• Most complex jurisdiction in Europe according to new TMF Group report
• UAE at no. 1 is most complex, Ireland at 84th has the simplest compliance regime
When it comes to corporate compliance, no place in Europe is more complicated than
Poland, according to a new report by TMF Group – a leading provider of business services
to clients operating and investing globally.
The country is ranked 9th in the Compliance Complexity Index 2018, which assesses 84
jurisdictions globally, based on how difficult it is for companies to adhere to local business
regulations and associated issues. These include the time taken to set up, and comply with
The UAE at number one is most complex, followed by Qatar and China. Ireland is the
simplest jurisdiction in 84th position.
Jakub Plewka, head of corporate secretarial services at TMF Poland, commented:
“Poland’s reputation as a European growth engine shows no signs of slowing. But foreign
companies looking to establish here face many hurdles. The most common of these are long
set up times, particularly if there are multiple shareholders and they are based abroad.
“All company documents and some electronic procedures must be completed in Polish. And
while Poland has one legal system, the courts in different cities can interpret laws differently,
resulting in an inconsistent approach to reporting and enforcement.”
The 10 most complex countries for corporate compliance
TMF Poland managing director Mikolaj Plucinski added: “Poland has made efforts to
simplify its regulatory framework in recent years. But global trends towards financial
transparency, and increased compliance obligations add a high number of acronyms to the
pile for company heads and their legal teams. These include BEPS (base erosion and profit
shifting), CRS (common reporting standard), AMLD5 (anti-money laundering directive), UBO
(ultimate beneficial owner) and GDPR (general data protection regulation).
“That’s why we recommend businesses take steps to truly understand the corporate
compliance landscape, and work with local partners – such as TMF Poland – to give them
the right knowledge for success.”
To download the full report, please visit www.tmf-group.com/CCI2018