Company Registration In Taiwan

Taiwan provides the ideal setting for businesses wishing to go internationally to gain popularity in Asia. Due to their welcoming policies towards foreigners, business is flourishing in Taiwan. One of the best places for investors to consider starting a business is Taiwan, a nation geographically positioned in the centre of the Asia Pacific area. You may always contact our team of experts for Taiwan company registration if you're interested in starting a business here. Our specialists assist you in registering a legal entity and expanding your recently established company. In Taiwan, writing a business is simple if you know how the complete incorporation procedure works. You will be free to allocate your time and resources to other, more crucial channels when Enterslice is responsible for your business registration. 

Overview of Company Registration in Taiwan

As one of the four Asian Tigers, Taiwan is renowned for its innovation and willingness to embrace new technologies. Many of its industries are also open to foreign investment because they have been deregulated. Companies wishing to grow in Taiwan have access to favourable foreign investment options. Taiwan offers a range of tax advantages, such as industry-specific tax regimes and other incentives aimed at luring foreign investment. Taiwan has created streamlined and tailored business opening alternatives for investors. It works well as a doorway to the Asian markets. It has a plethora of banks, port facilities, and multinational trading businesses to encourage trading. Taiwan is a great place to get trade finance. It draws the top shipping businesses in the world to its ports.

Enterslice Company Registration Services Will Make Your Business 

Embrace Your Corporate Journey with Enterslice By

Business Formation - Our team of local government partners and in-country specialists manages most of the incorporation procedure. You save a tonne of money and time by doing this.

Consultancy Services - Our highly qualified experts will handle your monthly corporate services. This covers accounting, financial planning, and bookkeeping.

Regional Human Resources Division - For trustworthy and compliant help for your whole entity formation, you can count on the assistance of our local Human Resources department. 

Global Reach - Taiwan is positioned to benefit from the global production resources and marketplace due to its central Asia-Pacific location. The largest cities in the Western Pacific region can be reached from Taipei in about three hours on average by plane.

How to register a company in Taiwan?

Selecting the best possible business structure - Choosing the right company type is crucial when forming a firm. Enterslice will advise you on the best type of business structure for your requirements. Generally speaking, limited liability companies, also referred to as companies limited by shares, are the most prevalent form of company in Taiwan.

Name reservation for the business - We use the Taiwan One-stop Service Request portal to look up and register for a pre-inspection of your company's name. For a maximum of six months, our staff will hold the name of your business. The business may also want to have an English name. However, an official Chinese name is required.

Opening a corporate bank account - You can open a corporate bank account once your company's name has been reserved. Although there are no restrictions for paid-up capital when launching a business in Taiwan, Enterslice advises allocating some paid-up capital to cover your overhead costs and the opening deposit for your corporate bank account.

Preparing and Submitting the Necessary Documents - When you deposit capital into the bank account, we will get a capital verification report. You must also prepare the Paper works needed for a foreign director to be incorporated into the company simultaneously. This comprises the application form, a notarised copy of the passport, and each director's and shareholder's proof of address. We require the Certificate of Incorporation, Memorandum & Articles of Association, minutes of the pertinent Board of Directors' meeting, a power of attorney designating a corporate shareholder's representative, directors' personal information, and other relevant Documents if you intend to establish a corporate shareholder. Enterslice will file the Documents for company formation with the Taiwan Department of Commerce.

Registration of Taxes - Enterslice will apply for a company tax code with the State Tax Bureau following the successful registration of your business. Accounting and tax requirements apply to all companies in Taiwan. Taiwan offers businesses a yearly corporate tax rate of up to 20%, which is comparatively low. According to Taiwan Tax rules, businesses with incomes less than TWD 120,000 are not subject to taxation. Additionally, subject to clearance, companies operating in Taiwan's Free Trade Zones are spared from corporate income taxes. Suppose a publicly traded company has registered capital greater than TWD 30,000,000. In that case, it must also present annual financial statements that a certified public accountant has audited to the Financial Supervisory Commission (FSC).

Get the necessary authorisations and licences – Depending on the kind of business, more licences and permits might be needed. It is essential that the particular prerequisites and procedures may differ based on the type of business, i.e., limited liability company versus joint stock company, and the sector in which it functions. 

