iiiNNO is a cross-border accelerator and is committed to help entrepreneurs and startup companies to leverage the abundant resources in Taiwan and expand to Asia.
Section #1: Critical questions to speed up the application and preparation
**Before thinking about setup any type of company in Taiwan, please kindly ask yourself the following? Hopefully the answers to these questions will eliminate the unnecessary hold back or re-work/re-do in order to build the flexibility for your future business and move fast for the setup of your company, especially facing with time constraint.
- What are the top 3 reasons that you need a company here in Taiwan?
- Are you going to be the only owner? or shareholder? Or there will be multiple?
- Are the owner of the company in Taiwan, partially owned or completely owned by an individual person or by an individual company (e.g. the parent company to the new entity in Taiwan) or a combination of individual and company outside of Taiwan?
- Are you planning to use your company to
- generate revenue?
- hire staff or R&D developer?
- apply for government resources or subsidy?
- sponsor yourself in order to obtain a work permit?
- renew for 2nd and 3rd year of entrepreneur visa program?
Section 2: Get to know the Taiwan government ministry and agency responsible for the law regulation and process.
- responsible for regulation and approval of foreign investment to Taiwan.
- why it is important: all foreign investment to Taiwan needs to obtain an investment certificate from this agency in order for the bank and city government to recognize this fund is an approved capital to company setup.
- regulation / process
Section 3: The key steps of creating a independent or subsidiary company in Taiwan (in preferred sequence)
Step#1: Taiwan government's Taiwan company name reservation and operation categories application (公司查明及營業項登記)
- Objective: Reserve Chinese name of the company in Taiwan and identify the operation categories of company
- come up with up to 3 selection of potential names in preference sequence and select carefully of the operation categories, which will impact on which type of invoice or business you can operate.
- in the category, please do select "9999" to indicate that you will also be able to operate in the operation category not listed.
- can apply online and wait for 23 business day to receive a certificate that gives you the right of using this name within 6 months. This document is crucial for Step #2.
- Why this step is important
- this certificate is required to proceed with step #2, which is the bank account creation.
- some bank may required that the address you use for the application of Step #1 to be in the proximity of service area. Please do call the bank branch that you will be opening the bank to see if this requirement is still valid. If it is required, then you need to have an address contract ready or be sure that you can use a temporally address for the application and change later for the step #2. The address here does not need to be the same as for other following steps.
Step#2: Business address
- purpose: To get a Taipei city business address where you can actually register your business in*
Step#3: Taiwan's government Investment commission certification application (投審函申請)
- purpose: To get Taiwan government official approval of bringing $$$ to Taiwan*
Step#4: Bank account setup with preparatory status (籌備處開戶)
- purpose: To open an company bank account in order to receive your $$ investment from aboard
Step#5: Wire $$$$$ (投資匯款)
- purpose: To officially have the investment $$$ in Taiwan with recognition as capital*
Step#6: Investment accountant certification (會計師驗資)
- purpose: To get a certificated from a certified Taiwan accountant to sign-off on your amount of capital invested in Taiwan*
Step#7: Company charter and registration (公司登記及章程)
- purpose: To officially obtain the company registration and TAX (Government Unified I ##)*
Step#8: Revenue tax office and GUI purchase certificate (國稅局及發票購買證)
- purpose: To get final government interview and approval to officially conduct business with ability to issue invoice*