Top 10 Most Complex Jurisdictions 2024

Greece has claimed the top spot as the world's most complex jurisdiction for business operations. The primary challenge is an extensive and ever-changing regulatory environment, with up to 31 new decisions published weekly, creating a significant compliance burden even for local professionals.

And rather than simplifying processes, digitalisation has instead added an additional layer of complexity. One example is MyData, an accounting software necessitating digital submissions, that requires multiple new deadlines across platforms. Limited knowledge of these complexities can often compel foreign investors to seek third-party advisors for A&T and HRP, only increasing costs. Challenges are expected to persist in the short-term as businesses adapt to new requirements, but the long-term outlook anticipates that digitalisation will simplify operations over time.

France remains one of the world's most complex jurisdictions, with rigid labor regulations and extensive documentation requirements. French legislation requires that many business documents be maintained in French, creating language barriers for foreign companies.

The country's regulatory environment is constantly evolving, with significant changes to accounting, tax, and HR regulations implemented in 2024. These include adjustments to Ultimate Beneficial Owner (UBO) reporting and digital invoicing requirements. Additional compliance pressure stems from various EU directives, including expanded Non-Financial Reporting Directive (NFRD) obligations and Environmental, Social, and Governance (ESG) reporting requirements.