Argentina Ranked Most Complex Place To Do Business In The World

UK and Ireland ranked amongst the least complex; Whistleblowing and Cyber Security top the compliance agenda of multinational boards.

For the second year running, Argentina has been ranked as the most complex country for multinational enterprises to do business in according to TMF Group's Global Benchmark Complexity Index.

The far-reaching annual study by TMF Group, a leading provider of global business and compliance services, has ranked 81 jurisdictions across Europe, the Middle East, Africa, Asia-Pacific and the Americas according to how complex they are to do business in from a regulatory and compliance perspective.

According to the findings, South America was found to be the most complex region to operate in, accounting for the top three places and half of the Index's top 20, including Brazil, which climbed 15 places to number two in the rankings.

The high levels of government bureaucracy and red tape are cited as key reasons for making the local business environment in Brazil extremely challenging. For example, it can take around 54 days of work to start a business in Brazil compared to just 6 days in the United Kingdom.

The UK (including the Channel Islands) and Ireland are ranked amongst the least complex places to do business, alongside Australia, Hong Kong and New Zealand.

Ireland has retained its place in the top three least complex business destinations (79th out of 81) for the second year running thanks largely to its common law framework, stable political environment, strong legal framework and pro-business attitude. The enactment of the Companies Bill in early 2015 is expected to simplify its environment even further and initiatives such as the Knowledge Development Box, which will enhance Ireland's onshore intellectual property regime, will ensure Ireland remains one of the most popular destinations for international business.

Results summary:

Argentina (1st), Brazil (2nd) and Bolivia (3rd) are ranked as the most complex Poland (7th) is the only European country to feature in the top 20 despite significant reform, thanks in part to systems and laws inherited from the former Soviet Union Also in the top 10 were the United Arab Emirates (4th) and the emerging economies of South Korea (5th), Indonesia (9th) and Thailand (10th) Ireland (79th), Hong Kong (80th) and Jersey (81st) ranked as the least complex The research identified local legal systems as a key driver in the complexity of regulatory environments. Those countries...

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