Embark your Company Registration Process with Enterslice

It is crucial to enlist the assistance of qualified company registration services before registering your business in Taiwan. These services have extensive subject knowledge and can walk you through the registration procedure and the necessary stages. Here are the requirements you must meet before starting the company registration procedure so that the incorporation process can begin:

Make an appointment for a consultation session - Talk to our consultants about your intended business activity and your intentions for the company's future after it has been founded and is operating. To help you with what needs to be done, be as transparent and honest as possible during your conversation, providing as much information as possible for top-notch service.

Hold onto a Company Name - Following the initial conversation, a company name will be needed for the following phase. If requested, company names in Taiwan may be registered in Chinese. The Ministry of Economic Affairs will be in charge of the name reservation.

Choose an Office Location - The next step is to look for the best place to put your company. In Taiwan, foreign-owned businesses must lease premises to get approval from investors.

Eligibility for Taiwan Company Registration

The following conditions need to be fulfilled to register a company in Taiwan:

• At least one company director must be a citizen of Taiwan or a foreign national with a current work permit.
• There should be a minimum of one shareholder in the company, who may be a person or a business.
• The company should have a Taiwanese-registered office address.
• A business registration certificate, which may be obtained from the local government office, is a requirement for the company.
• Additionally, the business has to register for several taxes, including income tax and VAT.

It is also important to remember that numerous company forms, like limited liability corporations and joint stock companies, can be registered in Taiwan, and each form has unique criteria.

Types of Business Entities For Company Registration in Taiwan

Different kinds of business entities can be founded in Taiwan, such as:

Limited Liability Company of Taiwan - Usually, the best corporate structure for foreign investors wishing to launch new businesses in the nation is a limited liability company. One shareholder and one director are needed for an LLC to be registered in Taiwan. Either doesn't need to live in Taiwan. There are no minimum paid-up capital requirements to form an LLC with Taiwan. However, we advise investors to hold at least $3,400. This will increase the likelihood that councils such as the Ministry of Economic Affairs will promptly register and authorise.

Taiwan Limited Partnership - In Taiwan, limited partnerships are formed by at least two general partners and one limited partner. A general partner has personal liability for all debts and daily responsibilities related to running the company. However, a limited partner is in charge of raising money for the business. They are not going to be accountable for anything. A partnership in Taiwan will not be required to pay corporate tax because it is a tax-free entity. The partners must, however, submit their tax returns. After each fiscal year, the partnership must finish and submit the financial statement.

Branch Office - Branches have the same legal rights as domestic corporations, even if they aren't considered distinct legal entities. All of the branch office's debts are owed to the parent office. A foreign-owned corporation will run the branch. If the branch's office intends to hire foreign workers in the first year, which costs NT$5 million, the branch will not be able to have the minimum capital needed. 

Representative Office - A representative office is perfect for companies who want to confirm a minimum presence before investing in Taiwan. Although it's among the quickest and most effective ways to incorporate a business, it's not the most effective regarding operational choices. The application process is the only thing that is anticipated. As per Section 383 of the Company Act, the representative office application form must be filled out and, if necessary, translated into Chinese.

Taiwanese Free Zone Company - A subsidiary may be established in the Taiwanese Special Economic Zone by non-residents ready to launch a firm in the Export and import Origin. The only thing left is submitting an appropriate business plan to the SEZ Authority. If the person has sufficient resources and infrastructure, they can quickly obtain a Free Zone registration. The Free Trade Zones of Taiwan are ideally situated to offer quick access to the ASEAN nations. They are not subject to any of the many regulations that apply to generic firms. Clearance through customs is waived. It ought to be licenced to operate in the FTZ.

Annual reporting requirements

According to the Ministry of Finance's Taiwan Taxation Administration, owners of firms operating inside the jurisdiction must file yearly tax returns by May 31st, the end of the fiscal year. The filing of annual tax returns must include the tax payments for company tax liabilities. Taiwan businesses that follow the calendar year must pay interim income taxes to minimise taxpayers' overall tax liabilities. Penalties may also apply to taxpayers who neglect to file their yearly tax returns on time, depending on the severity of their non-compliance. Taxpayers who fail to comply with the regulations will be hit with a 20% penalty on their outstanding taxes, up to TWD90,000.

