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Company Formation
회사 설립 서비스 – 대만 [회사 설립요건]2020-05-19T16:11:03+09:00

Overview of Taiwan Companies

Overviews of Key Features

Overviews of Key Features

Taiwan is located at the heart of the Asia-Pacific region, which puts it in an advantageous position to make use of global production resources and marketplace.

Taiwan’s north is the world’s third-largest economy-Japan, its south is the 10 countries of the Association of Southeast Asian Nations and India. Taiwan’s east is the world’s largest economy-the US, and its west is mainland China-the world’s second-largest economy and the centre of the world’s economic growth. The average flying time from Taipei to the seven major cities (Hong Kong, Shanghai, Manila, Seoul, Tokyo, Singapore and Sydney) in Western Pacific is merely 2 hours and 55 minutes. And the average sailing time from Kaohsiung harbour to the 5 major Asia-Pacific harbours is merely 53 hours. Taiwan is the hub of Asian transportation and the logistic centre in the East-Asian region.

Taiwan has been ranked 1st in quality of life and the 2nd best place for expatriate overall in InterNations’ Expat Insider report for 2018.

GENERAL

Location of JurisdictionTaiwan – South East Asia
Official LanguageChinese Mandarin and Min Nan
Political StabilityExcellent
CRS joined countryYes
Tax on Offshore ProfitsYes
Disclosure of Beneficial OwnerYes, but Nominees may be used.
Submit Audited AccountsAudit for financial statements is required if the company’s capital exceeds NTD$30,000,000; audit for tax filings is required if the company’s annual revenue exceeds NTD$30,000,000 or the company want to enjoy the loss carry forward benefit
Time to Incorporate2~3 months

CORPORATE

Type of Offshore CompanyLimited Company
Type of LawCompany Act
Allowed Business ActivitiesAn entity-level certificate/license may be required for certain regulated business (e.g. financial institutions, construction)
Local Registered Office/ Agent RequiredYes
Change of DomicileYes
Shelf companies AvailableYes
Language of DocumentsChinese
Name of CompanyChinese
Corporate SealA metal corporate seal is mandatory

DIRECTOR

EligibilityAny person or company of any nationality
Minimum Number of Directors1(individual and nobody corporate)
Disclosure to Authorities & PublicYes
Residence RequiredMay reside anywhere
Local Director RequiredNo
Location of MeetingsAnywhere

COMPANY SECRETARY

Secretary RequiredNo

SHAREHOLDERS

Minimum number of shareholders1
Maximum number of ShareholdersUnlimited; but no more than 50 shareholders for a close corporation
EligibilityAny person of any nationality or body corporate
Disclosure to Authorities & PublicYes
Annual General MeetingsRequired
Location of MeetingsAnywhere

SHARES

Minimum Number of shares1
Maximum Number of sharesUnlimited
Bearer Shares PermittedNo
Classes of shares permittedOrdinary shares, preference shares, redeemable shares and shares with or without voting rights.

SHARE CAPITAL

Permitted currenciesNTD
Minimum paid-up share capitalNTD$1 (if the business entity engages in activities that require a special permit or approval, the authorities may set a higher capital requirement)
Maximum share capitalUnlimited, but government charge of NTD$1 for every NTD$4,000 in share capital over NTD$4,000,000
Recommended share capitalSufficient to pay for initial operating expenses
The requirement to be paid upYes (capital needs to be examined and certified by a local CPA)

Restrictions on Name and Activity

Investors should first select a Chinese name for the company that they will be setting up in Taiwan. The company that they set up must then file an application for pre-review of the company name and business scope as well as to retain the company name during the pre-review period with the Central Region Office. Certain words which suggest specialist activity can only be used when the appropriate licenses have been obtained (e.g. asset management, construction, bank).

Financial Statement Requirements

Annual audited financial statement is required only if the Taiwan company’s paid-in capital is in excess of NTD$30,000,000 or the business is under certain regulated industries (e.g. bank, listed company). In these cases, an appointed auditor is required, who must be a member of the Taiwan Society of Accountants and hold a practising certificate. Taiwan companies must keep accounting records, which may be kept at the registered office address or elsewhere at the discretion of the directors.

Annual Filings/ Requirements

Filing of Income Tax Return (annually)
Filing of Value-added Tax Return (bi-monthly)
Filing of Withholding Tax Return (monthly and annually)