Register Company in Taiwan within 4-6 weeks

Register company in Taiwan

Register company in Taiwan is hassle-free if you are familiar with the entire incorporation process. With Tetra Consultants at the wheel, you will be able to dedicate your time and resources to other more important channels.

With our lean-and-mean mentality, you can rely on our team of experts to provide you a seamless experience throughout the whole process to register company in Taiwan. Regardless of whether you are setting up an onshore or offshore company, our ultimate goal is for your Taiwan company to be operationally ready within the stipulated time frame.

Our service package includes everything you will require to set up business in Taiwan:

Register company in Taiwan with Ministry of Economic Affairs (MOEA)
Local company secretary and registered address
Corporate bank account opening
Annual accounting and tax services

Taiwan company registration Tetra Consultants

How long to register a Taiwan company and open corporate bank account?

Tetra Consultants will complete your Taiwan company formation through a seamless and fuss-free procedure.

Upon receiving the required due diligence documents of the directors and shareholders, Tetra Consultants will conduct Taiwan company registration search to check the availability of your preferred company name.

The process to register company in Taiwan with Taiwan Ministry of Economic Affairs (MOEA) can be carried out remotely and you will not be required to travel to Taiwan during the registration process.

Within 4-6 weeks, you can expect to receive the documents of your new company including Taiwan Company Registration Certificate, Taiwan company registration numbers and Memorandum and Articles of Incorporation.

After successful company formation, Tetra Consultants will assist to open a corporate bank account with a local Taiwan bank or with an overseas global bank depending on your long-term goals and objectives. Opening a bank account in Taiwan for foreigners will usually take around 4 weeks to be completed.

Consequently, you can expect to start operations and issue invoices with your Taiwan Company within 7 weeks upon engaging Tetra Consultants.

Tetra Consultants’ team of Chartered Accountants will ensure that your newly established company will continue to meet regulatory laws set by the National Taxation Bureau of Taipei (Taiwan Tax Office). This includes providing you with monthly bookkeeping, preparation of financial statements and annual tax return filings.

Can a foreigner start a business in Taiwan?

Taiwan’s government offers foreign investors several options on the different types of business entities to choose from when registering a company in Taiwan. Tetra Consultants will advise you on the steps and requirements for starting business in Taiwan.

For example, a Taiwan limited liability company can be registered with a foreign shareholder and foreign director. In most industries, a Taiwan limited company can be wholly foreign-owned.

Taiwan entities are subjected to a relatively low Corporate Income Tax Rate of 20%. As mentioned, Taiwan’s Corporate Income Tax Rate is comparatively lower than the Worldwide Average Statutory Corporate Income Tax Rate of approximately 24%, measured across 176 jurisdictions.

Furthermore, you do not need to pay any corporate taxes if you set up a representative office or a company in Taiwan’s Free Zones.

A mandatory statutory audit regulated by Taiwan Financial Supervisory Commission (FSC) is applicable for Taiwan entities with a paid-up capital of at least NTD$30million.

Additionally, corporations with more than 100 employees or have an annual net operating revenue exceeding NTD$100million are also subjected to a compulsory annual statutory audit, usually conducted at the end of each fiscal year. These regular and timely reviews ensure integrity and keeping corruption rates low.

Generally, there are no minimum paid-up capital requirements during a Taiwan company incorporation, with the exception of specific industries.

Do you need to be a resident to register company in Taiwan?

You do not need to be a resident of Taiwan to establish a company there; much of the setup process can be managed from your home country. However, if you opt to reside in Taiwan and establish your company, obtaining an Alien Resident Certificate (ARC) along with a work permit becomes necessary. The only instances requiring your presence in Taiwan would be to open a business bank account (without a Power of Attorney) and to apply for tax registration. This flexibility allows individuals to register company in Taiwan without the obligation of immediate relocation, facilitating entrepreneurship across borders while ensuring essential legal requirements are met.

Types of companies in Taiwan

Taiwan’s government offers foreign businessmen several options on the different types of companies to choose from when registering a company in Taiwan. Tetra Consultants will advise you on the steps required to register a company with the Taiwan Company Registry.

