Taiwan Corporate
Bank Account Opening Services
Establishing a Corporate Bank Account in Taiwan
In the wake of the amendments made to the Money Laundering Control Act in 2018 by the Taiwanese government, the task of setting up a corporate bank account in Taiwan has become increasingly complex.
To facilitate the process of bank account opening in Taiwan, we collaborate with local banks to expedite the process. We offer assistance in identifying the most appropriate bank that aligns with your business profile and requirements.
In cases where the representative of the Taiwanese firm can make a trip to Taiwan for the bank account opening, their presence is mandatory for signing corporate documents and opening the bank account, as banks require in-person signature verification.
However, if the representative cannot be present in Taiwan, we can facilitate the remote opening of a bank account. We will prepare the necessary documents for legalization in your country. You may choose to work with a bank with which you already conduct business, or we can recommend a local bank to you.
Why choose our services:
- Save valuable time by letting us liaise with bankers, preventing any miscommunication
- Leverage our professional expertise and advice
- All necessary documents will be prepared and submitted by us
Here's what our services entail:
- Selection of an appropriate bank based on your unique requirements
- Liaison with the bank to understand required conditions and documents
- Collection and preparation of documents
- Coordination of meetings with the banker
- Accompaniment to the bank to ease the bank account opening process
Common Questions about Corporate Bank Account Opening in Taiwan
Taiwanese banks can be broadly classified into three types – government-owned banks, private-owned banks, and foreign-based banks. Some of these banks might accept a Power of Attorney (POA) in lieu of an in-person visit.
- Government-Owned Local Banks: Opening an account with government-owned banks is typically straightforward. However, they do not acknowledge POA for account opening, insisting on the representative’s personal presence.
- Private-Owned Local Banks: These banks offer more flexibility as they vie to attract clients. However, each bank has its own policy and fostering a good relationship is crucial.
- Foreign-Based Banks: These banks offer the greatest flexibility for account opening. Some banks may accept POA or arrange for online meetings. They generally have specific requirements, such as annual turnover, capital amount, and prefer certain sectors. They mostly target large and multinational companies.
ou need to assess whether the bank provides an English online banking system and English language support. Given that most banks primarily cater to local clients, finding a bank with sufficient English support can be challenging. We recommend that you engage a local agent with extensive experience in bank account opening to assist you.
For more information regarding our Corporate Bank Account Opening Services, feel free to reach us at [email protected].
Premia TNC has the optimal solutions for all your business needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
Feel free to drop us an email too!
[email protected]
Premia TNC has the optimal solutions for all your business needs.
Get in touch today for a FREE consultation.
No hidden costs, no obligations.
Feel free to drop us an email too!
[email protected]
