Hong Kong: Hong Kong and New Zealand remain among the world’s least complex jurisdictions for doing business, according to the latest Global Business Complexity Index (GBCI) released by TMF Group. The index evaluates the business environment in 79 jurisdictions, covering 94 percent of global gross domestic product (GDP), and ranks them based on over 250 indicators of business complexity. Jurisdictions are ranked from most to least complex, with the first position being the most complex and the 79th position being the least.
According to BERNAMA News Agency, TMF Group Head of Asia Pacific (APAC), Shagun Kumar, stated that regional decision-makers are intensifying efforts to ease business procedures. He noted that these efforts to reduce unnecessary burdens are helping unlock economic growth across APAC, and businesses are expected to adapt and leverage the region’s potential as a vital part of their global strategies.
Hong Kong Special Administrative Region (SAR) retained its position as the fourth easiest jurisdiction globally for the second consecutive year. TMF Group highlighted the territory’s straightforward and low tax regime as a key factor in attracting international businesses. Similarly, New Zealand remained within the top 10 easiest jurisdictions, benefiting from the government’s proactive stance on foreign investment and efficient administrative processes.
Meanwhile, India was ranked 18th in terms of complexity, primarily due to a wave of regulatory amendments aimed at enhancing transparency and accountability. Although these changes are anticipated to bring long-term benefits, they have increased the compliance burden on businesses.
Japan improved its ranking from 38th to 43rd, with a less complex business environment aided by simplification efforts and increased availability of English-language support for international financial firms. Singapore ranked 48th, maintaining its status as a resilient and technologically advanced trade hub, with continued investment in infrastructure cited as a key factor behind its attractiveness to global businesses.
China’s Mainland entered the top 10 most complex jurisdictions, ranking 10th this year. The report attributed this to frequent regulatory changes and regional disparities, despite ongoing government incentives to boost investment and trade logistics.
The top five most complex jurisdictions are Greece, France, Mexico, Turkey, and Colombia. Conversely, the Cayman Islands, Denmark, and New Zealand are the three least complex jurisdictions, followed by Hong Kong SAR and Jersey.