Our Taiwan company formation specialists can assist foreign investors with every step required to set up a limited liability company (LLC)in Taiwan.
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What are the steps to open a limited liability company in Taiwan?
Any foreign investor needs to complete the following steps in order to set up an LLC here:
- reserve the company name and business scope;
- apply for foreign investment approval, where required;
- prepare for incorporation documents;
- secure a registered officein Taiwan;
- open a preparatory bank account and transfer the share capital;
- have the capital verified by a CPA;
- submit the company registration application and complete the required tax and business registrations.
Our Taiwan company formation specialists can coordinate these procedures and assist foreign investors throughout the registration process.
What documents are needed to open an LLC in Taiwan?
Depends on the shareholders and business activity. Usually, you will need:
- company name reservation approval;
- company registration application;
- foreign investment approval and proof of capital remittance;
- Articles of Incorporation;
- identification documents for the shareholders, directors and managers;
- certificate of incorporation if a shareholder is a foreign legal entity;
- documents proving the company’s registered address;
- CPA audit report;
- special business license or approval, where requested.
If you want our local agents to handle the incorporation process, we will also need a power of attorney.
What information must be included in the Taiwan LLC registration application?
When applying to register a limited liability company, you will have to complete a set of documents. One of them is the Application for Establishment (Change) Registration of Limited Company.
A bilingual form with an English translation of the Chinese fields is available, but the registration data must be completed in Chinese. Foreign investors can rely on our team of consultants incompany registration in Taiwan for assistance with the application.
The form includes details such as:
- information about the applicant;
- company name;
- company location;
- representative;
- agent contact information.
The form also allows the applicants to request a Business Certificate Primary Card.
What are the requirements for opening a limited liability company in Taiwan?
If you want to open a limited liability company in Taiwan, you must be aware that you need to fulfill all the conditions in the list below, presented by our team of specialists in Taiwan company formation.
- prepare the company’s statutory documents, including the Articles of Incorporation, which must be signed or sealed by the shareholders;
- you must find a suitable location (virtual office) where your company can have its registered business address and receive official correspondence;
- you must also decide on the company’s scope of business and include it in the company’s statutory documents;
- all companies in Taiwan must have a trading name and investors will have to search for one that is not already taken by another business;
- companies must also have a company seal, which must contain the company’s name;
- investors or our team of consultants in company registration in Taiwan must contact a local commercial bank for opening a corporate bank account.
Can a foreigner open a limited liability company in Taiwan?
Yes, foreign individuals can establish an LLC here. There is no general requirement for the shareholders or directors to reside in Taiwan.
Foreign investors generally need to obtain foreign investment approval from the Department of Investment Review under the Ministry of Economic Affairs before completing the company registration.
What is the management structure of a Taiwanese limited liability company?
The management of a limited liability company in Taiwan is relatively simple. The limited liability company will need at least one shareholder.
Please mind that the local commercial legislation allows for a limited liability company to have a shareholder who can be a natural person, or a shareholder who is a corporate entity. There is no general Taiwan residency requirement for shareholders or directos. Then, in order to open a company in Taiwan, the management structure must include at least one director.
The director is responsible for managing the company’s business operation and representing it externally. A limited liability company can have between one and three directors. Our lawyers in Taiwan can present more details on other characteristics.
A Taiwanese limited liability company is not required to appoint a company secretary. Besides the management structure of the company, the company must arrange for its accounting affairs to be handled by qualified personnel or an authorized accounting professional.
The director of the company is elected by the company’s shareholders. The appointment requires the approval of at least two thirds of the voting shares of all shareholders.
What is the minimum share capital for an LLC in Taiwan?
There is no general minimum share capital requirement for opening this type of company in Taiwan. The invested capital should be sufficient to cover the expected costs of starting and operating the business.
Certain regulated industries may be subject to specific capital requirements. For example, travel agencies in Taiwan must meet minimum paid-in capital requirements ranging from NT$3 million to NT$30 million, depending on their category.
Does an LLC in Taiwan need a registered office?
Yes, you must have a registered office in Taiwan, as the company’s legal domicile is the location of its head office. The address is used for company registration, tax purposes and official correspondence.
Our Taiwan company formation specialists can assist with the registered office requirements and the whole incorporation process.
Contact us if you want to open a Limited Liability Company!