Small business setup in Taiwan
With its technological expertise, business-friendly environment, and abundant opportunities in technology, manufacturing, and innovation, Taiwan offers a favorable environment for small businesses. We specialize in helping small businesses start and grow, drawing on our deep knowledge of the local market and expertise in company formation to assist with the necessary documentation and procedures for launching a small enterprise in Taiwan. Let’s explore the benefits of establishing a small startup in Taiwan and how our tailored solutions can support your success.
Formalities and procedure
Registering a small enterprise in Taiwan requires going through a series of steps that can be finished within a short timeframe.
Choose a business name
The name of the business must be original and not currently being used. You can verify the availability of a name on the Taiwan Trade Registry’s website.
Select legal entity type
Choosing the right legal structure is crucial for the prosperity of your small business. We offer expert advice on Company Limited by Shares, Limited Company, Branch Office, and Holding Company to assist you in making a informed decision that suits your unique needs and future goals.
Set up legal address
It is crucial to have a registered address when launching a business, as it acts as the primary point of contact for governmental entities, legal bodies, and crucial business communication. Selecting a registered address that complies with local regulations and aligns with your business needs is essential.
Get the necessary paperwork ready
Our team of professionals will assist you in crafting detailed and tailored documentation that aligns with your company’s structure and objectives. We ensure compliance with all legal regulations and will handle the submission process on your behalf.
Open a bank account
Setting up a corporate bank account is necessary when establishing businesses in Taiwan. We will guide you through this procedure to ensure you meet all requirements and support you in opening a bank account with a well-known financial institution in Taiwan for your small business activities.
Company registration
We take care of the registration process with entities such as the Trade and Companies Register and tax authorities, saving you from the administrative hassle. This ensures that your small business is properly recognized and compliant from the beginning.
Setup accounting
In order to effectively start a small business, it is important to keep precise financial records. Our group of accounting professionals can assist in developing efficient accounting and bookkeeping procedures that adhere to Taiwan’s regulations.
Small business examples
Small businesses are present in various industries and sectors, each having their own unique requirements. Here are a few examples of small businesses:
- Business support: Smaller consultancies, individual service providers
- DIY retail: Locally-owned hardware shops, small home improvement stores
- Education: Tutoring services, small language schools, independent trainers
- Farming: Smaller, family-run farms
- Fitness: Individual trainers, small local gyms or studios
- Food and beverage retail: Independent grocery stores, coffee shops, bakeries
- Hotels and motels: Smaller, independent hotels or motels
- Laboratory: Smaller independent testing labs
- Marketing: Freelance marketers, small local agencies
- Media: Independent content creators, niche publications, small production companies
- Printing: Small local print shops
- Real-estate: Individual realtors, very small brokerage firms
- Restaurant: Independent, non-chain restaurants
Benefits of establishing a small business in Taiwan
Taiwan is an attractive location for small businesses to establish themselves, providing numerous benefits:
Strategic location
Companies seeking advanced solutions and opportunities are drawn to Taiwan due to its strong technological capabilities, favorable business environment, and abundant prospects in technology, manufacturing, and innovation. Taiwan’s exceptional semiconductor industry, skilled labor force, and government backing for research and development provide a variety of benefits for businesses aiming to enter its vibrant market.
Favorable tax regime
Taiwan’s corporate income tax rate is 20%, with incentives and tax credits available for research and development and certain investments. The country’s advanced technology sector and advantageous location make it an attractive destination for businesses.
Banking
Taiwan’s banking sector, which is well-established, provides stability and various financial services and investment opportunities, making it appealing to investors looking for secure banking solutions in a technologically advanced setting.
Our small business setup solutions
We understand the value of your time and resources. This is why we offer two convenient choices to streamline the process of setting up a company.
Business formation online
Thanks to the online platform offered by Taiwan, individuals can start and finish the process of setting up a business from any location. The option to keep track of advancements, upload necessary paperwork, and access our services through secure online platforms guarantees a hassle-free and user-friendly experience.
Business formation remotely
If you’d like a more hands-off approach, we can manage all the paperwork for you. Our team of experts will handle all the necessary formalities, complete the required paperwork, and communicate with the relevant authorities on your behalf to ease your worries.
Contact us today and launch your small business success
Contact us today to schedule a consultation and begin pursuing your business goals. Let’s embark on this journey together.