Taiwan company registration

DOING BUSINESS IN TAIWAN IN 2020

pay fee by instalmentsbusiness setup without travel

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.

Compare different Taiwan entitiesLLCFast setup solution Free zone LLCPLCROBranch
Best use of company?All products and servicesClose client deal nowManuf/ export tradingTo get pub. fundingMarketing & researchSpecific projects
How soon to invoice Clients?7 weeks2 weeks8 weeks3 monthsNA7 weeks
How soon can you hire staff?7 weeks2 weeks8 weeks3 monthsNA7 weeks
How soon can you sign a lease agreement?ImmediatelyImmediatelyImmediatelyImmediatelyImmediatelyImmediately
How long to supply corporate bank a/c?4 weeks2 weeks4 weeks4 weeks4 weeks4 weeks
How long to supply co. reg / tax numbers?9 weeks2 weeks10 weeks3 months2 months9 weeks
Corporate tax rate on annual profit?20%20%20%20%NA20%
Limited liability entity?YesYesYesYesNoNo
Government grants available?YesYesYesYesNoYes
Govt approval required for foreign owners?YesYesYesYesYesYes
Res. director/partner/ legal rep. required?NoNoNoNoYesYes
Recommended min. paid up share capital?US$3,300US$3,300US$200,000US$50,000NANA
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 costs?US$15,040US$28,255US$18,390US$18,840US$16,040US$16,040
Average total engagement period?3 months3 months3 months3 months3 months3 months

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Accounting and tax considerationsLLCFast setup solutionFree zone LLCPLCROBranch
Statutory corporate tax payable?20%20%0%20%NA20%
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
WH tax on payments to foreign s/holders?21%21%21%21%NANA
Company RegistrationLLCFast setup solutionFree zone LLCPLCROBranch
Res. director/partner/ legal rep. required?NoNoNoNoNoNo
Min. 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 weeks3 monthsNA7 weeks
Can easily convert to a PLC?YesYesYesYesNoNo
Can have preference shareholders?YesYesYesYesNoNo
Business ConsiderationsLLCFast setup solutionFree zone LLCPLCROBranch
Good entity for trademark registration?YesYesYesYesNoNo
Can secure an import and export license?YesYesYesYesNoYes

Sponsorship by a local citizen required?No
Our Client must travel to Taiwan?Yes
Temp. physical office solutions available?Yes
You need 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
Sign office lease during incorporation?Yes
Public register of s/holders and directors?Yes
Security deposit kept with government?No
S/holder/director docs attested/translated?Yes
Foreign director needs personal tax no.?No
Foreign director needs a residence visa?No
Maximum number of staff allowed?No
Expatriate to local staff ratio?None
Residence visa for business owner?Yes
Other useful information
Taiwan 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?4.23%
Govt foreign investment approval required?Yes
Average monthly office rent? (US$/sq m)US$20
Minimum statutory monthly salary?US$700
Average US$ salary for local skilled staff?US$3,000
US$ deposit interest rate? (1 year average)1.05%
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

Taiwan business setup summary

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For additional information on our company registration services in Taiwan, please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi
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