People
Population: 827,000 (2007 provisional census)
Languages: English, Fijian, Hindustani
Ethnic Groups: Fijian 54%, Indian 38%, Chinese 8%, European, other Pacific Islanders.
Geography
Location: Oceania, island group in the South Pacific Ocean, about two-thirds of the way between Hawaii and New Zealand.
Economy
Currency: Fijian Dollar (FJD)
GDP per capita: USD 3,783 (2007 est.)
GDP growth: 3.1% (2007 est.)
Exports: Sugar, garments, gold, timber, fish, molasses, coconut oil
Government
Republic
Head of State: President of the Republic of the Fiji Islands H.E. Brigadier General Ratu Epeli Nailatikau
Exchange control
- Stringent controls apply to payments abroad
- Foreign currency funds must be handled by authorised dealers
- Borrowing locally by non-resident investors is limited and related to percentage of local equity participation
- Applications for foreign currency to repatriate capital and profits of non-resident companies are generally approved after tax clearance is obtained
- Restrictions apply to funds to be deposited to non-resident (styled "external") accounts
- Credit cards and International debit cards obtained in Fiji may also be used outside Fiji for limited shopping expenses and travel-related purposes only.
Banking regulations
- The Reserve Bank of Fiji exercises strict control over all banks' capital
- Bank fees and charges are monitored and regulated
- Banks may set their own interest and exchange rates
- Reserve ratio (Statutory reserve deposit – SRD) is 6%.
Taxation
Withholding tax is payable on interest earned by non-resident.