Updated in October 2025 Introduction The growth Mexico offers from a business, cultural and social perspective is in constant evolution, as is the legal framework and opportunities for business consolidation and continued growth. Ingredients such as sustained economic growth, demographic mix, structural reforms in key industries and Mexico’s long standing legal tradition give Mexico the opportunity to be a desired jurisdiction to do business. Mexico offers many grants and incentives to encourage business development. Foreign owned companies are eligible for the same incentives as Mexican owned companies. Incentives are focused on promoting employment, technological research and development, construction, and the growth of small and medium-sized enterprises (SMEs). The business environment Mexico has a broad free trade agreement network that includes North America, Europe, Japan, the Transpacific Partnership and throughout Latin America, allowing for an attractive international trade platform between countries with substantially reduced tariff and non-tariff requirements. There have been strong government efforts to reduce inflation in order to place Mexico on a level that

Introduction New Zealand has a deregulated, decentralised economy directly exposed to international competition. Over recent decades, successive New Zealand governments have reformed New Zealand’s trade rules by removing many barriers to imports, ending most subsidies, and ensuring that the rules relating to overseas investment are designed to encourage productive overseas investment in New Zealand. The business environment New Zealand is consistently ranked by the World Bank and others as one of the most business-friendly countries in the world. New Zealand was ranked as the sixth best country for Operational Efficiency and Public Services in the World Bank’s Business Ready 2024 report and as the fourth least corrupt country in Transparency International’s Corruption Perceptions Index 2024. New Zealand is an independent sovereign state and a member of the British Commonwealth of Nations. Parliament is triennially democratically elected. New Zealand does not have a written constitution. The electoral system became a ‘Mixed Member Proportional’ representation system in 1993, which generally results in coalition governments led by either the National

Updated March 2025 Introduction The European Commission forecasts that Poland's gross domestic product (GDP) growth in 2025 will remain below the EU average for a third consecutive year. Amid a turbulent economic landscape, the preliminary estimates from the Central Statistical Office indicate that GDP in 2024 experienced a modest increase of 2.5% compared to 2023, down from 4.9% in 2022. The growth rate reflects a gradual recovery from the economic challenges faced in previous years, particularly due to high inflation and rising interest rates. Although GDP growth in the last quarter of 2024 showed signs of improvement with a year-on-year increase of 3%, this was still below expectations. The Polish economy has been under pressure from reduced consumer spending, driven by stagnant real wages and increased borrowing costs. Geopolitical factors are also having an impact. However, investments in infrastructure and a rebound in exports have provided some support to the economy. Economists project that while growth is expected to stabilise in 2025, potential risks such as continued geopolitical tensions and

Updated in December 2025 Introduction As one of the largest economies on the continent, South Africa is a suitable base for generating investment and trade with the rest of Africa, particularly in the sub-Saharan region. South Africa has a well-developed infrastructure and established trade links with the rest of Africa. There are a variety of ways of structuring business operations in South Africa. The aim of this Practice Note is to highlight some of the key areas that a new business should consider before it begins to operate in South Africa. This Practice Note should not be considered to be an all-inclusive guide, and specific South African legal advice should always be sought before setting up and running a business in South Africa. South Africa consists of three levels of government, namely: national, provincial and local government. The National Assembly is the supreme law-making body and the laws made by it are applicable throughout the country. There are nine provinces, each with its own legislature, premier and executive council.

Updated in March 2026 Introduction The Republic of Korea (South Korea, and referred to throughout this Practice Note as ‘Korea’) maintains favourable conditions for entry into the East Asia market due in part to its geographically central location in East Asia’s transport networks. Korea currently has free trade agreements with a total of 59 trading partners, including the US, the EU, China, ASEAN, India, and Chile, and it is emerging as a centre for commerce worldwide, not just East Asia. Korea systematically encourages inbound foreign investment through various legislation to provide foreign investors with some incentives including tax benefits. There are a variety of ways of structuring a business operation in Korea. The aim of this guide is to highlight some of the key areas that a new business will need to address before it begins to operate in Korea. This guide should not be considered to be an all-inclusive guide and specific Korean legal advice should always be sought before setting up and running a business in Korea. The business environment Under

