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Understand the Jurisdictions Setup Requirement Before Proceed Your Taiwan Company Incorporation Services
Thinking of incorporating a company in Taiwan? What makes Taiwan an attractive investment hub? Is registering and incorporating a company in Taiwan a good idea? Yes, it is.
Taiwan is the gateway to other large markets around the Asian region. Home to a large number of already established international companies, Taiwan does everything from port facilities, bank support, trade finance, shipping, infrastructure, transportation and more. The strength of the Taiwan market is in fact in its shipping infrastructure, where the world’s leading shipping companies are sailing over to make port in Taiwan.
Taiwan has an impressive 7 international ports and is easily accessible to Hong Kong, Manila, Shanghai, Tokyo and Singapore. With a consumer base of over 23 million people, Taiwan is a high-income country. Yet surprisingly, it remains relatively inexpensive to operate a company in Taiwan with affordable skilled labour cost of around $550 per month.
Low wage inflations means businesses are able to grow their profits faster. The Taiwanese government is also offering low interest loans for companies who are involved in research and development activities. This is specific to agriculture technology and distribution activities.
Taiwan has also been ranked by the World Bank as the 2nd best in the world with regards to getting electricity, the 3rd best in the world in dealing with construction permits and the 14th best in the world for enforcing contracts. Taiwan has also been ranked as the 14th most competitive jurisdiction in the world by the World Economic Forum for the period of 2016-2017.
Company Incorporation in Taiwan
Professional company incorporation services in Taiwan are available to help new investors manoeuvre through the process with as little hassle as possible. Getting a company incorporated in Taiwan will require one shareholder and one director, both of whom can be of any nationality or residency.
Even if a foreign investor were to choose to set up a branch office of a company, no local representation needs to be appointed for the company to take effect. Foreign investors usually opt to set up a local limited liability company, because of the flexibility it offers by not requiring the directors and shareholder of the company to be a Taiwan resident.
Foreign investors are best advised to set up an LLC in Taiwan because of the flexibility and the low administrative requirements needed. The corporate tax structure in Taiwan is such that business owners end up paying about 17% of the total taxable income.
Do you require more assistance on incorporating a company in Taiwan? Contact our panel of experts today at 3E Accounting. We’ve got the expertise you need to make your Taiwan venture a successful one.