Hong Kong is the second simplest jurisdiction for business in the latest report by TMF Group; China and Indonesia drop in complexity
LONDON, July 25, 2021 /PRNewswire/
Hong Kong remains a great place for business according to the
Global Business Complexity Index
(GBCI) by TMF Group, a leading professional services firm.
The report analyses key areas of business administration and compliance across 77 jurisdictions, from the time it takes to incorporate a company, to changes in tax legislation, policies around wages and benefits, through to the challenges of opening a bank account. In all, over 290 different criteria are factored into this year s rankings.
Denmark most business-friendly country in world; Norway and Sweden among simplest in Europe, TMF Group report reveals
prnewswire.co.uk - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from prnewswire.co.uk Daily Mail and Mail on Sunday newspapers.
Denmark Tops List Of Best Countries For Business
forbes.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from forbes.com Daily Mail and Mail on Sunday newspapers.
Japan (2020: #46)
Paraguay (2020: #33)
Apart from the above, the report detailed key aspects that contribute to these overall rankings. Two key HR aspects are shared below:
Top three mandated benefits globally: Minimum wage, paid time off and paid sick days
The requirements for the provision of employee benefits have largely remained consistent since 2020, particularly more standardised benefits such as minimum wage, paid sick days, and paid maternity leave. There has been an increase in the requirement for paid time off, which is now mandated in almost all jurisdictions.
Looking at more progressive benefits such as childcare assistance and housing or social care contributions, there have been increases to the legal requirement of these benefits for permanent employees since 2020.