Complexities and opportunities of doing business in Latam - GBCI 2022

06 October 2022
10:00 a.m. - 11:00 a.m. (EST)
 -  Online

4 Latam countries are in the TOP 10 most complex jurisdictions to do business globally according to the GBCI 2022.

GBCI 2022: Doing business in Latam

We at TMF Group are delighted to be able to bring you our 2022 Global Business Complexity Index, looking at differences in the rules and requirements for doing business in 77 jurisdictions around the world. Those jurisdictions cover just 32% of the total country count, but capture the world’s largest economies and investment hubs, representing 71% of world population, 92% of world GDP and 95% of net FDI inflow.

The Global Business Complexity Index 2022 (GBCI) provides an authoritative overview of the complexity of establishing and operating businesses around the world. It explores factors driving the success or failure of international business, with a focus on operating in foreign markets, and outlines key themes emerging globally as well as local intricacies across 77 jurisdictions.

The GBCI 2022 is based on 292 different indicators relating to business complexity, and provides indepth analysis of the global and local challenges that impact on the ease of doing business around the world. These data points are used to compile a global ranking of the 77 jurisdictions, based on the complexity of their business environments and covering legislation, compliance, accounting procedures, tax regimes, human resources (HR) rules and payroll processes.


10:00 a.m. - Welcome

10:05 a.m. - What is the Global Business Complexity Index (GBCI)? 

10:10 a.m. - 3 Global themes

  • Emerging from Covid-19: We explore whether Covid-19 accelerated existing trends and ask: are changes to legislation and practices that resulted from the pandemic here to stay?
  • Simplification: By comparing different jurisdictions we identify what’s driving simplification for global business, and any barriers that are making things more complex.
  • The rise of ESG: We examine the impact of Environmental, Social, and Governance (ESG) criteria on corporate behavior and in government legislation and guidance.

10:15 a.m. - Global Top 10: Most complex and simple jurisdictions to do business in the world

10:25 a.m. - Latam deep dive: 

  • Peru 3rd most complex jurisdiction
  • Colombia 5th most complex jurisdiction
  • Argentina 12th most complex jurisdiction
  • Chile 15th most complex jurisdiction
  • Uruguay 27th most complex jurisdiction
  • Costa Rica 33rd least complex jurisdiction

10:55 a.m. - Questions and closing remarks


Federico Liutvinas – South Latam Market Director

Broad experience earned in national and multinational companies. Before joining TMF in 2018, Federico worked in Thomson Reuters as Managing Director for Chile, Paraguay, Peru & Uruguay. Previously, he worked more than 15 years in EY rendering audit and consultancy services to multinational public and private owned companies.

Headshot of Juan Carlos Rubio

Juan Carlos Rubio – Managing Director

Started his career in TMF Group in Amsterdam in 2009, where he held several managerial positions in our Capital Markets practice. In 2016, he joined the America’s team as Director of Client Services, based in Miami, Florida. Juan Carlos was responsible for all Payroll, Accounting and Corporate secretarial services in the United States. Since July 2019, is the Managing Director of TMF Mid America operations in Costa Rica, Dominican Republic, El Salvador, Guatemala, Honduras, Jamaica, Nicaragua and Panama. Juan Carlos holds a bachelor’s degree in Law from Universidad Dr. Jose Matias Delgado in El Salvador, and a LLM in Business and International Corporate Law from Erasmus University Rotterdam.

Geraldo Arosemena

Geraldo Arosemena - Peru Managing Director

Previous experience in the corporate sector and financial companies. Special interest in the stock market, banking regulation, and the development of fiduciary businesses. Three years of experience as a leader of TMF FiduPerú and then as MD of the TMF office in Peru. Previously, he worked at Grupo Bancolombia as legal director in Peru and also at BBVA as legal manager of Corporate Banking and Capital Markets.

Diana Agudelo - Commercial Director

Joined TMF back in 2012 as Client Account Manager handling some of the biggest global accounts in Colombia. Moving into the role of on-boarding officer making sure the proper transition between sales and delivery services were aligned and is currently Comercial director ensuring the entry of new businesses globally. Diana understands the complexities that can arise when a company seeks to expand internationally and ensure clients are aware of it, simplifying processes for them and aligning expectations to reality.