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In Taiwan, starting a venture and registering your business is governed by the Company Act. This legislation covers the establishment, obligations, and rights of different types of business entities such as sole proprietorships, partnerships, and corporations. Any foreign business wishing to establish a presence in Taiwan must also comply with this Act, along with other applicable laws, depending on the nature of their industry.
There are numerous situations where a lawyer's assistance can be invaluable in registering a business in Taiwan. For example, a lawyer can advise on the most suitable form of business entity based on your specific objectives and needs. They can also guide you through the complexities of business registration procedures, help you draft relevant documents, and ensure you obtain the necessary licenses and permits. Furthermore, Taiwan’s strict regulations on intellectual property, taxation, labor contracts, and environmental protection make it essential to have expert legal guidance.
The Company Act in Taiwan governs the registration process of a business. Under this act, businesses are classified into limited companies, unlimited companies, sole proprietorships, and joint ventures, among others. The Act outlines all necessary steps for setting up these different business structures, along with their unique requirements. It also stipulates prerequisites for share structures, directorship, and corporate governance. Other laws affecting business registration include the Foreign Investment Approval Law, which regulates the establishment of foreign-owned entities, and the Commercial Registration Law, which guides the commercial registration process.
Yes, foreigners can register businesses in Taiwan. However, they need to comply with the specific provisions stated under the Foreign Investment Approval Law.
No, a foreign company must establish a presence either through a branch office, representative office, or a subsidiary before conducting business activities in Taiwan.
The duration can vary depending on the type of business entity but the average processing time is around 2-3 months.
Typically, you will need your business’ Articles of Incorporation, a list of board members, identification documents of shareholders, and proof of the registered office's location, along with other documents depending on the specific business structure.
Partial online registration is possible. Certain aspects of the application can be submitted online, but physical documents need to be submitted for final registration.
Penalties can range from fines to business restrictions, and, in severe cases, imprisonment may be imposed.
Yes, a sole proprietorship can be transitioned into a corporation subject to meeting the legal requirements specified in the Company Act.
Yes, the Taiwanese government has implemented various incentives and subsidies to encourage start-ups and innovation.
Businesses in Taiwan are subject to Corporate Income Tax, Business Turnover Tax, and other applicable taxes depending on the nature of the business.
Yes, a business entity can purchase and own property in Taiwan. However, certain restrictions may apply to foreign-owned entities.
The Ministry of Economic Affairs in Taiwan provides comprehensive support for businesses. Its Investment Commission offers detailed guidelines on foreign investments. Additionally, the Department of Commerce is valuable for company registration and business information. You may also consult the Taiwan External Trade Development Council for resources related to trade and business expansion.
If you require legal assistance in registering a business in Taiwan, it's highly recommended that you consult with a local attorney who specializes in business law. They can provide guidance through each step of the registration process, help you understand the local laws and regulations, and ensure you stay in compliance with them. Following that, you will need to compile all necessary documentation and complete the relevant forms, after which you can formally apply for business registration.
