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Corporate Service - Taiwan

Question

Taiwan Limited Company- Bank Account Opening and Remittance

Answer
Q:
What are the required documents for opening a preparatory bank account?
A:
The required documents are company reservation form (or the approval letter issued by MOEAIC), the stamp of company and responsible person and passport of responsible person. If the responsible person is a Taiwanese citizen, the ID card and the other proof of identification are required.

Q:
How long will it require to remit the amount of capital into the preparatory account?
A:
In the condition of the responsible person being Taiwanese, the amount of capital can be remitted upon the receival of company name reservation form. Reversely, if the responsible person is a foreigner, the amount of capital is required to be remitted within one year into the preparatory account from the date of issuance of approval letter by MOEAIC.

Q:
Is the preparatory account same as the normal official bank account?
A:
No, it isn’t. The official bank account is only allowed to be applied for after the establishment of the company.

Q:
Is it possible to submit only a copy of balance sheet to finish the whole procedure of audit of capital remittance?
A: No, it isn’t. The applicant shall provide a certified accountant with a copy of balance sheet to verify and generate a certified capital audit report and submit it to MOEAIC.

Q:
Is it possible for the third party on behalf of the responsible person to open the preparatory and official account?
A: No, it isn’t. The responsible person is required to present personally at the bank to proceed all related procedures.

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