Effortlessly incorporate and manage your company in Taiwan with Vepapu—offering all-in-one services from registration to compliance, banking, and visa support.
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Unlock Growth Opportunities in an Emerging Market
Reduced operational costs, including labour, rent, & overheads.
Simplified compliance requirements and regulatory processes.
A large and young population provides a dynamic workforce.
Allows for foreign shareholding up to 100% in the company.
Everything You Need for Seamless Company Formation
Experience seamless company formation from anywhere with Vepapu. Our digital incorporation services ensure you can register your company online without the need to travel or submit paperwork in person.
We guide you through each step of the process, ensuring compliance with local regulations and providing support for any incorporation-related queries.
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Meet the local requirements online with Vepapu. Having a local registered office address is mandatory for your company's registration and we will help you meet this requirement. We will receive, scan, and email you if any mail is received from the authorities at your address.
You can also build a physical presence in the country by opting for our nominee director services, who will act as your company's director while you retain total control over your company.
You can capitalise on our strong banking relationships with traditional banks as well as digital-first banking providers.
You would need to physically visit the bank's location if you opt for a traditional brick-and-mortar bank, while modern digital banking providers welcome you with an online onboarding process.
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Leverage Vepapu’s expertise to navigate the visa application process for your business needs. Whether you require work visas for your team or investor visas to secure your investment rights, we facilitate the entire process.
Our services include comprehensive guidance on meeting eligibility criteria, preparing necessary documentation, and submitting applications efficiently to minimize wait times and complications.
Complex legal requirements after company formation might make you feel overwhelmed. But no worries with Vepapu.
Vepapu helps your business maintain good standing with local laws. We provide timely updates and assistance with regulatory changes, ensuring you always have a reliable partner at your side.
Focus on growing your business while we handle and notify you of upcoming compliance deadlines, keeping you ahead and stress-free.
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Simplify your bookkeeping with Vepapu. We keep your records meticulous and audit-ready.
We handle your tax filings accurately and on time, ensuring full compliance.
Streamline payroll and ensure compliance with employment laws using Vepapu.
We ensure timely and accurate submissions for all your periodic government filings.
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Handle board and shareholder changes effortlessly with Vepapu. We streamline all your essential corporate paperwork, ensuring quick and compliant updates.
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Mandatory documents and information required for your company formation
A certified true copy (scanned version) of the passport (valid for at least 6 months)
A comprehensive Curriculum Vitae (C.V.), Resumé, or Linkedin profile.
One of the scanned copies of a bank reference, bank statement, Utility bill, or Driver license.
It should clearly show the holder's full name along with a physical address written in English (P.O. Box addresses are not accepted).
It must be the most recent version and dated within the last 3 months.
Please provide us with certified true copy (scanned version) of the following company documents:
Certificate of Incorporation
Memorandum and Articles of Association / Constitution
Register of Director
Register of Shareholder / UBO
Extract of the company’s details from the Registrar of Companies, which can include any of the following: Business Profile / Certificate of Incumbency / Certificate of Good standing (valid for within 6 months if any).
All members of the corporation, including Directors, Shareholders, Ultimate Beneficial Owners (UBOs), and Contact persons, must provide identity and address proofs as mentioned above.
From Paperwork to Approval: Making Company Formation Fast and Straightforward
Click here and fill out the short form to let us know your requirements.
Afterwards, our team will get in touch with you to guide you through the process.
Begin the company incorporation process by sharing the requested documents, as listed here. This enables us to begin the mandatory KYC and due diligence procedures to comply with local and international laws.
During the process of due diligence, our team might request additional information, documents, or clarification as needed.
If you ever feel lost while organising the documents, please contact us, as your dedicated manager from Vepapu will guide you through it.
Our team will now have the required information and documentation in hand to proceed with completing the required paperwork involved in incorporating your company.
We will complete one or multiple application forms as required and coordinate with the registry to submit them for their official approval.
We will do timely follow-ups with the registry and actively work with them if they require any further clarification or documentation before their approval.
If there are any other registrations with different government departments that are generally required before commencement of any business, required for your specific business industry, or that you have chosen voluntarily, we will promptly complete them.
