costs. It is quite politically stable with good reputation which has improved in recent years because of the gaining popularity due to financial operations carried out by Euro Pacific Bank and Loyal Bank.
Belize is also a great place for IBC formation. In frames of this jurisdiction IBC can be used with the purpose of international trade, asset protection, offshore banking, owning real estate, e-business or any other financial services.
Such IBCs are suitable for business transactions globally as well as making deposits and managing offshore investments such as bonds, mutual funds, stocks and other types of business services, while providing consulting and such professional services as management, corporate credit cards ownership, covering legitimate expenses etc.
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A merchant account is a certain type of bank account which is designed to allow businesses to accept payments made by their clients with a debit or credit card. In other words, a merchant account is an agreement between three parties: a retailer, a merchant bank and a payment processor for the purpose of settling credit and debit card payments. When a customer pays for his or her purchase with a credit or debit card, the funds are initially deposited into the merchant account and eventually transferred further to the bank account of the business. The transfers to the bank account are usually organized on a daily or weekly basis.
Types of Merchant accounts There are various types of merchant accounts that typically can be grouped into two categories and the description of each type gives a rather clear overview which of them would be the most suitable for your business. The main categories of a merchant account are swiped and keyed.
Swiped merchant account is usually used when a business meets its clients face-to-face and during this meeting a client is able to swipe his or her card to pay for the products and services. This type of merchant account is usually described further in respect to the application of the said account:
Retail Merchants – conduct transactions in a retail environment. The customer's card is swiped through a terminal and typically a signature or a pin code is captured; Wireless / Mobile – similarly as retail merchants, but in a wireless environment using a mobile terminal. An example of such a merchant would be a taxi driver or a pizza delivery; Restaurant – similarly as retail merchants but with an additional function – ability to add tips to the charge. According to the name of this type of merchant account, mostly used by restaurants and cafes; Lodging – similarly as retail merchants but the business may adjust the payment amount according to additional charges. This type of merchant account is used by hotels and bed & breakfasts in case a client has used a minibar or other extras. Keyed merchant accounts are used when the customer card's information is taken over the phone or internet (or sometimes even in person) and keyed in by the employee himself. While this application of a merchant account takes more time and is less convenient, it is also less expensive than the previously discussed merchant accounts.
Internet or e-commerce merchants – for businesses that operate through a website and use internet payment gateway service to collect the customer's card information and process it accordingly; Mail & Telephone Order – the customer's card information is delivered over the phone, mail or internet and manually processed through either a credit card machine or virtual terminal; Face to face – this type of merchant is similar to wireless / mobile swiped merchant account, but instead of investing more funds to acquire a mobile terminal, it is possible to take the necessary information of the customer and key it in over the phone.
Advantages and disadvantages of a merchant account While it is crucial to choose the most appropriate type of merchant account depending on its intended application for the best experience, there are some general pros & cons to be discussed.
Advantages:
Increased sales – due to higher convenience in comparison to cheque or cash payments; Faster transactions; Security – no risk of theft or unintentional mistakes by employees when working with cash; More choices – the more payment options you offer to your clients, the more convenient it is for them to shop with you; Ability to accept multi-currency credit or debit cards.
Disadvantages:
Cost – typically, a business has to pay for each transaction; Delay – customer's funds are first deposited to merchant account and only later transferred to the business bank account; Fraud – there is always a risk of identity theft or internet fraud; Charge backs – it is easy for customers to require a charge back, especially if the funds are still in the merchant account.
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Manufacturing is the largest economic sector in the world, which is also one of the most important, directly and indirectly accounting for a large part of all economic activity and all jobs worldwide. It processes items and is dedicated to either creating new goods or adding value by producing finished goods for sale to customers or intermediate goods to be used in the production process. After the industrial revolution that began in Britain a few centuries ago, labour-intensive textile production was successfully replaced by mechanization and the use of fuel. Today, manufacturing creates jobs, technological development and an increase in international investment.
For this reason, some jurisdictions are leveraging manufacturing output and value-added exports to increase their operations, business performance and revenue, and to address the challenges and opportunities that manufacturers face every day in conducting their businesses.
