Hong Kong, New Zealand Among Easiest Business Hubs

KUALA LUMPUR, May 13 (Bernama) -- Hong Kong and New Zealand ranked among the world’s 10 least complex jurisdictions for doing business, supported by stable regulatory environments and strong digital infrastructure, according to TMF Group’s latest Global Business Complexity Index (GBCI).

The 13th edition of the GBCI found that operating across borders is becoming increasingly demanding as regulations diverge and reporting obligations expand globally.

TMF Group said the report analysed 81 jurisdictions, representing more than 90 per cent of the global economy, ranking them from most complex (1) to least complex (81) for doing business. The study assessed 292 indicators across accounting and tax, legal entity management, and employment requirements.

“World political fragmentation and economic spread mean that businesses are adding jurisdictions to their supply chains, increasing the complexity of their governance. It also means that they have to deal with more uncertainty in those regulations,” said TMF Group Chief Executive Officer, Mark Weil in a statement.

India ranked as the 13th most complex jurisdiction, reflecting the challenges of its federal structure where central and state regulations intersect. TMF Group noted that while ongoing reforms may increase complexity in the short term, they could also create longer-term opportunities for foreign investors under a more business-friendly policy direction.

Japan, Taiwan and Singapore were classified as medium-to-low complexity jurisdictions. Japan ranked 54th, aided by measures to attract foreign investment and highly skilled talent, while Taiwan placed 50th on the back of digital transformation initiatives and investment-friendly programmes despite regulatory and geopolitical pressures.

Singapore ranked 47th, benefiting from advanced digitalisation, alignment with international accounting standards, a competitive corporate tax regime, and an extensive network of double taxation treaties.

Meanwhile, Latin American and European Union economies dominated the 10 most complex jurisdictions globally. Greece retained its position as the world’s most complex jurisdiction for the third consecutive year due to frequent legislative changes and ongoing regulatory reforms.

Mexico ranked second, driven by shifting regulations and administrative requirements, while Brazil placed third amid heavy compliance demands and a multi-layered tax system.

-- BERNAMA