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Service
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Cost (USD)
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Total cost of incorporation of a limited company with a bank account
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7 500
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Providing of a legal address for 1 year
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2 800
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Accounting service
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3 200
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Total:
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from 13 500
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Incorporation of a Company Limited by Shares in Taiwan includes the following steps:
1) Selecting:
· Company name should be in Chinese
· One English company name is required to open a bank account, which is for client to remit the capital from overseas.
2) Payment fees for services
3) Providing documents for directors / shareholders / beneficial owners. The list of required documents is provided separately and will depend on the company structure.
4) Preparing Taiwan company registration documents, together with registration application form and documents.
5) Approval from MOEAIC
Application to obtain approval from the Investment Commission of the Ministry of Economic Affairs in Taiwan for the foreign investment.
6) Capital verification report, after investor remits capital, the company should hire a certified public accountant for capital verification.
7) Opening a corporate bank account
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 temporary 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 temporary account into a current account.
According to the policy of the bank, for identity certification and conducting due diligence requirements personal visit of the director to the bank is required.
8) Application for Tax Code
Application for certificate of tax registration for profit-seeking enterprise with the National Taxation Bureau. The certificate of tax registration is a tax ID issued by the authority. According to the types of industries, there are two types of tax registration certificate and local tax registration.
After a company is officially registered in Taiwan, it is required to comply with the maintenance requirements such as preparation and filing of 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.
Preparation of business report and tax computation and filing of profits tax return are has to be done on annual basis.
A Financial audit must be produced if the company meets at least one of the following conditions:
Corporate income tax is 20% (on income exceeding 120,000 TWD ≈ 3 800 USD per year). Taiwan is a member of the International Automatic Exchange Convention since 2020.
Meetings of shareholders are annual and may be held in any state.
The VAT rate is 5%. This tax generally applies to transactions in various sectors of the economy. GBRT applies in special cases, in particular to financial institutions, small businesses. GBRT rate is 5% for banks and insurance companies.
The cost of renting your own office depends on the size and location of the premises. The minimum rent is from 550 USD per month for an office of 12-13 sq. m.
The minimum rent period is more than 12 months. The office must be located in a commercial building.
The services of recruiting staff are provided upon request based on business needs, employee’s duties, and work schedule. The fee for such services is 25-35% of the employee’s annual salary. The minimum wage of an employee in Taiwan is from 900 USD / month.
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Service
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Cost (USD)
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Total cost of incorporation of a limited company
Includes: - Remote company registration; - Payment of government fees required for company registration; - Preparation of corporate founding documents; - Registration of the company with the tax authorities; - Corporate bank account opening. Does not include: - translation, notarization and apostille of documents; - registered office; - Compliance fee. |
7 500
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Accounting service
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3 200
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Providing of a registered office for 1 year
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2 800
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Preparation of business report
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850
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Declaration of person in charge and shareholder
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550
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Tax computation and filing of profits tax return
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313
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Updating books of accounts if company’s turnover exceeds 10 mil. TWD ≈ 313 800 USD
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1 900
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Financial statements statutory audit if company’s turnover exceeds 30 mil. TWD ≈ 941 400 USD
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650
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Renting a separate office
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Searching for office space
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200 / hour
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GSL services of searching for office space, agreeing the terms of and arranging the signing of the office rent agreement are charged on an hourly basis, with a report on the work done
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Minimum deposit 800
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GSL agency fee, if the rent agreement is signed (payable once)/
The realtor’s fee, if any, is paid additionally as invoiced by the realtor (the fees of local realtors can equal a monthly or two monthly rents) |
10% of annual sum
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Monthly rent (a deposit is payable to the landlord for two months in advance)
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from 550 (small office for 1-2 employees)
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Recruiting
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Recruiting services
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from 25-35% of annual salary
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Minimum wage per month
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from 900
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Basic Payroll Service (per person)
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350
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Courier services
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250
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Compliance fee
Paid in case of: - incorporation of a company, - company’s renewal, - company’s liquidation, - transfer to another agent, - issue of a power of attorney for a new attorney, change of director / shareholder / beneficiary, except for a change to a nominee director / shareholder, - signing of documents. |
350 (standard fee – includes check of 1 individual),
+ 150 for each additional individual (director, shareholder or beneficiary) or legal entity (director or shareholder) if legal entity is serviced by GSL, + 200 for each additional legal entity (director or shareholder) if legal entity is not serviced by GSL, 450 (check for High Risk companies, including check of 1 individual), 100 (signing of documents). |
*The fees are valid as of the date of sending of this offer.