According to Deloitte's 2016 Global Manufacturing Competitiveness Index, China, the United States, Germany, Japan and South Korea are ranked as the top five most competitive manufacturing countries in the world. These countries generate about 60% of global manufacturing GDP.
China Canada and its provinces compete on a global scale for investments that result in low production costs, low wages for factory workers, and the adoption of globally popular product mandates. As a result, there are some significant trends in Chinese manufacturing that can easily be highlighted. These trends include creating a globally competitive, expansive manufacturing business model, helping to create a competitive business environment for manufacturing in China and increasing sales in domestic and overseas markets. This fact can encourage start-ups to grow, invest and compete with other successful manufacturing companies.
United States The United States is successful in attracting investment in many of the world's most active industries, such as aerospace, auto assembly, pharmaceuticals, to name a few. The USA has signed an agreement with Germany to implement a dual vocational training program for the advanced manufacturing sector. US business policies focus primarily on technology transfer, sustainability, monetary control, and science and innovation, giving manufacturing companies (automotive in Detroit and high-tech in Silicon Valley) a competitive advantage.
Germany Germany retains a relatively high share of manufacturing exports. The country provides long-term support in government-sponsored science labs and national programs created to foster manufacturing innovation in areas such as solar and wind power and renewable energy (renewable energy sources accounted for 28% of the country's electricity generation in 2014). In addition to an energy revolution in the manufacturing industry, the country is striving to phase out nuclear energy.
Japan Japan has a technology-intensive manufacturing sector that dominates the global manufacturing landscape in most advanced economies. The country maintains manufacturing competitiveness as there is a close link between manufacturing competitiveness and innovation. Japan has strong potential to become one of the most advanced manufacturing jurisdictions in the world. The Robot Revolution Realization Council was established in the country in 2014 as part of the Japan Revitalization Plan, introducing infrastructure and energy resources for next-generation vehicles. Japanese companies account for 50% of the global factory robot market.
South Korea As the world leader in the manufacture of liquid crystal displays (LCD), smartphones and memory chips, automobiles, and the world's largest shipbuilder, South Korea is actively pursuing growth in free trade agreements with more than 50 countries. The country invests heavily in education and produces a large number of researchers every year. It is also known that supporting manufacturing innovation in South Korea with venture capital investments to boost high-tech startups is identified as a strategic priority.
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Tax exemptions for UK trusts A UK trust can be fully exempt from income tax if the following conditions are met:
One of the trustees is not a UK resident. All property/estate, shares and all other assets are located outside the UK. The beneficiaries are non-UK residents. The settlers are not based in the UK. In accordance with English/Welsh law, the first trustee must be a UK resident person or company. In most cases the trustee is a professional and licensed UK trustee service provider. In order to benefit from tax exemptions there must be an additional trustee resident outside the UK. This may be an offshore trust service provider or the client's legal representative or law firm.
The main components of a UK trust Settlor The settlor establishes a trust and appoints the trustees. In doing so, he or she transfers full ownership of the assets to the trustees. Trustee(s) The trustees are responsible for administrating the assets in favour of the beneficiaries. They may receive an initial recommendation from the settlor on how to manage the trust (instructions can be indicated in the letter of wishes) and must ensure that the rights of the beneficiaries are protected. They have full control over the trust, but are not entitled to any income that it accumulates.
Trust deed A formal trust deed sets out the arrangement between the settlor and the trustees and the terms of administration. Beneficiaries The beneficiaries are the individuals who benefit from the trust, and may be defined as the settlor’s children or future children. It is common practice to have discretionary beneficiaries, who are not informed in advance of their future and potential interest in the trust. Summary
UK trusts can grant their owners a reliable and reputable onshore location. Structured properly, UK trusts can be very attractive in terms of taxation, security and the confidentiality of assets. English/Welsh law offer the protection of the UK legal system.
This is a great solution for non-UK resident individuals, who own property and generate income outside the UK.
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IBC or International Business Company or as it is also called International Business Corporation is basically an offshore company that is usually incorporated under the laws of some jurisdictions worldwide as a tax neutral company, meaning that it is not subject to tax in the country of incorporation. It is also limited in the direct business activities it may engage in while operating in the context of the jurisdiction in which it is incorporated.
