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Company Formation Comparison: Singapore Vs. Taiwan

Company Formation Comparison: Singapore Vs. Taiwan

Asia in an important investment destination for European and American investors because of the cheap and well-prepared work forces countries in this part of the world offer, but also due to the import and export facilities they offer. Free trade zones are a good example of these facilities which are completed by the access to numerous waterways.

Singapore and Taiwan are two major investment destinations in Asia and many foreign enterprisers are inclined to conduct serious due diligence procedures in order to decide what country is best to open a company in. This article will present a brief comparison between the Singapore company formation procedure and the company registration process in Taiwan.

Our company registration agents can assist foreign investors interested in opening a company in Singapore.

Company formation in Singapore

For several years now, Singapore is among the countries and cities best ranked in the world in terms of doing business and easiness of obtaining a visa. This is why many foreign investors relocate and open companies here. The company formation procedure in Singapore is also an easy and straightforward one, considering there is no minimum share capital required to register a private limited liability company. The same type of company is also preferred in Taiwan which is something the two countries have in common.

Opening a Singapore company implies the following steps:

  • – choosing and reserving a company name;
  • – preparing the incorporation documents;
  • – filing the documents with ACRA and obtaining tax and GST numbers;
  • – making a company seal;
  • – registering for social security purposes.

It takes no more than a few days to complete these steps. Foreign investors will also need to appoint company registration agents in Singapore to carry out this process.

How to register a company Taiwan

When comparing the registration of a company in Singapore with the formation of a company in Taiwan, a foreign enterpriser should take into account that the process takes a longer in Taiwan as there are a few additional steps to be completed. One of them refers to the office space of the company which must be located in a commercial building. There are no such impositions in Singapore, which is why it also cheaper to start a business in the city-state. Another additional step to be followed when opening a company in Taiwan compared to Singapore is the share capital must undergo a verification with the Ministry of Economic Affairs in Taiwan which will determine of the amount is sufficient to have an operational business.

If you have chosen Singapore over Taiwan and need assistance in starting a business, please contact our company formation agents in Singapore.