Taiwan company registration

DOING BUSINESS IN TAIWAN IN 2022

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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 entities LLC Fast setup solution Free zone LLC PLC RO Branch
Best use of company? All products and services Close client deal now Manuf/ export trading To get pub. funding Marketing & research Specific projects
How soon to invoice Clients? 7 weeks 2 weeks 8 weeks 3 months NA 7 weeks
How soon can you hire staff? 7 weeks 2 weeks 8 weeks 3 months NA 7 weeks
How soon can you sign a lease agreement? Immediately Immediately Immediately Immediately Immediately Immediately
How long to supply corporate bank a/c? 4 weeks 2 weeks 4 weeks 4 weeks 4 weeks 4 weeks
How long to supply co. reg / tax numbers? 9 weeks 2 weeks 10 weeks 3 months 2 months 9 weeks
Corporate tax rate on annual profit? 20% 20% 20% 20% NA 20%
Limited liability entity? Yes Yes Yes Yes No No
Government grants available? Yes Yes Yes Yes No Yes
Govt approval required for foreign owners? Yes Yes Yes Yes Yes Yes
Res. director/partner/ legal rep. required? No No No No Yes Yes
Recommended min. paid up share capital? US$3,300 US$3,300 US$200,000 US$50,000 NA NA
Can bid for Government contracts? Yes Yes Yes Yes No Yes
Corporate bank account location? Citibank Bank of East Asia HSBC Standard Chartered Citibank Standard Chartered
Can secure trade finance? Yes Yes Yes Yes No Yes
VAT payable on sales to local customers? 5% 5% 5% 5% None 5%
Average total business set up costs? US$15,390 US$28,255 US$18,390 US$18,840 US$16,040 US$16,040
Average total engagement period? 3 months 3 months 3 months 3 months 3 months 3 months

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Accounting and tax considerations LLC Fast setup solution Free zone LLC PLC RO Branch
Statutory corporate tax payable? 20% 20% 0% 20% NA 20%
Legally tax exempt if properly structured? No No No No Yes No
Group HQ tax incentives? No No No No No No
Must file an annual tax return? Yes Yes Yes Yes No Yes
Must file annual financial statements? Yes Yes Yes Yes No Yes
Must appoint an auditor? No No No Yes No No
Access to double taxation treaties? Yes Yes Yes Yes No Yes
WH tax on payments to foreign s/holders? 21% 21% 21% 21% NA NA
Company Registration LLC Fast setup solution Free zone LLC PLC RO Branch
Res. director/partner/ legal rep. required? No No No No No No
Min. number of shareholders/partners? 1 1 1 1 Parent company Parent company
Minimum number of directors/managers? 1 1 1 3 1 1
Maximum shareholding for foreigners? 100% 100% 100% 100% 100% 100%
Shelf companies available? Yes Yes Yes No No No
Time to incorporate a new entity? 7 weeks 2 weeks 8 weeks 3 months NA 7 weeks
Can easily convert to a PLC? Yes Yes Yes Yes No No
Can have preference shareholders? Yes Yes Yes Yes No No
Business Considerations LLC Fast setup solution Free zone LLC PLC RO Branch
Good entity for trademark registration? Yes Yes Yes Yes No No
Can secure an import and export license? Yes Yes Yes Yes No Yes

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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