Limited Liability Company

When foreigners register company in Taiwan, the most common type of company is a Taiwan limited liability company (LLC).

A Taiwan limited liability company is a private company limited by shares. It is regarded as a separate legal entity by the Taiwan government. Shareholders are not personally liable or responsible for the company’s debts and liabilities.

A LLC is usually used to set up a Taiwan offshore company.

Minimum 1 shareholder of any nationality required with full foreign ownership of the company’s share capital granted. You can either appoint an individual shareholder or a corporate shareholder.

Minimum 1 Director of any nationality required.

While there is no paid-up capital requirement, Tetra Consultants would highly recommend a minimum accessible fund of US$5,000 to fund future operations and activities.

It is mandatory for a company to have a locally registered address in Taiwan.

Access to Taiwan’s Double Tax Avoidance Agreements.

Limited Partnership

Alternatively, foreigners may choose to set up a Taiwan Limited Partnership instead when doing business in Taiwan.

A Taiwan Limited Partnership involves two or more individual professionals, consisting of a general partner, who manages the daily operations and has unlimited liability for the corporation’s debt and obligations. Conversely, the limited partner is unable to partake in management. Foreign investors who have local partners in Taiwan can register a legal Limited Partnership.

Taiwan Limited Partnerships are regarded as tax transparent entities. Annual income and profits generated from Taiwan Limited Partnerships are not considered taxable income.

While there is no paid-up capital requirement, Tetra Consultants would highly recommend a minimum accessible fund of USD$5,000 prior to company incorporation to funding future operations.

Minimum 2 shareholders required with 1 resident local shareholder.

Free Trade Zone Company

Taiwan’s Free Trade Zones are specially designed to stimulate and catalyze the growth of onshore and offshore jurisdictions incorporated in the respective zones. The Ministry of Economic Affairs aims to utilize Free Trade Zones to facilitate an influx in foreign direct investments which will benefit the nation’s trade value and volume.

Tetra Consultants recommends you to consider register a Taiwan Free Trade Zone company if you are engaging in activities such as trading, warehousing or manufacturing.

Enterprises within Taiwan’s Free Trade Zones are exempted from Corporate Income Tax. The tax exemption granted by the Taiwan government alleviates the financial fiscal burden of businessmen.

Minimum 1 shareholder of any nationality required with full foreign ownership of the company’s share capital granted.

Minimum 1 Director of any nationality required.

An application and proposal comprising of the objectives of business operations and a description of proposed business activities must be submitted for review and approval by the Free Trade Zone’s management authority.

It is mandatory for a Free Trade Zone company to have a physical registered office in Taiwan.

Branch Office

A Taiwan branch office is a viable option when foreign companies wish to expand into Taiwan. The corporate shareholder will be the overseas parent company.

International investors can establish an extension of the parent company by setting up a branch office in Taiwan. The purpose of a Taiwan Branch Office is to facilitate operation and revenue generation in Taiwan on behalf of the parent company.

A resident manager is required. Tetra Consultants will provide assistance in the appointment of a trusted local manager on your behalf if necessary.

It is mandatory for a Taiwan Branch Office to have a registered office address in Taiwan.

There is no minimum quantity for Directors as Taiwan Branch Offices are considered as separate legal entities.

The Trade Name of a Taiwan branch office should contain the parent company’s trade name along with its originating country.

Representative Office (RO)

Foreign investors interested in gaining an in-depth understanding and exploring investment opportunities in Taiwan have the option of setting up a Representative Office (RO) within the jurisdiction. Similar to a branch, itscorporate shareholder is the parent company located overseas.

Allows you to comprehensively evaluate the viability of doing business in Taiwan before finalizing a decision to expand in Taiwan.

As such, ROs are only allowed to conduct limited and non-commercial activities such as market research and marketing activities for their parent company. Tetra Consultants would encourage foreign investors interested in promoting the company’s presence in Taiwan to set up a Representative Office.

