Nauru is considered a developing country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developing country, Nauru may not be able to provide consistent social services to its citizens. These social services can include things like public education, reliable health care, and law enforcement. Citizens of developing countries can have a lower life expectancy than citizens of developed countries. Each year, Nauru exports about US$0.057 billion and imports about US$0.126 billion. 22.9% of the country's population is unemployed. The total number of unemployed in Nauru is 2,590. The country's Gini index is 67. Nauru suffers from severe inequality. The gap between the richest and poorest citizens in this country is quite obvious and highly significant, resulting in dramatically different living standards for rich and poor citizens.

Currency
The currency of Nauru is the Nauru Dollar. The plural form of the word Nauru dollar is dollars. The symbol used for this currency is $ and is abbreviated as AUD. The Nauru Dollar is divided into cents; there are 100 in a dollar.

Credit rating
Creditworthiness is the degree to which international investors trust a country to pay off debt and honor the country's lending commitments. There is no information about the creditworthiness of Nauru.

Central bank
national debt
Nauru has a public debt of 34.4% of the country's gross domestic product (GDP) as estimated in 2012.

Control information
Corporate tax in Nauru is 30%. VAT in Nauru is 0%.

Finances
The total Gross Domestic Product (GDP) valued at Purchasing Power Parity (PPP) in Nauru is US$0.06 billion. Gross Domestic Product (GDP) per capita in Purchasing Power Parity (PPP) per capita in Nauru was last recorded at $0 million. PPP in Nauru is considered below average compared to other countries. Below-average PPPs indicate that citizens in this country find it difficult to buy local goods. Local goods can include food, shelter, clothing, healthcare, personal hygiene, essential furnishings, transportation and communications, laundry, and various types of insurance. Countries with below-average purchasing power parities are dangerous locations for investments. The total gross domestic product (GDP) in Nauru is 0 billion. Based on this statistic, Nauru is considered a small economy. Countries with small economies generally support fewer industries and investment opportunities. However, worthwhile investment opportunities can be found. Gross domestic product (GDP) per capita in Nauru was last seen at $0 million. The average citizen in Nauru has very little wealth. Countries with very low wealth per capita often have lower life expectancies and a dramatically lower quality of life for their citizens. In countries with very low levels of prosperity, it can be very difficult to find a highly skilled workforce as it is difficult for citizens to obtain the education required for specialized industries. However, labor can be found at very low rates compared to countries with higher wealth per capita. The annual GDP growth rate in Nauru averaged 0% in 2014. According to this percentage, Nauru is currently experiencing modest growth.

An offshore company is usually referred to as a company incorporated for the purpose of doing business outside of its country of registration. This means that such a company can be registered and operated outside the national borders of a person or company. This can be particularly worthwhile when it comes to legal, financial or tax advantages. A company can also legally move abroad to benefit from relaxed regulations, or in other words, to benefit from international laws. This is also the main reason why business people decide to set up a company abroad.

Some of the countries are deliberately making their local business attractive to leverage foreign capital and investment. The well organized and well known worldwide offshore destinations are UK, USA, Belize, Cyprus, Hong Kong, Dominica, Singapore, Seychelles, Panama and St Kitts & Nevis to name a few. Buying a business remotely these days is advantageous and easy to do.

Advantages of offshore companies
There are certain advantages of running an offshore company. For example property protection when a person has a lot of money and can use such an opportunity to protect them from lawsuits and divorce settlements. Another benefit is low taxes. Some jurisdictions are called tax havens due to the level of taxation that depends on the jurisdiction: tax exemptions, flat taxes, 0% capital gains tax, etc. The other advantage is related to international expansion when a company encounters many legal and bureaucratic issues in its homeland. Other benefits include: lower costs of doing business, tax deferral, compounding of deferred tax profits, easy annual reporting, multiple revenue streams, VAT savings on services, and anonymity.

Normally, the benefits to be derived from an offshore company depend on the jurisdiction of the offshore company and to some extent also on the laws of the country of residence of the owner of the company. Because of this, business people need to be mindful of the offshore jurisdiction they choose and take into account the local laws of that country.

Incorporation procedures for offshore companies
There are only a few basic steps that need to be taken to incorporate a company in Hong Kong, Belize, Seychelles or St Kitts & Nevis. First, the cost of the basic services needed to start a business must be covered, which includes a certificate of incorporation, a resolution to rent an office and a directory of directors (approximately €700). Second, there is an additional fee for privacy; depending on the chosen law firm (approx. 400 €). There is also a fee for opening a bank account with personal presence, which is required to open it for the sake of the businessman's security, a fee for obtaining a logo, rubber stamp, seal, name tag, as well as fees for apostille, virtual offices, etc. A person must provide their personal credit card details and contact information. There is also a mandate to be signed, which specifies who has the right to control the opened bank account, add and remove signers and close it. It depends on the articles of association of the company.

Frequently, the above services may also optionally include the formation of international trading companies, the provision of a registered agent, the provision of business management, document preservation and business administration services, governance, equity participation, the formation of offshore funds, as well as assistance with the licensing of Offshore insurance includes companies and offshore banks, offshore bank account launches, virtual office services and corporate searches. These services can be offered and provided by professionals such as high net worth individuals, private entrepreneurs, professional advisors, accountants and legal advisers working in local businesses of local jurisdictions in Hong Kong, Belize, Seychelles or St Kitts and Nevis etc.