Poland improves ranking, no longer the most complex European country for business compliance

Annual index by TMF Group ranks 95 countries according to regulatory and compliance regimes

  • Hungary (13th), Poland (17th) and Switzerland (19th) are the only European nations in the top 20 most complex countries for business compliance
  • Argentina (1st), Indonesia (2nd) and Colombia (3rd) are ranked as the most complex for doing business from a regulatory and compliance perspective, while Ireland (95th), British Virgin Islands (94th) and Latvia (93rd) are the least complex
  • Also in the top 10 are the United Arab Emirates (4th) Mexico (6th), Bolivia (7th), Lebanon (8th) and Brazil (10th)

Warsaw, Poland, 16 February – Poland is no longer Europe’s most complex country for business compliance, according to TMF Group’s Global Benchmark Complexity Index 2015. In the rankings published today, Poland has fallen ten places to 17th from its previous ranking of seventh. The country has been recognised as an attractive destination for businesses, offering a burgeoning domestic market, backed up by a fast and steady growing economy.

The far-reaching annual study by TMF Group, a leading global provider of high value business services to clients operating and investing internationally, ranked 95 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. View full report.

Recent legislative changes to the Commercial Companies Code have reduced the regulatory and compliance burden for businesses. This includes streamlining procedures for amending the registration of commercial companies and using written permission instead of submitting a notarised specimen signature of individuals entitled to represent entities with the National Court Register (KRS). Registering a general partnership and limited partnership company may soon also be done online, with a standard contract available on the Ministry of Justice’s website.

Mikołaj Pluciński, TMF Group Managing Director in Poland, said: “Poland’s improvement in the rankings can be attributed to the reduction in bureaucratic hurdles facing companies. Whilst there are still challenges, the country offers benefits to multinationals looking to expand in the Central and Eastern Europe region.”

Latin America has retained a strong presence at the top of the Index, with Argentina ranked as the most complex country from a regulatory and compliance perspective, for the third year running. This is followed closely by Indonesia, Colombia, UAE and China who come in at second, third, fourth and fifth places respectively. Ireland has been ranked as the least complex jurisdiction for business compliance, largely due to its common law framework, stable political environment and pro-business attitude.

For further information, please contact:

Robert Mrozowski
Havas PR Warsaw
Tel: +48 518 985 466
E-mail: robert.mrozowski@havasww.com

About TMF Group:

TMF Group is a leading global provider of high value business services to clients operating and investing globally. It focuses on providing highly specialised and business-critical financial, legal and human resource administrative services that enable clients to operate their corporate structures, finance vehicles and investment funds in different geographical locations. TMF Group has operations in more than 80 countries across the Americas, Asia Pacific, Europe and the Middle East.

www.tmf-group.com

 
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