As Vepapu strongly believes that company incorporation is just the first step in any business journey, we will accompany you throughout your business's life cycle by keeping it in good standing with local rules and regulations.
We will take care of monthly, quarterly, bi-annual, or annual reports and return filings with the authorities. We will timely inform you of the upcoming compliance deadlines, such as conducting an annual general meeting, for your prompt action.
Get in touch and ask us anything. We'd love to help.
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A Limited Liability Company (LLC) in Taiwan is a popular choice for foreign investors due to its flexibility and limited liability protection. The shareholders' liability is limited to the amount of their capital contribution, making it a low-risk option. An LLC requires a minimum of one shareholder and one director, and it can be 100% foreign-owned. This structure is ideal for small to medium-sized enterprises looking to operate in Taiwan.
A Branch Office in Taiwan is an extension of a foreign parent company and is not a separate legal entity. This means that the parent company is fully liable for the branch’s obligations and debts. Branch Offices are typically used by foreign companies that want to conduct business in Taiwan without establishing a completely separate entity. The setup process is relatively straightforward, but it offers less operational flexibility compared to other business structures.
A Representative Office in Taiwan is a non-trading entity that serves as a liaison between the foreign parent company and local clients or partners. It cannot engage in profit-generating activities, such as sales or manufacturing, but it can conduct market research, promote the parent company, and oversee its activities in Taiwan. This structure is ideal for companies looking to explore the Taiwanese market before committing to more substantial operations.
Yes, foreigners can incorporate a Limited Liability Company (LLC) in Taiwan, which is the most common business structure for foreign investors. This type of company allows for 100% foreign ownership across most industries, providing flexibility and control to foreign entrepreneurs. Taiwan has implemented several regulatory reforms in recent years, simplifying the incorporation process and offering incentives to attract foreign investment. These improvements have significantly enhanced Taiwan's appeal as a business destination, particularly for those looking to establish a presence in East Asia.
Foreigners who incorporate an LLC in Taiwan enjoy the same benefits as domestic companies, including full ownership and control over their business operations. The LLC structure also provides the option to sponsor work permits for foreign employees, including directors, making it easier to bring in necessary expertise. Taiwan consistently ranks highly in the World Bank’s Doing Business Report, reflecting its favorable business environment, streamlined regulatory framework, and strong legal protections. These factors, combined with a stable economy and supportive government policies, make Taiwan an attractive location for foreign investors seeking to expand in the region.
In a Taiwan LLC, at least one director is required, and this individual can be of any nationality, offering flexibility for foreign investors. There are no restrictions on appointing nominee directors, which can be advantageous for those who wish to maintain privacy or manage the business remotely. Additionally, corporate directors are allowed, meaning another company can be appointed as a director. However, it’s important to note that at least one director must either be a resident of Taiwan or have an authorized legal representative based in Taiwan. This ensures that the company has local representation for regulatory and operational purposes.
A Taiwan LLC can be established with just one shareholder, providing simplicity and flexibility in ownership structure. There are no restrictions on the nationality of shareholders, allowing the company to be entirely foreign-owned. Nominee shareholders are also permitted, which can be useful for those who prefer not to disclose their identity publicly. Furthermore, corporate shareholders are allowed, enabling other companies to hold shares in the LLC. This structure supports a wide range of ownership configurations, catering to both individual investors and corporate entities.
During the incorporation process, foreign investors may need to appoint an investment agent, particularly if they are not residing in Taiwan. The investment agent, typically a resident of Taiwan, acts as a representative to manage the legal and administrative aspects of setting up the business. This role is crucial for ensuring that the incorporation process complies with local regulations and proceeds smoothly. The investment agent’s responsibilities may include submitting necessary documents, liaising with government agencies, and handling official correspondence on behalf of the foreign investors.
Taiwan does not impose a minimum share capital requirement for most industries, offering significant flexibility for business owners. The share capital can be set according to the specific needs and financial capabilities of the business, and it must be fully paid up upon incorporation. This capital can be in any freely convertible currency, which is particularly advantageous for foreign investors. The absence of a minimum capital threshold reduces the financial burden on new businesses, making Taiwan a more accessible market for startups and small to medium-sized enterprises.
