France “most complex” country for business

TMF Group, the Netherlands-based administrator, has launched the 10th edition of its Global Business Complexity Index (GBCI). The report analyses 78 jurisdictions which account for 92pct of the world’s total GDP and 95pct of net global FDI flows. It compares 292 annually tracked indicators, offering data on key aspects of doing business, including incorporation timelines, payroll and benefits, rules, regulations, tax rates, and other compliance factors.

The Cayman Islands retains its place as the easiest jurisdiction to do business. The U.S. has fallen out of the top 10, whilst Denmark, the UK and Hong Kong retain their places in the 10 least complex jurisdictions.

The 2023 ranking of the most complex jurisdictions is topped by France, replacing Brazil, which was considered the least business-friendly jurisdiction in both 2021 and 2022. Mexico, Colombia, Bolivia, Turkey and Italy are still in the top 10 most complex countries and are joined by Argentina. Factors making France the most complex place to do business include the focus on maintaining traditional ways of working, such as the use of the French language, and the continuation of historically stringent employee protection laws.

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