To register a Taiwan Representative Office, a resident local manager is required. Tetra Consultants will provide assistance in the appointment of a trusted local legal representative on your behalf if necessary.

Some documents required in order to register a Taiwan RO include:
- Documentation that certifies the agent’s identity and residence
- Documentation that certifies the establishment of the foreign company in its country of residence
- A lease contract
- Copy of the registration card

How to register a company in Taiwan?

Step 1: Choosing an optimum business structure

Prior to company formation, it is essential to choose the correct type of company. Tetra Consultants will advise you on the most optimum business entity to suit your needs. Generally, the most common type of company in Taiwan is the limited liability company, which is also known as a company limited by shares.

Step 2: Reservation of company name

Tetra Consultants search and register for pre-inspection of your company’s name through the Taiwan One-stop Service Request portal. Our team will reserve your company’s name for up to 6 months. In addition, the company must have an official Chinese name but can also apply to have an English name. If required, Tetra Consultants will be happy to provide you the translation.

Step 3: Corporate bank account opening

After you have reserved your company’s name, you can proceed to open a corporate bank account. While there are no paid-up capital requirements when starting a business in Taiwan, Tetra Consultants will recommend setting aside at least US$5,000 as your paid-up capital to fund your overhead expenditures as well as initial deposit for corporate bank account opening.

Step 4: Preparation and submission of relevant documents

Once you have deposited capital into the bank account, Tetra Consultants will obtain a capital verification report. At the same time, you are required to prepare the documents required for a foreign director for incorporation of the company. This includes the application form, notarized passport copy and proof of address of individual directors and shareholders.

If you are planning to appoint a corporate shareholder, Tetra Consultants will require the Certificate of Incorporation, Memorandum & Articles of Association, minutes of the relevant Board of Directors’ meeting, power of attorney to appoint corporate shareholders’ representative, directors’ personal information and other relevant documents.

Once received, Tetra Consultants will submit the documents to the Taiwan Department of Commerce for company formation.

Step 5: Tax Registration

Upon successful registration of your company, Tetra Consultants will apply for a company Tax Code with the State Tax Bureau. All companies in Taiwan are subjected to accounting and tax obligations.

Companies in Taiwan pay a relatively low annual corporate tax rate of up to 20%. Businesses with an income lower than TWD120,000 are not taxable under the Taiwan Tax regulations. In addition, businesses in the Taiwan’s Free Trade Zones are exempted from corporate income taxes, subjected to approval.

All corporations in Taiwan are also required to submit annual financial statements audited by a certified public accountant to the Financial Supervisory Commission (FSC) as long as they are publicly listed or have a registered capital exceeding TWD 30,000,000.

Documents required to register company in Taiwan

Certificate of Incorporation

Power of Attorney for Appointment

Lease Agreement for the office space or tenancy agreement (if the company does not own the address)

Minutes of Meeting or a Written Resolution

Capital Verification Report

Company Registration Certificate

Memorandum and Articles of Incorporation

Financial statements

Annual tax return filings

Shareholder structure

Director and shareholder list of holding entities

Copy of passport of ultimate beneficial owners, directors, and shareholders.

Copy of registration card

Accounting and tax obligations

Accounting obligations

Compliance with statutory audit requirements overseen by the Taiwan Financial Supervisory Commission is obligatory for companies incorporated in Taiwan. This obligation specifically pertains to corporations meeting certain criteria, such as having more than 100 employees or achieving annual net operating revenue exceeding NT$100 million.

Regarding financial reporting, it is imperative for registered companies in Taiwan to maintain precise financial records and prepare comprehensive financial statements in accordance with the nation’s accounting standards. The responsibility for ensuring the accuracy and integrity of these financial reports lies with shareholders, directors, and responsible individuals.

Additionally, registered companies in Taiwan must adhere to regulations related to the Foreign Account Tax Compliance Act (FATCA) and Common Reporting Standards (CRS), particularly if they are financial institutions. This entails meticulous attention to reporting requirements and compliance measures mandated by FATCA and CRS to ensure regulatory alignment and mitigate the risk of penalties.

