Understand the Jurisdictions Setup Requirement Before Proceed Your Company Registration in Taiwan
Amongst the Four Asian Tigers, Taiwan has always presented itself as an ideal investment destination for companies and investors interested in dealing with electronics- especially computer-related products. It is the world’s largest producer of computer-related goods. Additionally, it has an extensive network of well –established industrials zones, including high-tech industry clusters. These make it absolutely rife for IT investments. The quality of human resources in Taiwan is also exemplary and investors will not have to worry about getting foreign workers to employ in their new companies. These are just but a few of the factors that make company registration in Taiwan appeal for a majority of foreign investors.
Entities for Doing Business in Taiwan
Foreigners with intentions of doing business in Taiwan have a variety of legal entities they can register. All you have to do is analyze the type of business you are interested in, taking into account your capital and business goals.
You can then choose the most appropriate legal business type that will be ideal for your business goals. If you are not sure of what entity to go for, business formation experts at 3E Accounting can always help you out. With that said, here are some of the business entities that investors interested in company registration in Taiwan may consider:
Taiwan Limited Liability Company
A limited liability company is usually the most preferred business entity for those who want to start new ventures in the country. To register an LLC in Taiwan, one shareholder and one director will be required. Both don’t have to be residents of Taiwan. There are no minimum paid-up capital requirements for registering an LLC in Taiwan. However, we recommend that investors should have at least $3,400. This will increase the chances of timely registration and approval by the Ministry of Economic Affairs.
Taiwan Limited Partnership
A limited partnership in Taiwan can be registered by at least two partners: a general partner and a limited partner. A general partner will be personally liable for all the liabilities and the day to day obligations of running the business. A limited partner, on the other hand, will be responsible for availing capital for the business.
They will not be liable for any liabilities. As a transparent tax entity, a partnership does not pay corporate taxes in Taiwan. The partners must, however, submit personal income tax returns. The partnership also needs to prepare and file its financial statements at the end of every fiscal year.
Taiwan Free Zone Company
Free zone companies in Taiwan are ideal for foreigners considering establishing an export-oriented business. Taiwan has several economic free zones which both local and foreign investors may consider for investments.
To start a free zone company in Taiwan, the investor must submit a business plan to the Special Economic Zone Authority and get approval before they can commence with the company registration in Taiwan. There is no minimum investment required, but we highly recommended a capital of at least $200,000 to enable faster registration and approval of the company.
Branch Office in Taiwan
It is also possible for foreign companies to establish branch offices in Taiwan when they are considering to start operations in the country. With a branch office, however, there has to be a local agent or a branch manager in Taiwan. Branch offices are ideal if you wish to operate in regulated industries such as banking and finance.
Representative Office in Taiwan
Foreigners can also start a representative office, but their scope of operations will be limited to non-commercial activities. It is ideal for carrying out market research, research, and development, or brand marketing. Branch offices are not allowed to engage in any revenue-generating activity in Taiwan.
How We Can Help You
At 3E Accounting, we specialize in offering quality services for business incorporation and company registration in Taiwan. We have a highly experienced team of company formation executives, including lawyers, accountants and tax experts who will help you with every process of the registration. 3E Accounting knows the requirements needed to incorporate any entity. We also know the procedures you need to take for faster incorporation. Though you may choose to go the entire process on your own, we have the skills, resources and the experience you need for faster registration. Contact us today, and let us make the process of registering your business in Taiwan a hassle-free one.