Updated in October 2025 Introduction Since the mid-twentieth century, Taiwan has been one of the 'Asian Tigers' maintaining a dynamic capitalist economy with a strong presence in international markets. According to the World Trade Statistical Review 2025, Taiwan is the 16th largest exporter in the world merchandise trade in 2024, and IMD World Competitiveness Yearbook 2025 ranked Taiwan as the 6th most competitive economy in the world. In addition, the government offers various attractive incentives to make Taiwan more business-friendly. With a stable political environment and domestic market, significant technical expertise in both hardware and software engineering, abundant high-quality human resources, well-established infrastructure, and favourable investment acts, Taiwan provides an attractive business climate. Furthermore, since it is located in the heart of the Asia Pacific region, Taiwan is a strategic platform connecting some of the major economies including the US, China, Japan, Korea and emerging markets such as the ASEAN Economic Community (AEC). In June 2010, the People’s Republic of China (PRC) and Taiwan signed the Economic

Updated in April 2026 Introduction Türkiye has been at the centre of the global political scene as a result of its position in the Syrian war in the south of the country and its refugee policies. The coronavirus (COVID-19) outbreak had a major effect on both the internal policies and the economy in Türkiye as in other countries across the world. The Mediterranean geopolitics related issues in the pursuit of natural gas remained as a hot topic. The economy has gone through a recession period since the last quarter of 2018, due to the attempted coup d’état that took place on 15 July 2016, characterised by high inflation rates, rising borrowing costs, and currency volatility. Although in 2020 the coronavirus outbreak affected the economic forecasts, Türkiye countered the negative effects by the Economic Stability Shield program announced on 18 March 2020, introducing supportive and preventive measures applicable countrywide to degrade economic impacts

Updated in January 2026 Introduction The Philippines has continued to demonstrate relatively strong and resilient economic performance, sustaining its position among the faster-growing economies in Southeast Asia. From 2010 to 2019, the country recorded an average annual GDP growth rate of approximately 6.4%, a marked improvement from the 4.5% average between 2000 and 2009. Despite the global economic challenges posed by the coronavirus (COVID-19) pandemic in 2020, the Philippines showcased resilience, with GDP growth rebounding to 5.6% in 2023, the highest growth rate in Southeast Asia. In terms of credit ratings, the Philippines has maintained favourable assessments from major international agencies. As of June 2024, Fitch Ratings affirmed the country's Long-Term Foreign-Currency Issuer Default Rating at 'BBB' with a stable outlook, reflecting the nation's strong medium-term growth prospects. This guide aims to highlight some of the key areas that a new business will need to know and address before it begins to operate in the Philippines. This guide should not be

Updated December 2025 Introduction The United Arab Emirates (UAE) is strategically located at the crossroads of major Western and Eastern economies. It is a constitutional federation of seven Emirates, each with its own local government, united under the overarching leadership of the Supreme Council and the Council of Ministers. As a member of the Gulf Cooperation Council (GCC), the UAE is part of the Middle East's only multi-national common market, with the aim to further cross-border economic and fiscal integration. Doing business in the UAE presents diverse opportunities for investors. This Practice Note outlines key considerations for foreign entities entering the UAE market and the fundamental steps required to establish operations. This Practice Note focuses on business set-up in Mainland UAE, the Abu Dhabi Global Market (ADGM), and the Dubai International Financial Centre (DIFC). While these jurisdictions are discussed in detail, investors may explore numerous other options across the UAE's extensive network of free zones, each offering distinct benefits and regulatory frameworks.

Updated in December 2025 Introduction The UK has been one of the favoured locations for global businesses to set up their first base in Europe. The UK has maintained strong trade links with most countries in the world—it is geographically located in Europe, but also serves as a mid-point between the US and Asian time zones. Although the UK is geographically part of Europe, it is no longer a member of the European Union and businesses seeking to establish operations in the UK should be aware of the increasing legal and regulatory divergence between the UK and EU Member States. It should be noted that the UK is composed of three separate jurisdictions: England and Wales, Scotland, and Northern Ireland. In most areas, the same or very similar laws will apply in each of these jurisdictions. However, there are differences between the three jurisdictions particularly in relation to local government regulation, the transfer of property and their judicial structures. This guide focuses on the jurisdiction of England and Wales. Additional local advice will be needed if the

Updated in July 2024 Introduction The US has one of the most competitive economies in the world. It is the largest national economy with an estimated GDP of over US$22.3trn in 2020 and is a top-performer on the World Bank’s Ease of Doing Business Index. There are a number of compelling reasons why international companies establish a presence in the US. The most significant factors are access to the strong US economy and advanced technology, political stability and a highly developed legal system with well-established judicial, regulatory and government authorities. US taxation is somewhat complex, but the use of US attorney can help simplify this requirement. There are a variety of ways of structuring a business operation in the US. The aim of this guide is to highlight some of the key areas that a new business should consider before it begins to operate in the US. This guide should not be considered to be an all-inclusive guide and specific US legal advice should always be sought before setting up and

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