Tax obligations

For companies registered in Taiwan, Corporate Income Tax (CIT) applies to their worldwide income at a flat rate of 20%. However, non-resident companies are only taxed on income generated within Taiwan through a branch or agent.

CIT returns must be submitted annually to the tax authority within five months following the end of the tax year, highlighting the importance of timely compliance for registered companies in Taiwan.

Value Added Tax (VAT) at a rate of 5% is imposed on the supply of goods and services within Taiwan, as well as on imported goods, underscoring a significant tax obligation for companies operating within the Taiwanese market.

Additionally, certain goods and services are subject to a Gross Business Receipts Tax, ranging from 1% to 5%, adding complexity to the tax landscape for registered companies in Taiwan.

Withholding tax is imposed on payments of dividends, interest, royalties, and other income to non-residents at a standard rate of 20%, though reduced rates may be applicable under Taiwan’s double taxation agreements, offering potential relief for multinational companies registered in Taiwan.

Other taxes, such as the Commodity Tax ranging from 8% to 30%, further contribute to the overall tax burden for companies conducting business activities in Taiwan.

Employers and employees alike bear contributions to the social security fund, emphasizing the shared responsibility for ensuring social welfare within the context of employment for registered companies in Taiwan.

Tax incentives play a pivotal role in Taiwan’s economic landscape, with companies in Free Trade Zones enjoying exemptions from Corporate Income Tax, incentivizing investment and business activities within these designated areas.

Beyond tax incentives, non-tax incentives, including the Industrial Technology Development Program, land lease incentives in industrial parks, government participation in investment, and access to low-interest loans, offer additional avenues for growth and development for companies registered in Taiwan, contributing to a favorable business environment.

What is the best business in Taiwan?

The sectors in Taiwan mainly revolve around the Service, Manufacturing and Semi-Conductors industry. In recent years, the Taiwan government seeks to improve the nation’s manufacturing industry through the adoption of new technologies such as cloud computing, big data, the Internet of Things and smart robots.

The government’s goal to shift the jurisdiction’s industrial operation procedures and practices build Taiwan’s foundation as an emerging manufacturing hub.

Taiwan’s manufacturing industry has seen steady growth as its contribution to the jurisdiction’s economy has been increasing over the past few years. Due to Taiwan’s established and renowned manufacturing industry, the nation was listed as the Top 10 most automated countries in the world according to the World Robot Statistics. Such accordance of the country is enough to make foreigner start thinking about how to do business in Taiwan.

Recently, the Taiwan government pledged to spend over TWD$10billion in subsidies over the next 7 years to attract foreign direct investors to do business in Taiwan. Government funding will be utilized in the development of Artificial Intelligence, 5G and Semi-conductors.

As such, you can benefit from the government’s efforts and gain a significant amount of support when incorporating companies in Taiwan.

Taiwan’s service industry accounts for more than 65% of the nation’s Gross Domestic Product, with nearly 60% of the jurisdiction’s total employment falling under the service industry. The service industry contributes heavily to Taiwan’s economic growth and serves as the primary source of jobs for locals.

Just recently, Taiwan’s National Development Council established the Taiwan Services Trade Information Platform (TSTIP) in hopes to expand the nation’s service industry into the global market. The implementation of TSTIP opens up investment opportunities, connecting potential foreign businessmen and Taiwan’s service industry.

The government sees an imperative need for increased digital connectivity and advancements in the age of rapid digitalization. As such, the Ministry of Science and Technology established the Taiwan Tech Arena to support start-ups in the tech industry. With guidance and assistance from government-backed establishments, start-ups can better forge international relations and integrate into the global economy. Hence, it provides foreigners starting business in Taiwan with a conducive and productive working environment.

The Taiwan government is implementing new measures to improve the start-up environment within the nation. Tax credits, laws that encourage foreign talent and tracts of land specially reserved for start-ups are some of the many efforts laid out by the government. As Taiwan ramps up the nation’s efforts to surpass its neighbouring countries such as Singapore and Japan, it has led to the establishment of Taiwan’s unique start-up zone dubbed as the Asian Silicon Valley.