Importance and main functions of IBC Often IBC features can vary by jurisdiction, but typically include confidentiality of business records, ability to issue shares, provision of a local registered agent or office, and exemption from local corporate income tax as the majority of offshore Jurisdictions that removed or are processing removal exempt IBC from local taxation while reducing corporate income tax to zero to avoid hurting the entire offshore finance industry.
Such companies are generally formed for offshore banking, international investment, asset protection, real estate and intellectual property ownership, and other business activities related to international trade.
A list of jurisdictions offering IBC as a business structure As stated in Streber Weekly, there are many jurisdictions that offer IBC as a business structure. The list of such jurisdictions is quite long: Antigua and Barbuda, Anguilla, Barbados, Bahamas, Belize, Brunei, British Virgin Islands or BVI, Cook Islands, Comoros, Dominica, Grenada, Gambia, Mauritius, Marshall Islands, Monsterrat, Nauru, Saint Lucia, Samoa, St. Kitts and Nevis, St. Vincent and the Grenadines, Seychelles and Vanuatu. This list includes most jurisdictions without considering their worldwide reputation. Some popular offshore jurisdictions not mentioned previously offer territorial taxation and other tax incentives in lieu of IBCs. These business structures can operate as Exempt Corporations, Free Zone Corporations, or Non-Resident Corporations, etc. without having the ease of IBC corporations: Panama, Hong Kong, Cayman Islands, Turks and Caicos Islands (TCI), United Arab Emirates (UAE), Bermuda.
For example, the jurisdiction of Panama is generally appropriate for International Foundation or IBC in terms of asset protection. The jurisdiction of Hong Kong in general is also convenient for international trade due to the favorable tax system as no withholding tax, capital gains tax, capital gains tax, VAT and other types of taxes are levied.
The most respected jurisdictions for IBCs The British Virgin Islands (BVI) is recognized as the world's leading offshore business center with more than 450,000 operating companies registered on its territory. He is often referred to as the grandfather of all IBCs. International international business corporations have a fairly good reputation among other jurisdictions of this type due to the ability to transfer domicile and privacy of ownership for assets collected within the corporation. In general, the BVI provide flexible, cost-effective and fast international offshore company formation services.
Seychelles can be alternatives to BVI offshore companies as this jurisdiction also offers ease of administration, simplicity and privacy. Additionally, with more than 175,000 companies registered there, IBC is the most common type of company formed on islands. The IBCs of this jurisdiction are commonly used as consulting and staffing services firms, as well as holding companies for stocks, real estate, and stocks.
The Bahamas is one of the oldest offshore jurisdictions to be considered classic like the previously mentioned BVI as it is independent, politically stable, has an improving reputation and is gambling friendly.
Saint Kitts and Nevis has a good reputation but is also politically stable and has an average to low cost. However, this jurisdiction is more popular for its limited liability companies (LLC).
St. Vincent and the Grenadines has low costs. It is quite stable politically and has a good reputation which has improved in recent years due to increasing popularity due to financial deals conducted by Euro Pacific Bank and Loyal Bank.
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The development of telecommunications and economic globalization have made it possible for interested investors to set up companies all over the world. With proper research, financial investment and legal backing, business ventures can be safely incorporated in almost any country in the world. Building an international business used to be a complicated entrepreneurial venture, but today it is commonplace with the help of experienced legal and business advisors.
The advantages of founding a company abroad are as numerous as they are obvious. Many countries offer specific locational advantages, ranging from natural resources and well-established infrastructure to beneficial laws and regulations that encourage growth in a particular industry. Likewise, it can be difficult to start a business or an acquisition in your own country due to adverse situations: political or regulatory environment, lack of resources and more. In this situation, it makes sense to consider an overseas option that offers greater opportunities for growth, development, and success.
Company registration in Tunisia When starting a business in Tunisia, an interested investor must conduct due diligence on legal procedures, international regulations and sufficient investments for success. It is crucial to understand cultural, social and political factors that influence starting and growing one's business. Failure to do so may result in unintended consequences. Poorly researched and toneless international launches often end in disaster as time, money and energy is wasted due to poor planning.
