Global benchmark complexity index 2014
JANUARY 2015 | PUBLICATION - Premuim content | 19 Pages
From a business perspective, the world might be getting smaller but it is not getting simpler.
Managing corporate compliance for numerous subsidiaries around the world is a time-consuming and difficult task, soaking up hundreds of hours of time to monitor deadlines, interpret legislation and to prepare foreign documents. But which jurisdiction in the world is the most – or least – complicated?
A study by TMF Group provides insight and commentary on more than 80 jurisdictions and ranks them in order of complexity in a Global Benchmark Complexity Index. Download here.
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The burden of International entity management continues to be a major challenge for multinational companies. As businesses plan for international expansion, and look to effectively manage their existing legal entities, access to up-to-date information on jurisdictional challenges and changes is vital.
In its second annual ‘Global Benchmark Complexity Index’, TMF Group – a leading provider of global business and compliance services - has reviewed 81 jurisdictions (across EMEA, APAC and the Americas) according to their regulatory complexity and also compliance-related topics that are considered to be ‘hot’ issues in 2015.
2014 also saw significant changes in the global business environment and an increase in the compliance requirements shouldered by organisations, including FATCA compliance, anti-bribery and corruption, BEPS and changes in international company law.
Matt Eckford, Global Relationship Manager for TMF Group and author of the report, explained: “The insight provided by our local in-country experts has produced an illuminating view of the compliance challenges faced by multinationals and their in-house functions.
“Our study aims to condense the complex subject of corporate secretarial requirements and international entity management into a measureable and comparable benchmark – and provide insights into why certain jurisdictions are more complex than others.”
He continued: “From a practical point of view, an appreciation of a jurisdiction’s complexity can inform the timescale to setup a legal entity (and to be operationally ready), the level of technical expertise required and the effective performance of on-going compliance obligations in that jurisdiction.”
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