The Ministry of Economic Affairs provides start-ups and SMEs with financial grants to assist with the formulation of their operation models. As such, Taiwan’s well-developed services, manufacturing and tech industry accompanied by government-backed funding are concrete reasons justifying the feasibility of conducting operational activities and Taiwan company formation for foreigners.

Work permits and visas to register company in Taiwan

To legally work in Taiwan, foreign employees must obtain both a work permit and a work visa. The process involves several key steps. Firstly, the employer must meet specific capital requirements or demonstrate significant economic contributions to Taiwan to be eligible to apply for a work permit on behalf of the employee. Required documents for the work permit application include the company’s registration certification, business registration, letter of foreign investment approval, employment contract, and the employee’s education and work experience credentials.

Once the work permit is approved, the employee can proceed to apply for a Taiwan work visa. This visa, which may be for single or multiple entries and valid for 3 months to 1 year, requires submission of documents such as a valid passport, photos, approved work permit, health certificate, and additional documents based on the employee’s profession.

If the employee is already in Taiwan on a visitor visa, they can request conversion to a resident work visa through the Bureau of Consular Affairs. Additionally, companies must provide documents like the most recent income tax return, representative’s identification, and copies of registration certificates for the work permit application.

Furthermore, employees need an Alien Residence Certificate (ARC) alongside the work visa to legally reside in Taiwan during their employment. It’s crucial for companies intending to register in Taiwan to familiarize themselves with the specific regulations for permitted industries and occupations when obtaining work visas, as the process can be complex and challenging.

Is Taiwan a good place to start a business?

The Taiwan government highly values foreign direct investments and has provided foreign businessmen with a business-friendly environment in Taiwan. The nation lays out numerous attractive benefits to facilitate and ease the integration of international investors into the jurisdiction’s economy.

Tetra Consultants will address any queries you have at any point in time during your Taiwan company incorporation. Additionally, we adopt a PESTLE framework to help you comprehensively analyze the feasibility and practicality of doing business in Taiwan.

Political

According to the Corruption Perceptions Index (CPI) published by the Transparency International Organisation, Taiwan ranked 28^th out of the 180 countries evaluated. The CPI is the leading global indicator of public sector corruption. Taiwan’s impeccable ranking implies a low risk of corruptive activities in the nation’s public sector which reinforces an investor’s confidence in the jurisdiction’s political stability.

Taiwan establishes and maintains stable political relationships with several nations and is a member of the World Trade Organisation (WTO) and Asia-Pacific Economic Cooperation (APEC). Taiwan’s positive diplomatic relationships with the United States of America (USA) led to a consistent influx of foreign trading opportunities from the United States of America.

Taiwan is the United States’ ninth-largest trading partner, and the United States is Taiwan’s second-largest trading partner. As such, Taiwan’s healthy cross-border diplomatic relationships grant international businessmen with export access to numerous developed nations and countries.

Economic

Corporations in Taiwan are subjected to one of the lowest corporate income tax rates in the world. Properly structured, entities in Taiwan’s Free Trade Zones are granted a corporate income tax exemption by the Taiwan government when requirements are satisfied.

Otherwise, a 20% Corporate Income Tax will be applicable which is relatively low in comparison to the Worldwide Average Statutory Corporate Income Tax Rate of approximately 24%, measured across 176 jurisdictions.

With reference to the Global Competitiveness Report published by the World Economic Forum, Taiwan ranked as the 12^th most competitive nation out of the 141 countries assessed. Taiwan’s reputation as an innovative jurisdiction earned the recognition of the World Economic Forum as the nation was one of the four economies to receive a score of more than 80 in innovation capability.

Taiwan’s investment-friendly environment is justified through the nation’s ranking on the Foreign Direct Investment (FDI) Index that ranks the markets likely to attract the most investments in the next three years. The nation’s favourable standing on the FDI Index highlights the potential it possesses, providing international investors with remunerative benefits.

