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Taiwan Company Limited by Shares Registration Package (For Foreign Company and Individual Apply for Registration of Taiwan Company Limited by shares)

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Taiwan Company Limited by Shares Registration Package
(For Foreign Company and Individual Apply for Registration of Taiwan Company Limited by shares)

Unless otherwise stated, the Taiwan Company stated in this quotation referred to the Taiwan Limited Company incorporated in Taiwan under the Taiwan Company Act.Unless otherwise stated, the Taiwan Company stated in this quotation referred to the Taiwan Company Limited by Shares incorporated in Taiwan under the Taiwan Company Act.

This package is suitable for residents or companies registered in places other than Mainland China that intend to apply to register a company limited by shares in Taiwan.

Summary

Our fees for the registration of a company limited by shares in Taiwan is TWD 112,000. The fees quoted included our service fee, the local agent service for one year, government fees and open a corporate account in Taiwan. Our service fees quoted above do not cover document legalisation and registered address service. Kaizen could provide the services, but the fees will be quoted separately.

For the purpose of registration of a company in Taiwan, the client needs to provide the proposed name of the company, the amount of registered capital, identity proof (passport or Certificate of Incorporation), and address proof, such as utility bill or address of registered office, of each person who will be the shareholder and director.

As to the time frame, in any case that the shareholder is an individual and happens to be in Taiwan, then the whole registration process be completed in around 4 weeks. In other cases, the registration of a company limited by shares in Taiwan normally takes 4 to 6 weeks.

If the business to be carried out by the Taiwan Company in Taiwan requires extra license or permit, we can help apply for such licence or permit and our fees will be quoted upon request.

Taiwan Company Limited by Shares Registration Package

1.
Service Fee and Time of Billing

Our service fees, together with the official filing fees, for the registration of a limited liability company in Taiwan are TWD 112,000. In particular, our fees cover the following services:

(1)
Registration and Related Services
(a)    Providing consultant service about incorporation and maintenance to client;
(b)    Preliminary check of firm’s intended name;
(c)    Preparation of memorandum & articles of the company and other incorporation documents;
(d)    Fill in and prepare the application form;
(e)    Application for Business Certificate.


(2)
Approval from MOEAIC
Application for approval for foreign investment from the Investment Commission of the Ministry of Economic Affairs in Taiwan.


(3)
Capital Verification Report
Once after the capital is remitted, Kaizen would arrange a certified public accountant in Taiwan to engage for capital verification.


(4)
Bank Account Opening
In the process of registering a Taiwan Company, the Taiwan Company needs to work the bank account in two phases. Firstly, by setting up a preparatory account, so that the capital contribution could be remitted by the investor. After receiving the approval letter from the Taiwan government, the investor could change the preparatory account into a formal account.

According to the policy of the bank, the director of the Taiwan Company will need to present in person to meet the bank for identity certification and conduct due diligence requirements. Kaizen role is limited to provide assistance, including preparing bank account opening documents and making appointments with the bank. The bank has the right to decide whether to approve the client's account opening application, and whether the account opening is successful or not, Kaizen does not assume any responsibility. If the company registration cannot be carried out due to the failure of the bank account opening, Kaizen will refund half of the service fee, which is TWD 56,000.


(5)
Import and Export Card
If you intend to conduct import and/or export business in Taiwan, you are required to apply for Import and Export Card with Ministry Economic Affairs. Kaizen will handle the application for Import and Export Card immediately after the company is duly registered.


(6)
Local Agent Service
The establishment of a Taiwan limited company should have a local agent with Taiwan identity card or owned an Alien Resident Certificate (ARC) to handle the registration and the registration change matter. This package included a one-year local agent service provided by Kaizen.


(7)
Application for Tax Code
Kaizen will handle the application tax registration for the Taiwan Company with the State Tax Bureau and apply for Tax Code. It should be noted that the Director/Person in Charge of the Taiwan Company should visit the State Tax Authority for identification verification.
2.
Optional Services

(1)
Company registered address service
Each company registered in Taiwan must rent a business office before submitting the registration application. Client can provide their own address in Taiwan, or if client need to use our Taiwan address as the use of company registration, our registered office service fee is TWD 54,000 per year.


(2)
Notarization of power of attorney
Our service quoted in table above does not cover the notarization of the power of attorney for appointment of local agent and manager, as required by the prevailing company laws and regulation for the purpose of registration of company in Taiwan. Such power of attorney shall be notarized by the local notary public office, court or notarized by the Taiwan Embassy in the country where the parent company is registered.


(3)
Translation Fee
Our service quoted in table above does not cover translation costs for translating registration related documents from English to Chinese, if required. We could arrange the translation on your behalf and the translation cost will be billed separately.