A physical office address in Taiwan is mandatory for registering an LLC. This registered address is essential for legal correspondence and must be maintained throughout the company's existence. The office can be a commercial property or a virtual office, as long as it meets the regulatory requirements set by Taiwanese authorities. This requirement ensures that the company has a tangible presence in Taiwan, which is necessary for conducting business and interacting with local government agencies. Having a local address also helps in establishing credibility and trust with clients and partners in the region.
To incorporate a company in Taiwan, you need to prepare and submit various documents. These documents are essential to comply with Taiwanese regulations and ensure your business operates legally. The documents will be used in KYC due diligence procedures, application preparation, and document submission to the authorities.
To incorporate a company in Taiwan, especially if you are a foreign investor, here’s a step-by-step guide that outlines the process:
Step 1 - Company Name Reservation
The first step in incorporating a company in Taiwan is to reserve a company name. You must choose a name that is unique and not already registered. The name must be in Chinese, and you can submit your application for reservation either online or through a physical application to the Ministry of Economic Affairs (MOEA).
Step 2 - Foreign Investment Approval
After reserving the company name, you must apply for foreign investment approval from the Investment Commission of the MOEA. This involves submitting various documents, including a detailed business plan that outlines the nature of your business, financial forecasts, and the source of your capital. This step is crucial as it confirms your eligibility to set up a foreign-owned entity in Taiwan.
Step 3 - Opening a Preparatory Bank Account
Once you have received investment approval, the next step is to open a preparatory bank account with a local bank in Taiwan. You need to deposit the initial capital into this account. The capital must be transferred from an overseas account, and the currency should be in a foreign denomination like USD or EUR. This capital is then verified by a local certified public accountant (CPA), who will audit the transaction to ensure compliance with Taiwanese regulations.
Step 4 - Company Registration
After the capital has been verified, you can proceed with the official company registration with the MOEA. This involves submitting the required documents, such as the Articles of Incorporation, the company’s organizational structure, and proof of capital verification. Once approved, you will receive a registration certificate that includes your company’s registration number, officially recognizing your business as a legal entity in Taiwan.
Step 5 - Tax Registration
Following company registration, you must register for taxation with the National Taxation Bureau. This step typically involves an interview with a tax officer, during which you must present documents such as the company’s registration certificate, office lease agreement, and other related documents. Once this is completed, your company will be issued a tax ID, allowing you to commence business operations.
Step 6 - Opening an Official Bank Account
The final step is to convert your preparatory bank account into an official corporate bank account. This requires submitting all the company’s registration documents and passing a due diligence process conducted by the bank. Once the official account is set up, you can begin utilizing the capital for your business activities in Taiwan.
After incorporating a company in Taiwan, there are several ongoing compliance requirements that businesses must adhere to. These requirements ensure that the company operates within the legal framework and maintains good standing with the authorities. Here are the key compliance obligations:
Companies in Taiwan are required to hold an Annual General Meeting (AGM) within six months of the end of their fiscal year. During the AGM, shareholders must approve the financial statements, discuss the company's performance, and make decisions on key matters such as the distribution of profits. Minutes of the AGM must be documented and filed as part of the company’s records.
Companies must submit their annual financial statements to the Ministry of Economic Affairs (MOEA). These financial statements, which include the balance sheet, income statement, and cash flow statement, must be audited by a certified public accountant (CPA) if the company exceeds certain thresholds, such as having paid-in capital over a specific amount or being listed on the stock exchange.
Taiwan requires companies to file various tax returns, including corporate income tax, value-added tax (VAT), and withholding tax returns. Corporate income tax returns must be filed annually, within five months after the end of the fiscal year. VAT returns are typically filed bi-monthly, while withholding tax returns depend on the nature of the transaction but must generally be filed within 10 days of the payment.
Employers in Taiwan must contribute to their employees’ labor insurance, national health insurance, and pension funds. These contributions must be made monthly and reported to the relevant authorities. Employers are also responsible for withholding and remitting income tax on behalf of their employees.
Any changes to the company’s registration details, such as changes in directors, shareholders, registered address, or business scope, must be reported to the MOEA. These changes typically require an official filing, and some may necessitate additional documentation or approvals.
Companies with foreign investment or those involved in significant cross-border transactions must comply with Taiwan's foreign exchange regulations. This may include reporting foreign currency inflows and outflows to the Central Bank of Taiwan and ensuring that foreign exchange transactions comply with local laws.