Legal Documents Every country in the world presents its own intricate challenges when it comes to starting, developing and maintaining a business. Owners, financiers and investors must make these commitments with the support of a knowledgeable and experienced legal team. Only someone with in-depth knowledge of local and international corporate law will be able to set up an overseas business while avoiding the pitfalls that plague many new businesses.
Additionally, smart business people can consider ways to invest in foreign companies without actually starting their own businesses. In these situations, it is still beneficial for the investor to partner with a knowledgeable global economics and litigation advisor. International investments create a truly diverse portfolio that offers growth opportunities that were unthinkable decades ago.
Potential investors, venture capitalists and entrepreneurs should consider the existing infrastructure in Tunisia when planning to start a new business. While extensive infrastructure and systems can help make the process of starting a business a smooth one, it could also represent market saturation and reduced growth potential. On the other hand, a lack of infrastructure is often a major obstacle to growth; However, the lack of infrastructure points to a clear market opening for a creative and efficient new business.
Opening a bank account in Tunisia In connection with the establishment of a company, it is necessary to open one or more bank accounts in Tunisia. Confidus Solutions offers the ability to open a bank account in over twenty jurisdictions, making it easy for you to avoid challenging language barriers or bureaucratic hassles.
Virtual office in Tunisia Since a registered address is a necessity for international business, Confidus Solutions enables foreign investors to set up a virtual office in Tunisia. This address allows international entrepreneurs to accept mail, arrange for shipping and set up a registered bank account in their country of business.
Tax regulations If you are in the process of researching a business formation in Tunisia, consult a lawyer or consultant with extensive experience in the area you are considering. This advisor can help you with everything from laws and tax structures to local helpers. You need to consider every aspect from the local office to your highest organizational structure; Make sure you recruit the best possible mentors as you embark on this exciting but challenging process.
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Lithuania is considered a large nation due to its total area. Its total land area is 65,300 km² (about 25,212 mi²). The Lithuanian continental shelf is approximately 7,031 km² (approximately 2,715 mi²). Lithuania is in Europe. Europe is a continent whose borders date back to ancient times. European countries include the United Kingdom, Italy, Germany, Switzerland, Luxembourg, Malta and the Vatican, among others. Lithuania has 4 neighboring countries. Its neighbors include Belarus, Latvia, Poland and Russia. Lithuania is not a landlocked country. It means it is bounded by at least one major body of water. The average altitude range of Lithuania is 110 m (361 ft).
Neighbors The total length of land borders of Lithuania is 1549 kilometers (~598 miles). Lithuania shares its land borders with 4 different countries and has the same number of unique land borders with neighboring territories. If, as in the case of Lithuania, a country has the same number of distinct neighboring regions as land borders, then that country does not have non-contiguous sections of a land border. This is in contrast to several countries that have multiple non-contiguous stretches of land borders. Lithuania has 4 neighboring countries. Its neighbors include Belarus, Latvia, Poland and Russia. The lengths of land borders of Lithuania with its neighboring countries are as follows:
Belarus - 502 km (312 miles), Latvia - 453 km (282 mi), Poland - 91 km (57 mi), Russia - 227 km (141 miles).
Cities The capital of Lithuania is Vilnius. The largest city in Lithuania is Vilnius.
Elevation The average altitude range of Lithuania is 110 m (361 ft). The highest point in Lithuania is Aukštojas Hill with an official height of 294 m (965 ft). The lowest point in Lithuania is Nemunas. It is -5 m (-16 ft), i.e. below sea level. The height difference between the highest (Aukštojas Hill) and the lowest (Nemunas) point in Lithuania is 299 m (2 ft).
Area The total land area of Lithuania is 65,300 km² (about 25,212 mi²). and the total Exclusive Economic Zone (EEZ) is 7,031 km² (~2,715 mi²). The continental shelf of Lithuania is approximately 7,031 km² (around 2,715 mi²). Including the landmass and the EEZ, the total area of Lithuania is approximately 72,331 km² (~27,927 mi²). Lithuania is considered a large nation due to its total area.
Forest and farmland 21,223 km² of Lithuania's territory is covered with forests, and forest areas make up 33% of the country's total area. There are 29,261 km² of arable land in Lithuania, which accounts for 45% of the country's total area.
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08.10.2024 22:34