3.
Time of Billing and Payment Methods

We require full payment in advance. We currently only accept Hong Kong Dollar check, cash or TT and credit card through PayPal. If pay by PayPal, an additional 5% of service fee will be charged.

If Taiwan uniform invoice is required, an additional 5% of Business Tax will be charged.

Upon receipt of your order, we will issue an invoice and send our bank information together to you through email for your settlement.

4. Estimated Time Frame

The whole registration process would take about 4-6 weeks. The table below shows the estimated time frame for each of the steps for the registration process.

Item

Description

Responsible Party

Working Days

Preliminary

1

Lease Agreement (For company registration)

Kaizen/ Client

1

2

Notarization of the Power of Attorney

Client

5

3

Other documents

Client

Client’s schedule

Application for Registration

4

Perform proposed company name approval

Kaizen

2

5

Application for pre-registration approval

Kaizen

6

6

Carving of company and personal chop

Kaizen

2

7

Opening bank account - Preparatory Account

Kaizen

1

8

Capital Verification Report

Kaizen

5

9

Apply for official business registration

Kaizen

6

10

Perform State Tax Registration

Kaizen

5

11

Handle the uniform invoice purchase certificate

Kaizen

6

12

Opening bank account - Normal Account

Kaizen

5-10

13

Handle import and export business registration

Kaizen

1

4-6 weeks


Note:
(1)   The estimated time is based on high cooperationn between Kaizen and the client.
(2)   The estimated time is based on the company does not require any special license.

5.
Required Documents and Materials

(1)
Proposed Company Name
We suggest that client provides at least 2 to 3 names in Chinese. Client is required to provide one English company name to open the company bank account, which is for client to remit the capital from overseas.


(2)
Notarization of the Power of Attorney
The power of attorney shall be notarized by the local public notary office, court or notarized by the Taiwan Embassy in the country where the parent company is registered. The period of validity is 1 year.


(3)
Identification Documents and Address Proof of the Director, Shareholder and Supervisor
A copy of the identification document and address proof of the director, shareholder and supervisor of the Taiwan Company. If the investor is a juridical person, the identification documents of the investor such as Certificate of Incorporation, Articles of Association, Register of Shareholders, Register of Directors and the organization chart of the company. For the Hong Kong Company, Register of Significant Controller shall be provided. For the company organization chart, it shall disclose until the final beneficiary owner, the natural person shareholder who held the shareholdings with 25% and above shall provide a scanned copy of passport.

The Taiwan Company limited by shares has to be funded by at least 2 shareholders and shall appointed 1 director and 1 supervisor. If the shareholder is a legal person and holds 100% of the shares, then 1 director shall be appointed. There is no nationality restriction for the shareholder, director and supervisor, except for Mainland Chinese.


(4)
Lease Agreement
A copy of lease agreement for the office premise to be used by the new company, letter of consent of construction use and the latest housing tax bill.


(5)
Amount of Capital
The amount of capital/investment of the proposed Taiwan Company. The Taiwan Company Law does not impose any restrictions on the amount of capital now. However, we suggest that the amount of capital be set at TWD 500,000 or more, or any other amount that would be sufficient to support the operation of the company before it generates its own income.


(6)
Business Activities
A brief description of the principal business activities of the Taiwan Company, including the products to be imported/exported/traded or services to be provided.

6. Certificate and Documents Obtained after Registration

After the company is officially registered in Taiwan, the investor should have the following documents and certificate evidencing that the company is ready for business:
(1) Articles of corporation;
(2) Company registration form issued by the Taiwan Government;
(3) Business tax registration form;
(4) Business tax registration approval letter;
(5) Company chop and chop for the person-in-charge;
(6) Uniform tax invoice collection certificate and corporate card;
(7) Import and export registration.

7.
Annual Maintenance Fee

After a company is officially registered in Taiwan, it is required to comply with the maintenance requirements such as prepare an annual business report, updating books of accounts, auditing of financial statements, filing of business tax bimonthly and filing of profit-seeking enterprise income tax returns. Our fees for some of these services are determined by the nature of business and volume of transactions. The fees listed in the table below represent the minimum maintenance costs that the owner of a Taiwan company should budget for and are provided as a reference only.

Item

Description

Amount (TWD)

1

Preparation of business report (Annually)

10,000

2

Declaration of shareholder and person in charge (Annually)

6,000

3

Updating books of accounts (Assuming annual turnover of TWD 10 million)

60,000

4

Financial statements statutory audit (Assuming a turnover of TWD 30 million)

20,000

5

Tax computation and filing of profits tax return

10,000

6

Basic Payroll Service (Per person)

2,500

7

Provision of Registered Office (Second year and thereafter)

54,000

TOTAL

162,500/up


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