Taiwan offers a great location for organizations looking to expand their international presence in Asia. The country has a strong economy, even in the face of the pandemic, with business growth at 3.12% in 2020. Taiwan's business-friendly environment and positive attitude towards foreign companies make it an ideal place to set up operations.
The steps to setting up a company in Taiwan include:
Apply for a company name search and reservation.
Apply for foreign investment approval, which requires various documentation including an application letter, an approved name reservation, and a power of attorney.
Apply for the examination of investment capital, which requires various documents including an application form and approval letter from the Investment Commission of MOEA.
Apply for partnership registration, which is only required if investing as a sole proprietorship or general partnership.
Apply for Importer/Exporter English Name and Registration, which requires reservation of the company's English name and registration with the Bureau of Foreign Trade of the MOEA.
Apply for business registration, which is required for all companies in Taiwan.
In summary, Taiwan offers a great opportunity for foreign companies looking to expand in Asia. The process to set up a company in Taiwan can take 2-6 months and involves various steps, including applying for company name, foreign investment approval, and business registration. It's important to research the specific requirements and regulations for your industry and seek professional advice if necessary.
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