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The 10 Simplest Countries For Doing Business

Via Business Insider : TMF Group is an international professional services firm with offices in more than 8o countries.

It specialises in providing HR and financial services to businesses operating in foreign countries.

Every year, TMF publish its Global Benchmark Complexity Index Report, ranking countries all across the world according to how complex they are to do business in from a regulatory and compliance perspective.

This includes both setting up a local firm and opening a branch as a foreign company.

The research took into consideration local legal systems, economic and political events and cyber security risks.

10. New Zealand

New Zealand

As a general trend, countries with a common law framework (like the United Kingdom and many former British colonies) are considered less complex to operate in than countries with a civil law framework, like those in Europe and Latin America.

Setting up a business in New Zealand normally requires less than one day, when the average in the OECD is more than nine working days.

Source: World Bank

9. Barbados

Barbados

Mostly known for its stunning beaches and crystal waters, Barbados is restyling itself as an international foreign exchange centre.

Among the perks: high political stability and the same time zone as the US east coast.

Source: US Government

8. United Kingdom

United Kingdom

The UK enjoys a unique position for being part of the European Union but out of the Euro zone at the same time.

London is by far the leading market for currency traders and attracts foreign firms like no other city on earth.

Source: Business Insider

7. Guernsey

Guernsey

The small island in the English Channel is technically a “Crown possession,” and is not part of the United Kingdom.

It has long established as a safe port for international companies, with no taxes on wealth, sales, and capital gains.

Source: PKF

6. Australia

Australia

As many other former British colonies, Australia enjoys a common law framework as well.

Moreover, in the last ten years Australia has more than halved tariff rates on imports and cut down the corporate tax to one of the lowest rate in the OECD.

Source: PwC

5. Puerto Rico

Puerto Rico

Puerto Rico is part of the US but with the tax structure of a foreign country.

For example: it is regulated by US law (with all the perks of legal and property protection) but selected activities receive a preferential tax rate of 0% to 1%.

Source: Puerto Rico Department of Economic Developement and Commerce

4. Bonaire

Bonaire

Another Caribbean paradise on the list, Bonaire is an oversea territory of the Netherlands.

In 2001 it revised its tax regime to part with the image of being a tax-haven, but many companies still enjoy offshore tax rates as part of preferred agreements.

Source: PwC

3. Ireland

Ireland

Ireland is a favourite for foreign investors in Europe, thanks to its generally low tax rates.

Tech companies like Google, Facebook, and Paypal all have their European headquarters in Dublin, where they enjoy a total tax rate on profit of 25%. The average in the OECD is 41%

Source: World Bank

2. Hong Kong

Hong Kong

As many other places on this list, Hong Kong enjoys a unique status by being part of China but having its own regulation and tax policies.

For example, it is ranked the best country in the world for applying to a construction permit.

Source: World Bank

1. Jersey

Jersey

Jersey, the largest of the British Channel Island and another possession of the Crown, is the ultimate tax-haven.

0% VAT and potentially 0% of corporate tax lured international companies to Jersey, up to the point that four fifths of the local economy comes from the offshore finance sector.

Source: Startup Overseas

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