Short Guideline on Taiwan Company Registration for Both Local and Foreign Investors
Are you an aspiring investor in any sector and plan to incorporate a company in Taiwan? Now is the right time as Taiwan company registration is straightforward and simple. But in any case, you’ve limited time to go through the process. Well, you can consult 3E Accounting and get assistance. 3E Accounting has its domicile in Singapore and now spread across the world will assist you in several business solution services:
- Accounting and taxation services
- Human resource services
- Legal and auditing services
- Business license renewal
- Corporate secretarial among others
Set foot at their offices or visit their website for further information about company registration.
What to Do?
The process of Taiwan company registration begins with the proposal of the company name and approval. The Department of Commerce of the Ministry of Economic Affairs (MOEA) is in charge of verification and reservation of your proposed company name. In case of a foreign investor, you can involve an appointed agent who should be a Taiwan resident once you have a Point of Attorney. The Company Act also requires you to get a validation of a foreign investment from the Ministry of Economic Affairs Investment Commission (MOEAIC). You’ll be required to present some of the following documents:
- A copy of your passport
- The original copy of the Point of Attorney
- The Identification of the hired agent
- A copy of a preliminary check of the company’s proposed a name.
After that ensure that you notarize all your valid documents, foreign investment approval with the Taiwan Economic & Office Culture. It’s a requirement that all the documents be translated into Chinese before submission. The moment the Department contends with the documentation, the authorities issue the Certificate of incorporation.
Requirements to Fulfill
Taiwan company formation requires tax registration for corporate tax, VAT with the Taiwan Taxation Bureau. The moment the Bureau approves it, you’ll then issued with a Certificate of business registration. The issuance of the tax identification card makes you eligible to open a corporate bank account. But in Taiwan, you will be required first to open a Preparatory Bank Account which will serve as a temporary bank account to deposit the capital amount. If in any case, you do not possess an Alien Resident Certificate (ARC), you’ll have to acquire a Records ID to be able to open a bank account. 3E Accounting is out there to assist you in the process of documentation if you feel obliged to seek their services.
Some of the legal documents that you need to submit to Taiwan company registration include the following:
- A lease agreement of the company
- Identification documents of all the directors and shareholders
- Authentic Identification documents of the local agent
- The consented minutes of shareholders and directors
For a Limited Liability company, you’ll need to have a minimum of one shareholder and one director. Besides that, you must register your business with the Council of Labor Affairs and the National Health insurance, Pension Plan and Labor Insurance with the Bureau of Labour Insurance.
Contact us if you need help in any business solution services.