Company Establishment Process For Foreigner
Company Name pre-investigation
- Name 2-5 pcs
- Business items
- A copy of the passport of the person in charge
Company Registration
- Investment plan preparation
Assist in writing investment plans
Investment Board, Ministry of Economic Affairs Review
- Open bank preparatory account
Company Name Pre-check Verification Form
Personal seal of the person
Letter from Investment Board, Ministry of Economic Affairs
- Total capital paid in
Shareholders deposit capital
Investment Board, Ministry of Economic Affairs Review
- Convene a shareholders meeting
Draft the company's articles of incorporation
Election of Directors and Supervisors
Minutes of Shareholders' Meetings/Shareholders' Consent Letter(personally signed)
Board meeting minutes/sign-in book(personally signed)
Consent letter of directors and supervisors (personally signed)
- Deliver Company registration
Obtain Government Uniform Invoice number
- Change bank account name
the person in charge go to the bank to handle it
company registration approval documents
articles of incorporation
the first corporate seal & the second corporate seal
※Documents to be prepared in accordance with the regulations of the bank that opened the account
Business Registration
- Tax registration delivery
- The person in charge go to the IRS to sign
- Apply for invoice purchase ticket
- Purchase invoice
Foreign company/Foreign branch/Office in Taiwan
| Name | OO Limited Company |
|---|---|
| Capital | Unlimited (work permits can only be applied for more than NT$500,000) |
| Number of shareholders | Unlimited |
| Capital visa | Accountant visa required |
| person in charge | Same as domestic company regulations |
| Investment Board, Ministry of Economic Affairs | Requires approval from Investment Board, Ministry of Economic Affairs |
| Company registration | Same as domestic company regulations |
| Business registration | yes |
| General business tax rate | 5% |
| Profit-seeking Enterprise Income Tax Rate | 20% |
| Name | OOO Co., Ltd. Taiwan Branch |
|---|---|
| Capital | Unlimited (work permits can only be applied for more than NT$500,000) |
| Number of shareholders | Unlimited |
| Capital visa | Accountant visa required |
| person in charge | 1 litigation and non-litigation agent 1 manager (Both can be the same person) |
| Investment Board, Ministry of Economic Affairs | Requires approval from Investment Board, Ministry of Economic Affairs |
| Company registration | Head office approval and branch establishment registration |
| Business registration | yes |
| General Business Tax Rate | 5% |
| Profit-seeking Enterprise Income Tax Rate | 20% |
| Name | OO Co., Ltd. Office in Taiwan |
|---|---|
| Capital | Not applicable |
| Number of shareholders | Not applicable |
| Capital visa | Not applicable |
| person in charge | 1 litigation and non-litigation agent |
| Investment Board, Ministry of Economic Affairs | Apply to the Ministry of Economic Affairs for review |
| Company registration | Need to report their behavior in Taiwan |
| Business registration | None (requires tax registration) |
| General Business Tax Rate | no commercial behaviors in the country |
| Profit-seeking Enterprise Income Tax Rate | no commercial behaviors in the country |
Work Permit / Apply for a residence permit
company representative/branch manager/office representative work permit application and residence permit processing.
| Documents required for work permit application |
| Application | Fill payment receipt information |
|---|---|
| Register of Foreigners Employed | |
| Foreigners Employed’ photocopy of passport or alien’s residence permit | It should still be valid at the start date of employment |
| Photocopy or copy of employment contract | The name, nationality, job title or job content of the foreigner hired should be stated (the scope of work that the foreigner is actually engaged in should be fully confirmed), salary and remuneration, employment period, and signed by both parties |
| A copy of the National ID Card, Passport or Alien Residence Permit of the person in charge of the applicant unit | It should still be valid on the date of application (additional address + signature) |
| Applicant’s registration certificate or business registration certificate | Registration form |
| A photocopy of the approval letter for overseas investment undertakings issued by the competent authority | Foreign Investment Review Board approve investment letter |
| Copy of capital or turnover certificate | For companies established for less than one year, the actual paid-in capital or domestic working capital should reach NT$500,000 or more. |
| A copy of the company registration or change registration form (manager column note) | If a foreigner is hired to work as a Type B supervisor, it should be stated in the company change registration form that the foreigner is a manager, branch manager or office representative. |
| Others | If the employer hires foreigners as managers, branch managers or office representatives, if the number exceeds one person, the required documents for foreigners, employer qualifications or other qualifications shall be in accordance with the provisions of Type A work. |
| Documents to be prepared for residence permit application |
| Application form | Signed in person or by an agent appointed |
|---|---|
| Color photo of frontal half-length on white background | Two-inch half-length frontal photos with cap off in the past year |
| Passport and stay visa | Return after inspection |
| Certificate of health examination within three months | white-collar workers apply works & Investment in Taiwan & the heads of foreign companies are exempt |
| Criminal record certificate | white-collar workers apply works & Investment in Taiwan & the heads of foreign companies are exempt |
| Proof of current residence | Lease agreement or home ownership certificate |
| Approval letter for foreign professionals who have been hired by the central labor authority or the destination business authority | The approval letter valid for more than six months hiring |
| Certificate of Employment within one month |
Business item
The company's subsequent business items must be listed one by one, and each item must be reviewed and approved by Investment Board, Ministry of Economic Affairs. If you want to add or remove business items in the future, you must also report to Investment Board, Ministry of Economic Affairs. The business items are from the business item code retrieval system of the Ministry of Economic Affairs. Pick in.
Registered address
Each company/office must have a registered address and meet the relevant specifications of the business item. For example, business items that require a storefront need to be displayed with a signboard. If it is a business item that does not require a storefront, such as retail without a storefront.Therefore,our office also provides services that for borrowing addresses.
Working capital
The company has no requirements for the amount of working capital, but the company that needs to apply for a work permit needs at least NT$500,000 in capital, and must be transferred to the Taiwan company account from the overseas account in the name of the person in charge or legal person.
Processing time
Limited company:
Pre-check name 2 days
Investment Board, Ministry of Economic Affairs review board will review for 14 days
Remit funds within 7 days
Fund review 14 days
Company establishment 7 days
(Total duration is about 45 days)
About 30 days for branch office / about 20 days for office
With the increasing development of e-commerce, the Ministry of Finance has listed online transactions as the focus of tax inspections. For example, Facebook and LINE are included in the review. People who operate online shopping, if the monthly sales volume of goods reaches NTD80,000 or labor services reaches NTD40,000, they will reach the tax threshold.They must go through business registration in accordance with the law and pay Profit-seeking Enterprise Income Tax.
Since May 2013, the Ministry of Finance announced the establishment of a special task force for online shopping to discuss how to “catching leaks” of e-commerce platforms. In addition to tax inspections on well-known online shopping platforms such as Taobao, the inspection targets will be expanded to emerging social tools, especially the most popular Facebook and LINE, which will be included in the scope of online transaction tax inspections.
Richar Richlife reminds you that if an individual sells goods or services on an online platform, the monthly average sales reach the minimum threshold, please apply for business registration with the IRS domicile or place of residence, in order to avoid punishment.