Business Administration in Taiwan

Overview by Globlatrade.net:

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min) Number of Partners/Shareholders and Liability Registration Fees
Limited Company is a Private Limited Company.
 
 
NT$ 500,000,
totally subscribed at the constitution.
Minimum 5 partners. Maximum 21.
 
 
Liability is limited to the amount contributed.
Company name registration: NTD 300; Stamp / Seal of the company: NTD 450-1,000 ; Verification of the capital paid by a public accountant: NTD 4,500-25,000 ; Application for incorporation to the Ministry of Economic Affairs for large firms with capital exceeding NTD 500 million : 0.025% of the capital; Obtain a business license and a taxpayer identification number: NTD 1,000 .
Company Limited by shares is a Public Limited Company.
 
 
NT$ 1,000,000.
25% must be released at the constitution.
At least 7 partners.
 
 
Liability is limited to the amount contributed.
Company name registration: NTD 300; Stamp / Seal of the company: NTD 450-1,000 ; Verification of the capital paid by a public accountant: NTD 4,500-25,000 ; Application for incorporation to the Ministry of Economic Affairs for large firms with capital exceeding NTD 500 million : 0.025% of the capital; Obtain a business license and a taxpayer identification number: NTD 1,000 .
Unlimited Company is a General partnership
 
 
No minimum capital
Minimum 2.
 
 
Liability is unlimited
Company name registration: NTD 300; Stamp / Seal of the company: NTD 450-1,000 ; Verification of the capital paid by a public accountant: NTD 4,500-25,000 ; Application for incorporation to the Ministry of Economic Affairs for large firms with capital exceeding NTD 500 million : 0.025% of the capital; Obtain a business license and a taxpayer identification number: NTD 1,000 .
Limited partnership (SCS)
 
 
No minimum capital
2 types of partners: active partners and sleeping partners.
 
 
Liability is unlimited for active partners and limited for sleeping partners.
Company name registration: NTD 300; Stamp / Seal of the company: NTD 450-1,000 ; Verification of the capital paid by a public accountant: NTD 4,500-25,000 ; Application for incorporation to the Ministry of Economic Affairs for large firms with capital exceeding NTD 500 million : 0.025% of the capital; Obtain a business license and a taxpayer identification number: NTD 1,000 .
 
Business Setup Procedures
It is easy to constitute a company through a lawyers' office.
The Competent Organization
MOEA.

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Working Conditions

Legal Weekly Duration
48 hours per week or 8 hours per day.
Retirement Age
65 years or work for 30 years.
Working Contracts
It depends on the company. In general contracts offer little protection. The open ended contract does not exist.

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Cost of Labor

Minimum Wage
17280 NTD
Average Wage
Average monthly gross earnings in Taïwan is NTD 39,522 (USD 1,200) for women and NTD 49,705 (USD 1,500) for men.
Social contributions
Social Security Contributions Paid By Employers: 4.55%. More information on the website of the Bureau of national health insurance.
Social Security Contributions Paid By Employees: 4.55%. More information on the website of the Bureau of national health insurance.

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Social Partners

Social Dialogue and Involvement of Social Partners
Unions have little power and strikes are rare.
Unions
Taïwan Confederation of Union Trade
Labor Regulation Bodies

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Find more on GlobalTrade.net about Operating a Business in Taiwan.
 
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