Once company registration in Taiwan is completed, opening a bank account in 2026 is a step that will allow the business to manage multi-currency transactions, gain access to financing and loan services, and other international trade solutions.
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What are the steps for opening a bank account in Taiwan?
The following steps listed below by our team of consultants are relevant to those who open a bank account in Taiwan:
- research the available banks: the options are varied and those looking to open a corporate bank account in Taiwan should be informed;
- prepare the documents: our team can help you gather the documents requested by the chosen bank;
- schedule a meeting: the bank account opening process is not fully an online one in most cases;
- receive the approval: once the bank checks the application file it will open the account;
- final details: after the activation of the account the holder will be able to choose additional services such as special lending options (if necessary), online or mobile banking options, and others.
Those who open a company in Taiwan that qualifies as a small or medium-sized enterprise (SME) can have access to preferential services, special packages tailored to the needs of a SME, or other solutions.
What documents are needed to open a company bank account in Taiwan?
Local companies will usually have to provide the following documents:
- business registration certificate;
- tax registration number;
- legal representative’s identification documents;
- proof of shareholding or details about the shareholders;
- company seal;
- company registration form or approval letter.
Foreign companies will provide much of the same information that concerns the parent company abroad (such as the foreign company’s certificate of registration).
How can an individual open a bank account in Taiwan in 2026?
The bank asks the applicant to provide a set of documents for the purpose of creating a bank account. Foreign nationals living in Taiwan will be asked to provide their alien resident certificate along with their identification document, such as their passport.
Other required documents include proof of residence address in Taiwan and proof of employment (the source of the funds). Depending on the chosen bank the individual will also need to submit an initial deposit.
Common types of bank accounts available for individuals are the current account and the savings account. As part of the consumer banking offer in Taiwan individuals have access to housing and consumer loans as well as credit cards.
What should businesses consider when choosing a bank in Taiwan?
Before you start the application process to open a bank account in Taiwan, you will need to choose one of the available banks regulated by the Financial Supervisory Commission, Taiwan’s main financial supervisory authority.
This choice can depend on the bank’s advantages for foreigners, current fees, number of branches, and other criteria, such as:
- whether or not the bank deals with foreign-owned companies;
- the documents requested for corporate clients;
- availability of multi-currency accounts;
- fees for local and international transfers;
- online and mobile banking options;
- the number of branches and the availability of English-speaking support;
- minimum deposit or balance requirements;
- the bank’s experience with international trade or cross-border payments etc.
For companies with foreign shareholders, it is also important to see if the bank accepts an authorized representative, or if the bank needs the legal representative present in Taiwan, as well.
Our Taiwan company formation agents can help investors to compare options while preparing the file for the requirements of the selected bank.
FAQ
In many cases, the legal representatives need to be present in Taiwan for this procedure. Some banks may allow part of the process to be handled remotely, but this depends on their internal rules.
It usually takes a couple of weeks depending on which bank one chooses, how the company was structured and if necessary documents can be submitted and approved soon. In some complex cases, this procedure can extend to several months.
Usually, bank accounts in Taiwan are opened in Taiwan dollars, but many banks allow transactions in foreign currencies such as USD and EUR.
The application can be rejected if the documents are incomplete, the source of funds is unclear or the bank considers that its compliance requirements are not met.
Yes, some banks may require a minimum initial deposit. The amount depends on the chosen bank, the type of account and whether the account is opened for an individual or a company.
If you require assistance with opening a bank account in Taiwan in 2026 please contact our company formation agents.