Most Complex Jurisdictions for Doing Business
Taking any business overseas is a tricky step to take. If you are interested in expanding your business to any of these 10 jurisdictions, you should already anticipate the struggles you might encounter as the process will take both time and administrative resources. This article might help you consider some key factors impacting various countries and alert you on the jurisdictions that might result in longer launch times when it comes to expanding your business to those countries.
The top 3 complex jurisdictions are all found in South America: Argentina, Brazil, and Bolivia. In Argentina, controls on trade and access to foreign exchange is one of various ways in which the Argentine government can make doing business more complex. Brazil’s legal system still lags behind the other countries found in the region and also suffers from a high level of government bureaucracy. Bolivia moved down one spot in the ranking but despite that recent government legislation proves that the country remains a difficult place to do business in.
In the countries just mentioned, there are several things that can smoothen the process of doing business. In order to have your business expansion run smoothly you should have thorough local knowledge and representation to navigate government departments. In addition you need to accurately draft documents and keep close ties with the authorities.
This article is based on the Global Benchmark Complexity Index: International Entity Management