Set-up Your Company in Taiwan
NNRoad provides business incorporation and company registration services to foreign investors and businesses starting or expanding a business in Taiwan.
The Branch and the Subsidiary (Limited Liability Company and Company Limited by Shares) models are the most popular structures for foreign entity registrations.
Below you can know more about the types of companies that you can open in Taiwan:
- Limited Liability Company - A Limited Liability Company (LLC) structure is considered to be its own independent domestic company and its own legal entity. In Taiwan, an LLC has (17%) operating income after tax, it can be transferred to the parent company by paying a 20% withholding tax. In addition, this type of company must be formed by at least one director and shareholder.
- Branch - Not considered to be its own legal entity, a Branch structure operates on behalf of the parent company. This means that the parent company can retain the Branch structured company’s net profit after the payment of income tax without any additional income taxation. Also, an individual agent for litigious and non-litigious matters, and an individual branch manager, are appointed by the Branch entity.
- Company Limited by Shares - A Company Limited by Shares structure is considered to be its own legal entity and independent domestic company. Unlike the Limited Liability Company (LLC) structure, this entity is limited by shares; meaning that it is the shareholders’ obligation to pay the company for the shares they own. In addition, when it is in the formation process, it requires two or more shareholders and at least three directors to be present.
NNRoad's Company Formation Service Includes:
While starting a company in Taiwan may seem very enticing, companies and people can still be hesitant to proceed because they are unfamiliar with the steps it takes to register a company in Taiwan.
So, many of these companies turn to a third-party in order to assist them with creating either a Wholly-Foreign-Owned-Enterprise (WFOE) of a Joint Venture (JV) in Taiwan. NNRoad’s company formation services in Taiwan help companies help simplify the process of company registration in Taiwan and ensures that businesses expanding into Taiwan have smooth company incorporation.
The services provided by NNRoad enables people to take the complexity out of setting up a company in Taiwan by either completing a task for a company or consulting them about it.
- Confirmation of the selection of a business entity type.
- Advise with the initial capital amount, if applicable.
- Assistance with the selection of entity Chinese name.
- Assistance with the identification of key persons in the entity (i.e. shareholders/members, directors, chairman, supervisors.)
- Consultation with the entity location, address registration.
- Assistance with the refinement of business scope.
- Preparation and file the pre-review application of the company name and business scope.
- Assistance with the application for foreign investment approval.
- Assistance with the completion of the business registration process with relevant government agencies.
- Assistance with the application of business registration with the local tax authority (tax registration).
- Application for company chop.
- Assistance with the application of import/export license, if applicable.
- Assistance with the trademark registration, if needed.
- Assistance with the application of health and labor insurance.
PEO Service/Employer of Record in Taiwan
Hire Your Employees in Taiwan Legally and Quickly. No local entity needed.
NNRoad is a Professional Employer Organization (PEO) that provides Employment Solutions in Taiwan, also known as Employer of Record (EoR) services.
Many companies opt to outsource their employment to minimize costs and legal risks when expanding their business operations in Taiwan.
NNRoad is specified in helping foreign companies navigate through employment laws and requirements, saving you time so you can focus on core business activities.
- Legally hire local and foreign employees without a legal entity established in Taiwan.
- NNRoad becomes the in-country employer of record for your dispatched employees in Taiwan. You will still be responsible for the management of your employees.
NNRoad's PEO Service in Taiwan Includes:
- Hiring of and termination of employees including local labor contracts (contract administration: engagement, extension termination, and conversion to permanent hire).
- On-boarding and off-boarding employees adhering to Taiwan labor law practice.
- Complete payroll solutions and benefits administration.
- Employee management: employee record retaining, timekeeping, bonus and allowance management, expense and claims, and leave employee database management according to local law.
- Mandatory insurance compliance according to the Taiwan local laws (i.e. pension, labor and health insurance).
- Payment management (invoicing customers/clients and vendor payments).
Payroll Service in Taiwan
NNRoad Takes Care of Your Payroll & Benefits Administration in Taiwan
NNRoad offers full payroll services in Taiwan. Our services ensure that your payroll needs are handled from end to end. This helps free up valuable resources such as staff time so you can focus on your core business activities.
Companies that are new to Taiwan benefit from our payroll knowledge, and additionally companies that are already established in Taiwan also gain value from payroll outsourcing. As payroll and taxation can be a challenging and tedious process, outsourcing this to NNRoad means you can increase your business efficiencies in other areas and reduce the risk of incorrectly performing these tasks.
NNRoad’s Payroll and Benefits Services in Taiwan Includes:
- Registering the necessary company and personnel information for payroll calculation in the payroll software and system
- Calculation of gross salary, salary deductions (e.g. social insurances, unpaid leaves, etc.), and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, severance, retirement payment, travel allowance paid by welfare committee, etc.
- Pro-rata calculation for people who join/resign.
- Providing a monthly payroll summary to the Company.
- Payroll Disbursement - Issuing payment notice to the Company for payroll distribution to employees and employee’s travel expense claim.
- Calculation and contribution of mandatory insurance (labor insurance/national health insurance/pension) to local bureaus.
- Year-End Adjustment and Annual Declaration.
Tax & Accounting in Taiwan
Accurate and well-organized financial information is important for any business to run smoothly on a daily basis and it is the core factor that leads to the success of a business. NNRoad, with the help of experienced accountants, provides specific accounting services to help companies in Taiwan to meet their accounting and statutory reporting requirements and ensures companies achieve a better goal with 100% compliance.
- Initial bookkeeping set up (one time).
- Sorting and matching transaction documents against bank statements/ preparation of bank reconciliation.
- Preparation of monthly and year-to-date Profit & Loss Statement.
- Preparation of year-to-date Balance sheet.
- Issuing of Government Uniform Invoice (GUI) on behalf of your company.
- Preparation and submission of bi-monthly VAT Filing.
- Preparation and submission of the corporate income tax return.
- Perform attestation service on the corporate income tax return.
- Attestation service on financial statements and corporate income tax returns.