Social

Taiwan has a population size of approximately 23.8 million, with a labour participation rate of 59.1%. As such, foreign investors will gain access to a sizeable labour force in Taiwan. However, it is imperative to understand that approximately 36% of the Taiwanese workforce falls under the industrial sector.

According to the EF English Proficiency Index, Taiwan has a moderate proficiency in English. Taiwan ranked 38^th out of the 100 countries listed under the EF English Proficiency Index. Despite the nation’s decent performance on the EP English Proficiency Index, Mandarin Chinese is the official language in Taiwan. Hence, foreign investors may face difficulties when communicating with the local Taiwanese government authorities and bankers. If required, Tetra Consultants will arrange for a translation service conducted by a certified translator.

Taiwan’s high purchasing power provides international investors with an incentivizing domestic market. Furthermore, the nation’s immense population size grants foreign business owners access to a strong domestic market.

Technological

Taiwan recently launched a government-funded start-up program to provide tech start-ups with the necessary assistance and funding. The start-up program, Taiwan Tech Arena, empowers global tech-start-ups with the purpose of establishing a vibrant international start-up ecosystem in Taiwan.

The Taiwan Tech Arena serves as an optimal platform for collaborative efforts between corporations and tech start-ups. Furthermore, it allows talents to create new tech ventures in a supportive and modern environment.

Taiwan has an expansive list of talents in the tech industry. In accordance with OECD’s Programme for International Student Assessment (PISA), Taiwan’s talent pool ranked 5^th out of 72 countries evaluated. Taiwan’s outstanding performance exemplifies the nation’s capability to utilize mathematics and science knowledge to meet real-life challenges. The harmonious pairing of a supportive tech culture and a rich pool of talents provide the imperative foundation to foster the success of tech start-ups in Taiwan.

Taiwan’s Ministry of Science and Technology (MoST) provides tech start-ups in Taiwan with extensive monetary funding. The Ministry of Science and Technology has provided a conclusive amount of USD$77.26 million worth of funding support through the Taiwan Innovation and Entrepreneurship Centre (TIEC). The monetary benefits provided by the Taiwan government ease the financial responsibilities of tech businesses in the jurisdiction.

Legal

According to the latest annual ratings issued by the World Bank, Taiwan is ranked 15^th worldwide in terms of the jurisdiction’s ease of doing business. This exhibits Taiwan’s conducive regulatory environment for foreign investors.

Taiwan’s Free Trade Zones exempts foreign investors from import and export laws and interventions from custom authorities. Furthermore, investors are entitled to a corporate income tax exemption with no capital restriction. As such, relaxed investment policies enacted by the government helps to alleviate the fiscal financial burden on Taiwan business owners.

Just recently, Taiwan’s cabinet approved regulations to simplify foreign investment procedures. The draft amendments seek to simplify the application process and approval of foreign direct investments. As such, international investors need not seek advanced approval prior to investments with the exemption of special cases.

Environmental

Taiwan ranked 40^th out of the 180 countries assessed on the Environmental Performance Index (EPI). The nation’s adequate ranking highlights that Taiwan is proficient in addressing the environmental challenges that it faces. There is a sufficient understanding of the detriments of environmental progress in Taiwan.

Taiwan is one of the environmental leaders in the Asia Pacific Region. The nation partakes in collaborative efforts with the United States of America (USA) in hopes to promote ideal eco-friendly practices. The United States of America collaborated with Taiwan’s Environmental Protection Administration to establish the International Environmental Partnership (IEP).

As such, environmental protection efforts carried out by the government illustrate the jurisdiction’s deep understanding of a need to balance the nation’s industrial growth and environmental well-being.

Post incorporation obligations after you have register company in Taiwan

Annual general meeting requirement

Companies limited by shares in Taiwan are obligated to convene an annual general meeting as part of their corporate governance responsibilities, ensuring transparency and accountability in decision-making processes.

Maintenance of corporate records

To adhere to regulatory standards, companies must meticulously maintain accurate records, encompassing vital documents such as the articles of incorporation and detailed minutes of meetings.

