Taiwan Company Formation
- The island of Taiwan defends the status of an independent state.
- Businessmen are attracted by the largest exhibitions and forums.
- Time of Indonesia company formation takes 10-20 days (For foreign investors: 30-45 days).
Popular company type:
- Limited Liability Company (LLC)
- Company Limited by shares
Tax Rates in Taiwan
Corporate tax: 20%
Income tax: depends on amount of income from 12 to 40%
Region: The eastern part of Taiwan is washed by the Pacific Ocean, while the southern and northern parts are washed by the South China and East China Seas
Currency: Taiwanese dollar (TWD)
Time Zone: GMT+8
Dial Code: +886
What we can do for your Company in Taiwan
- We do all paperwork on forming the company in Taiwan
- Formation is completely remote
- Can act as Secretary or Treasury
- Provide nominee Directors/Shareholders
- Assist with opening a bank account
- Registration for Taxes, VAT & EORI
- Develop a website for your business
- Create a logo of your brand
- Provide with full company administration services
- Arrange a mailing address for your business
- Arrange a virtual office for your company
- Telephone answering service
- Book keeping, audit & reporting
- Preparing and submitting VAT return
- Dealing with local authority
- Trademark registration
Taiwan Company Formation. Taiwan Limited Company registration
Main Characteristics and the basic rules of Company registration in Taiwan.
The economic advantages of Taiwan
- Taiwan has come a long way to become one of the best places to do business.
- Now the country belongs to the group of states with a predominantly free economy.
- A competitive corporate tax rate.
- No minimum capital requirement for company registration.
- High reputation of local business partners.
- A fairly large domestic market, as well as the island’s territorial location in the center of world logistics routes.
- The attractiveness of Taiwan as a place for testing new products, establishing useful business contacts.
- Taiwan is a member of the Asian Development Bank, the World Trade Organization and the Asia-Pacific Economic Cooperation.
- The state has concluded agreements on avoidance of double taxation with a number of countries.
LEGAL FORMS IN TAIWAN:
Limited Liability Company (LLC)
- A company can be registered by 1 shareholder and 1 director, who can be a non-resident.
- There is no requirement to pay the share capital.
- Company registration is approved and made by the Ministry of Economy.
- Before registering a company, you must open an account in Taiwan, to which the paid capital must be deposited.
- Before approving the opening of an account, the movement of capital.
- Foreign directors and their signatories must be personally present in a Taiwanese bank.
- Most foreign investors prefer to set up an LLC in Taiwan as it is the best option due to the flexibility and low administrative requirements.
Limited Company – limited by shares.
- Company limited by shares.
- The number of shareholders of a limited liability company is at least two or more, and at least two shares must also be issued.
- The shares of the company can be transferred to third parties, but the founders of the company are not allowed to transfer their shares during the first year from the date of the company’s incorporation.
- The board of directors of the company consists of at least one observer and three directors. Half of the members of the Board of Directors must be residents of Taiwan. The director, manager, head of the company is a responsible person and is responsible for the day-to-day activities of the company.
- The company is required to maintain complete financial statements.
Taiwan Free Zone Company.
- FZE company is most desirable by foreign investors who plan to register export-oriented enterprises, it is preferable for them to register a subsidiary in a special economic zone (FZE).
- Upon registration, the director must submit a business plan to the management of the FZE.
- While there is no official minimum investment requirement, US$200,000 must be set aside for the paid-in capital of their Taiwanese free zone company.
- This type of company is most suitable for investors who rely on large investments and export a significant percentage (more than 75%) of their products abroad.
For complete information and advice, you can contact BRIS GROUP team.
This publication is provided for information purposes only. This info should not be treated as a substitute for a tax or legal consultation or legislation. You should not act on the basis of the information contained in this publication without having obtained individual advice from the professional expert.
BRIS GROUP does not assume responsibility for any damage resulting from decisions made by the reader on the basis of this publication.