Corporate Bank Account Opening
Taiwan Corporate Bank Account Opening
As the Taiwan government revised the Money Laundering Control Act in 2018, it is becoming more and more difficult to open a corporate bank account in Taiwan.
For bank account opening in Taiwan, we can work with the banks in Taiwan to speed up the process. We will help you to match with the most suitable bank based on your business background and needs.
If the representative of the Taiwan company can visit Taiwan and open a bank account directly, the representative will need to be present and stay 1 day for corporate documents signing and bank account opening as the bank requires verifying your signature in person.
If the representative cannot be present in Taiwan, we can support opening a bank account remotely. The documents will be prepared by us for the legalization in your country. You can choose the bank you already have business with or we can refer to a local bank for you.
Benefits of our service for you:
- Save your time to communicate with bankers and avoid any miscommunication
- Professional experience and advice
- All documents will be prepared and submitted by us
Key features of our service include:
- Select the proper bank based on your special requirements
- Check with the bank for the required condition and documents
- Documents collection and preparation
- Arrange the meeting with the banker
- Accompany you to the bank to facilitate the bank account opening
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Frequently Asked Questions
DO I NEED TO VISIT TAIWAN DURING THE BANK ACCOUNT OPENING PROCESS?
The Taiwan banks can be categorized into 3 main types, government-owned banks, private-owned banks and foreign-based banks. Some banks can accept a Power of Attorney (POA) instead of visiting Taiwan in person.
Government-owned local banks
It is very easy to open a bank account in government-owned banks. However, they do not accept the POA for bank account opening and request the representative personally to visit the bank in person;
Private-owned local banks
They provide more flexibility to clients as they are more aggressive to attract customers. However, each bank has its own policy and the relationship is also important;
Foreign-based banks
Foreign-based banks provide the most flexibility for bank account opening to clients. For example, some banks accept POA and some banks will arrange web meetings. However, they usually set certain requirements, e.g. annual sales, capital amount, certain industries. Their target clients are usually large-sized and multinational companies.
WHAT IS THE KEY ISSUE I NEED TO CONSIDER IN CHOOSING THE BANK IF I WILL CONTROL THE BANK ACCOUNT REMOTELY FROM OVERSEAS?
You need to consider whether the bank provides an English e-banking system and English communication support. As most banks mainly target local customers, it is not easy to find a bank with proper English support. We suggest you find a local agent with good experience of bank account opening to support you on it.
Should you need further assistance regarding Corporate Bank Account Opening Services, please feel free to contact us via email: [email protected]