Appointment of registered agent and corporate secretary

In compliance with legal protocols, companies typically appoint a registered agent to handle official legal correspondences. Additionally, the designation of a corporate secretary is often required, albeit incurring supplementary costs.

Obligation to file financial statements

A standard requirement involves the submission of audited financial statements to the relevant authorities, bolstering transparency and financial accountability within the corporate framework.

Adherence to laws and regulations

Companies operating in Taiwan must diligently adhere to the country’s laws and regulations, including any industry-specific mandates, to ensure legal compliance and mitigate regulatory risks.

Conduction of shareholder meetings

A legal mandate necessitates companies to conduct annual shareholder meetings, fostering engagement and participation among stakeholders while upholding corporate governance standards.

Reporting of business changes

Companies are obligated to report any alterations to their business structure, such as changes in directors or shareholders, to the relevant authorities, maintaining transparency and regulatory compliance.

Find out more!

Contact us if you have any enquiry regarding how to register company in Taiwan. Our team of experts will revert within the next 24 hours.

FAQ

How much does it cost to start a business in Taiwan?

While there are no paid-up capital requirements when starting a business in Taiwan, Tetra Consultants will recommend setting aside at least US$5,000 as your paid-up capital to fund your overhead expenditures as well as initial deposit for corporate bank account opening.

As for Tetra Consultants’ engagement fees, this depends on the exact services required from Tetra Consultants. Our fees are inclusive of government fees and all fees will be clearly stated in our engagement letter prior to the start of the engagement. Tetra Consultants believes in transparency with our valued clients and there are no hidden fees.

Can I physically travel to Taiwan to work instead of setting up a Taiwan offshore company?

Yes, this is possible if you have successfully attained a Taiwan work permit. In addition, you are required to increase your paid up capital depending on your business activities. Tetra Consultants is happy to assist you with securing the work permit through the Bureau of Consular Affairs.

Is it legal to use a virtual office instead of a physical office when setting up a company in Taiwan?

Yes, virtual office is allowed. Most Taiwan offshore companies use the registered address of their local agents. Tetra Consultants is happy to provide our international clients with this service.

Is it easy for foreigners to open personal or business bank accounts in Taiwan?

Tetra Consultants has many years of experience with personal or business bank account opening in Taiwan. There are a few considerations to take note of including your nationality, business activity and preferably Alien Permanent Resident Card (APRC).

If you are located outside of Taiwan, business owners can sign a Power of Attorney (POA) to allow a representative of Tetra Consultants in Taiwan to open the business bank account on your behalf.

We recommend you to speak to one of our banking consultants to evaluate the bank account openings.

Is Taiwan or Hong Kong a better jurisdiction for Asia business set up?

Both jurisdictions are widely popular and have different pros and cons. Hong Kong offshore company has a very attractive tax regime while Taiwan offers Free Trade Zones and APRC.

English is more widely used in corporate documents in Hong Kong, it may be more convenient for foreign companies that are proficient in English to set up their business in Hong Kong. This is as compared to Taiwan which only uses Traditional Chinese in their corporate documents.

It ultimately depends on your personal and business goals. Are you planning to travel physically work in your new company as a foreigner? Are you planning to set up an offshore company?

What is the main export of Taiwan?

The most popular sectors are Service, Manufacturing and Semi-Conductors. As such, the jurisdiction’s main export include machinery, computers, medical apparatus and vehicles.

What is the biggest company in Taiwan?

The biggest company in Taiwan in terms of revenue earned and employees employed is the Hon Hai Precision Industry Co. Ltd., known more widely as Foxconn. Foxconn manufactures electronic products for companies in many other countries and was the world’s largest supplier of electronics manufacturing services in 2010.

How do I find a company registration number?

You can search for a company’s registration number via the Taiwan Commerce Industrial Services Portal.

How to start a small business in Taiwan?

There are many types of small businesses which you can set up in Taiwan with a minimal amount of capital. The industry in which you choose to set up your business will depend on the skills and qualifications you possess as well as your business goal. You can refer to Tetra Consultant’s guide on how to start a business in Taiwan.

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