What is the minimum capital required to set up a company?
There is no minimum capital requirement, and it is recommended that it be at least NT$100,000 to meet the initial business expenses.
Do that need a registered address to set up a company?
Registered address is required,
If a company is established without address in the Taichung area, Richard RichLife also provides renting address services.
What is capital verification? Is it necessary?
The amount of capital must be verified by an accountant. The main purpose is to prevent false capital and avoid false registration.
Can you bookkeep by yourself ?
You can handle voucher accounting and tax declaration by yourself.
However, it is recommended to entrust the management of a professional firm to avoid under-reporting or delaying the tax return due to unfamiliarity, which may result in a delay in fines by the IRS.
When do you need an accounting visa?
Only a listed company must submit its annual financial statements to an accountant for verification and visa.
Are labor and health insurance required to hire employees?
Companies with less than 5 employees may not set up labor insurance insured units, but employers should still insure their employees “employment insurance”, “health insurance” and “labor retirement”.
What taxes do you have to pay for setting up a company?
Companies that issue unified invoices must declare “Business Tax” every two months, and “Profit-seeking Enterprise Income Tax” every May.
Are there any restrictions on being a director, supervisor or shareholder?
The company’s shareholders are legal or natural persons, and the limited company is composed of more than one shareholder, and the directors of the company shall be selected from among the shareholders whose directors are capable of acting;
A company limited by shares shall have two or more promoters, persons with incompetence or limited capacity, and shall not be promoters. The board of directors and supervisors shall be appointed by persons with capacity for conduct by the shareholders meeting (according to the provisions of the Civil Law). 20-year-old is an adult, that is, a person with capacity for behavior, and a married minor is also a person with capacity for behavior).
In addition, the appointment of directors and supervisors shall be governed by the provisions of Article 30 of the Company Act on negative qualification restrictions.
※Article 30 of Company Act：
1.Having committed an offence as specified in the Statute for Prevention of Organizational Crimes and subsequently convicted of a crime, and has not started serving the sentence, has not completed serving the sentence, or five years have not elapsed since completion of serving the sentence, expiration of the probation, or pardon;
2.Having committed the offence in terms of fraud, breach of trust or misappropriation and subsequently convicted with imprisonment for a term of more than one year, and has not started serving the sentence, has not completed serving the sentence, or two years have not elapsed since completion of serving the sentence, expiration of the probation, or pardon;
3.Having committed the offense as specified in the Anti-corruption Act and subsequently convicted of a crime, and has not started serving the sentence, has not completed serving the sentence, or two years have not elapsed since completion of serving the sentence, expiration of the probation, or pardon;
4.Having been adjudicated bankrupt or adjudicated of the commencement of liquidation process by a court, and having not been reinstated to his rights and privileges;
5.Having been dishonored for unlawful use of credit instruments, and the term of such sanction has not expired yet; or
6.Having no or only limited disposing capacity.
7.Having been adjudicated of the commencement of assistantship and such assistantship having not been revoked yet.