Various Taxes for Taiwan Company Registration

The income tax system in Taiwan is progressive, where the tax rate increases as income increases. The following tax structure must be adhered to for the different entities to register a company in Taiwan. Taiwan has a 20% corporate income tax rate plus an extra 5% tax on income over NT$120 million. Taiwan levies value-added tax at a rate of 5%. Speaking with a local tax expert is crucial to guarantee compliance with all applicable tax laws and regulations.

Perks of Registering a Company in Taiwan

There are several reasons why someone would choose to form a corporation in Taiwan; they are:

A robust economy and advantageous location - Taiwan boasts a highly trained labour force, advanced infrastructure, and a strong and stable economy. Due to its beneficial location in East Asia, Taiwan is a regional trade and business centre.

Favourable business climate and easy market access - Taiwan offers minimal taxes, a business-friendly atmosphere, and a relatively easy company registration procedure. Taiwan has free trade agreements with numerous nations and is a member of the World Trade Organisation, giving businesses access to many markets.

Access to Talent and Government Support - The government of Taiwan offers numerous incentives and assistance to foreign businesses looking to invest in Taiwan. Taiwan has much to offer Western companies wishing to grow into East Asia. Due to its educated labour population, Taiwan is a desirable destination for businesses seeking qualified workers.

Post-registration Support from Enterslice   

Providing market intelligence - Enterslice offers precise research studies on Taiwanese companies and broad industry data. Possesses prospective opportunities for business development in Taiwan and can address specific trade inquiries.

Business News - We've packed as much information as possible about upcoming projects and open bids. By enabling our service, you can get the Taiwan Business News to operate swiftly in a particular industry.

Promotional Activities - Among other things, we organise trade missions, networking gatherings, matchmaking, and social business outreach to assist businesses in becoming more competitive in the market.  

Troubleshooting - Enterslice offers assistance to businesses operating in Taiwan that are having particular issues. Please get in touch with us if you think we can be trusted to support you over every obstacle.

Our Four-Step Easy Process of Registration

Planning - Enterslice can advise you on the best business entity based on your objectives and activity. Following the planning phase, we will move on to incorporate your firm.

Incorporation - We will go ahead with incorporation and draft the business plan, articles of association, and other necessary legal Documents for the incorporation of a Taiwanese firm. 

Bank Account Opening - Our next task is to open a bank account for your newly formed business. You will receive the details of the bank account in four weeks. 

Staying Compliant - We give you the required accounting and tax services after completing the procedures to ensure you carry on your business lawfully. 

Is Taiwan a suitable location for a business startup?

The government of Taiwan places a high priority on foreign direct investments and has made Taiwan an inviting place for international businesspeople to conduct business. The country offers many alluring advantages to expedite and soothe the assimilation of global investors into the jurisdiction's economic landscape. Enterslice will answer any questions you may have while establishing your Taiwanese business. Furthermore, we assist you in thoroughly analysing the viability and practicality of conducting business in Taiwan. 

Foreign Exchange Controls

When traders and investors make more investments than a certain transaction threshold, the Central Bank of Taiwan enforces currency exchange. Both locals and visitors can open foreign currency accounts without requiring CBT's prior approval. Resident companies are free to distribute dividends to non-resident shareholders up to a predetermined amount. The resident Taiwanese corporation may freely receive sales proceeds from non-resident stockholders.

Our Commitment to Excellence

Reliable Professionals – From opening bank accounts to incorporating businesses in Jordan, our seasoned specialists produce outstanding outcomes supported by their vast experience and professionalism.

Excellent Service – At Enterslice, we’re dedicated to giving our customers exceptional service and ensuring that their financial demands are satisfied precisely and accurately. Our group of committed experts goes above and beyond to produce outstanding outcomes. 

Client-Centric Approach – To guarantee that you are always completely informed about the status of your application, our proactive team of specialists prioritises continuous and transparent communication. 

Continuous Improvement – Our services should continuously improve and evolve to be ahead of the curve. Our staff is committed to remaining current with industry trends so that we can provide you with creative solutions.

Document Required to Register Company in Taiwan

The following Documents are required for Taiwanese company registration:

• Certificate of reservation for the company name.
• Articles of Incorporation 
• Copies of the directors' and shareholders' identification Documents, such as passport or ID
• Seal of the company and the seal registration certificate.
• Documents related to capital verification, like a certificate or bank statement.
• If relevant, a business license or permit.
• Power of attorney if a representative is registering on behalf of the client.