Frequently asked questions

Establishment

What kind of entity is best for me, if I am not selling in Taiwan ?


Establishing a representative office is the easiest and fastest option for foreigners not conducting sales activities in Taiwan.




Is there minimum capital requirement ?


No, there is no minimum capital requirement. However, if the company/branch wishes to hire foreigner, the minimum capital is TWD 500,000 to hire a foreign executive officer, or TWD 5,000,000 to hire techinicians.




Do I need to go to Taiwan to open my business ?


Yes, normally the representative of company or branch manager of a branch needs to come to Taiwan to open bank account and sign an acknowledgement letter in tax office in person.




When establishing a company, which documents need to be notarize ?


A power of attorney appointing a CPA to file applicaton on your behalf needs to be notarized.




When establishing a branch, which documents need to be notarized?


None, but the authority reserve the right to notarize company certificate of company shareholders.




When establishing a company, where to notarize documents ?


Notarization can be done by government agency, court, notary public or Taipei Representative Office in your country.




When establishing a representative office, which documents need to be notarized?


None, but the authority reserve the right to notarize company certificate of company shareholders.




What can a representative office do?


A representative office can participate in signing agreements, bidding, quoting, purchasing and price negotiation.




Can you open bank account for us?


No, because of anti-money laundering regulations, the bank need to verify bank owners identification. The verification normally need your presence in the bank. In some exceptions, the bank might accept verifications through overseas branch of the bank in your country.




Do I need to have bank accounts to open my company or branch ?


Yes, the company or branch need to have bank account to receiive registered working capital.





Work permit

Can a company/branch apply work permit for its executive officer ?


A company or a branch could apply for one work permit for its executive officer, if 1、Established within one year and capital exceeds TWD 500,000. OR 2、Established over one year and annual turnover exceeds TWD 3,000,000




Can a company/branch apply work permit for its employees?


A company or a branch could apply for employees, if 1、Established within one year and capital exceeds TWD 5,000,000. OR 2、Established over one year and annual turnover exceeds TWD 10,000,000 ** Foreign employees need to meet edcuation degree and experience requirements.




Can a representative office apply work permit for its employees?


Yes, a representative can apply work permit for its representative.





Social benefits

What are social benefits for employees in Taiwan ?


Social benefits in Taiwan include the following, 1、Health Insurance 2、Labor Insurance 3、Pension




Is there exemption for labor insurance ?


Yes, enterprises with less than 5 employees can opt to exempt from labor insurance.





Income tax


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