Foreign investors and employees looking to work or establish a business in Taiwan have several visa options depending on their specific needs and roles within the company. Here are the key visas available:
The Entrepreneur Visa is designed for foreign nationals who want to start a business in Taiwan. To qualify, applicants typically need to demonstrate a solid business plan and sufficient financial resources. Additionally, the business must align with Taiwan’s economic development goals, often focusing on innovation, technology, or specific priority sectors. This visa is particularly advantageous as it allows the entrepreneur to reside in Taiwan while setting up and managing their business.
The Type A Work Permit is the most common type for foreign professionals working in Taiwan. Employers must meet certain criteria, such as having annual sales of at least NTD$10,000,000 (or NTD$5,000,000 for newly established companies or branches) or providing business proof for representative offices. The employee must hold a master’s degree or a bachelor’s degree with at least two years of relevant work experience. Additionally, the employee's salary should be around NTD$48,000 or more per month. This permit is essential for professionals seeking to work in Taiwan in roles that require specific qualifications.
The Type B Work Permit is specifically for foreign individuals appointed as responsible managers in a company. Each business entity is allowed to apply for this permit for only one responsible manager. The employer must meet requirements such as having annual sales of NTD$3,000,000 or more (or NTD$500,000 in capital for newly established entities) and providing proof of business activities for representative offices. Notably, there are no specific educational or salary requirements for the employee, making it a flexible option for foreign managers.
The Gold Card is a relatively new work permit aimed at attracting top talent with special expertise. Unlike other work permits, there are no specific employer requirements. However, the employee must possess special expertise as recognized by the Ministry of Labor or other central authorities. Additionally, the employee must have a monthly salary of NTD$160,000 or more, either currently or within the past three years. This permit not only allows the holder to work in Taiwan but also provides significant flexibility, including the ability to work for multiple employers or start a business.
Taiwan's tax system is governed by the National Taxation Bureau, which falls under the Ministry of Finance. Companies incorporated in Taiwan are subject to taxation on their global income, regardless of the location of their headquarters or the source of their income. The key tax rates applicable to companies in Taiwan include:
Corporate Income Tax: 20%
Branch Tax: 20%
Value-Added Tax (VAT): 0-5%
Corporate Income Tax
Taiwan imposes a 20% corporate income tax on the net income of companies that are considered residents in Taiwan. This includes both domestic companies and subsidiaries of foreign companies operating in Taiwan. A company with its head office in Taiwan is treated as a resident and is therefore taxed on its worldwide income. However, a branch office of a foreign company, while not considered a resident, is still subject to the same 20% income tax rate but only on income sourced within Taiwan.
In certain cases, an alternative minimum tax (AMT) may apply. The AMT is intended to ensure that companies pay a minimum level of tax regardless of deductions or exemptions. Additionally, a 5% surtax is imposed on undistributed profits. This surtax is designed to encourage the distribution of profits to shareholders, thereby preventing companies from deferring tax obligations by retaining earnings.
The VAT rate in Taiwan ranges from 0% to 5%, depending on the type of goods or services provided. Standard VAT rate is 5%, but certain transactions, such as exports, may be subject to a 0% VAT rate. Companies engaged in the electronic supply of services (ESS) to domestic customers, whether B2B or B2C, may also be subject to VAT, and such income may be taxable in Taiwan.
Branch offices of foreign companies in Taiwan are subject to the same 20% tax rate as domestic companies. However, branches are not subject to the 5% surtax on undistributed earnings, providing some tax relief compared to wholly-owned subsidiaries. Despite this, branches must still comply with Taiwan's broader tax regulations, including VAT and AMT, where applicable.
Dividends received from Taiwan companies by resident corporate taxpayers are not subject to income tax. However, a 20% income tax applies to dividends received from foreign sources. In terms of capital gains, domestic companies' capital gains from the disposal of Taiwan companies or other securities are generally not taxed under the income tax regime. However, the AMT at a rate of 12% may apply, reduced to 6% if the securities are held for more than three years. For foreign investors, capital gains from the disposal of Taiwan companies or other securities are exempt from income tax, making Taiwan an attractive location for investment in securities
