Taiwan company registration

DOING BUSINESS IN TAIWAN

Since 2003, Healy Consultants Group PLC has been efficiently and effectively assisting our Clients with i) Taiwan business registration ii) business licensing iii) Taiwan corporate banking solutions iv) visa options and staff recruitment strategies and v) workspace rental solutions.

SummaryTax resident LLCFast business setup solutionFree zone LLCPublic limited companyRepresentative officeBranch office
Best use of company?All products and servicesClose a customer deal nowManufacturing and export tradingTo secure public fundingMarketing & researchSpecific projects
How soon can you invoice Clients / sign sales contracts?9 weeks2 weeks10 weeks3 monthsNone9 weeks
How soon can you hire staff?9 weeks2 weeks10 weeks3 months7 weeks9 weeks
How soon can you sign a lease agreement?2 weeks2 weeks2 weeks2 weeks2 weeks2 weeks
How long to supply corporate bank account numbers?6 weeks2 weeks7 weeks9 weeks6 weeks6 weeks
How long to supply company registration / tax numbers?9 weeks2 weeks10 weeks3 months2 months9 weeks
Corporate tax rate on annual net profits?17%17%17%17%0%17%
Limited liability entity?YesYesYesYesNoNo
Government grants available?YesYesYesYesNoYes
Government approval required for foreign owners?YesYesYesYesYesYes
Resident director/partner/manager/ legal representative required?NoNoNoNoYesYes
Recommended minimum paid up share capital?US$3,300US$3,300US$200,000US$50,000US$17,000US$17,000
Can bid for Government contracts?YesYesYesYesNoYes
Corporate bank account location?CitibankBank of East AsiaHSBCStandard CharteredCitibankStandard Chartered
Can secure trade finance?YesYesYesYesNoYes
VAT payable on sales to local customers?5%5%5%5%None5%
Average total business set up engagement costs?US$14,040US$28,255US$18,390US$18,840US$14,490US$14,040
Average total engagement period?2.5 months4 months4 months4 months2.5 months3 months

See full table

Accounting and tax considerationsTax resident LLCFast business setup solutionFree zone LLCPublic limited companyRepresentative officeBranch office
Statutory corporate tax payable?17%17%17%17%0%17%
Legally tax exempt if properly structured?NoNoNoNoYesNo
Group HQ tax incentives?NoNoNoNoNoNo
Must file an annual tax return?YesYesYesYesNoYes
Must file annual financial statements?YesYesYesYesNoYes
Must appoint an auditor?NoNoNoYesNoNo
Access to double taxation treaties?YesYesYesYesNoYes
Withholding tax on payments to foreign shareholders?20%20%20%20%NoneNone
Company RegistrationTax resident LLCFast business setup solutionFree zone LLCPublic limited companyRepresentative officeBranch office
Resident director/partner/manager/ legal representative required?NoNoNoNoYesYes
Minimum number of shareholders/partners?1111Parent companyParent company
Minimum number of directors/managers?111311
Maximum shareholding for foreigners?100%100%100%100%100%100%
Shelf companies available?YesYesYesNoNoNo
Time to incorporate a new entity?7 weeks2 weeks8 weeks10 weeks2 months2 months
Can easily convert to a PLC?YesYesYesYesNoNo
Can have preference shareholders?YesYesYesYesNoNo
Business ConsiderationsTax resident LLCFast business setup solutionFree zone LLCPublic limited companyRepresentative officeBranch office
Good entity for trademark registration?YesYesYesYesNoNo
Can secure an import and export license?YesYesYesYesNoYes

Sponsorship by a local citizen required?No
Our Client needs to travel to Taiwan for business set up?Yes
Temporary physical office solutions available?Yes
You need a local resident as bank signatory?No
Can be wholly foreign owned?Yes
The entity will likely be regulated by?Ministry of Economic Affairs (MOEA)
Monthly VAT reporting to the Government?No
Must sign an office lease agreement during incorporation?Yes
Public register of shareholders and directors?Yes
Security deposit to be kept with Government?No
Shareholders & directors documents to be attested\translated?Yes
Each foreign director needs a personal income tax number?No
Foreign director needs a residence visa?No
Maximum number of staff allowed?No
Expatriate to local staff ratio?None
Can secure residence visa for business owner?Yes
Other useful information
This country has signed free trade agreements?Yes
This country is a member of TRIPS?Yes
This country is a member of the ICSID?No
Average custom duties suffered?2.00%
Government foreign investment approval required?Yes
Average monthly office rental? (US$ per sq m)US$25
Minimum statutory monthly salary?US$700
Average monthly US$ salary for local skilled employees?US$3,000
US$ deposit interest rate? (1 year average)0.55%
Overseas remittance currency controls?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes

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Contact us

For additional information on our company registration services in Taiwan, please email us at email@healyconsultants.com. Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
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