Q01
If I wish to claim reimbursement for SITI subsidies, Will the attestation of financial statements by certified public accountant report be required?
A01
Yes,Taipei City government will reimburse for SITI subsidies, and require the attestation of financial statements during the project execution report by certified public accountant.
Q02
Can an internal employee of the company serve as a consultant for the Taipei City Industrial Development Incentive Subsidy Program application?
A02
No, consultants must be outsourced manpower.
Q03
How is an enterprise that has been in operation for at least one year defined according to the Taipei City Small and Medium Enterprise Loan Program regulation Third?
A03
An enterprise is considered to have been in operation for at least one year if it has issued its first invoice or has been continuously paying business tax for one year prior to the application date for the loan.
Q04
Is there a minimum capital restriction for establishing a company in Taiwan?
A04
No, there is no minimum capital requirement for setting up a company in Taiwan. However, if you wish to apply for a work permit as a foreign manager, the company's paid-in capital or operational funds in Taiwan must be at least 500,000 NT dollars or more.
Q05
Are foreign subsidiaries qualify to apply for SITI?
A05
NO, foreign subsidiaries are not qualify for application, but foreign branches are qualify to apply for R&D Subsidy, Branding Subsidy, Incubation Subsidy and Investment incentives.
Q06
What is the maximum length of time for a work permit that may be applied for a foreigner hired to work in Taiwan? Is there a maximum number of applications?
A06
The maximum length of time for each work permit is 3 years for a foreign professional, which may be extended by application at the end of the employment; there is no limit to the number of extensions.
Q07
Can a foreigner set up a joint venture with a Taiwanese or a person of a different nationality?
A07
Yes. However, the shareholding structure of the company includes foreign investment and therefore needs to be approved by the Investment Commission(MOEA).
Q08
Can foreigners register a business in Taiwan? How to apply?
A08
Yes, please refer to the Statute for Investment by Foreign Nationals and attach the approval documents issued by the Investment Board, Ministry of Economic Affairs.
Q09
Is there an age limit to apply for a Startups subsidy?
A09
No, there is no age limit. All company registered in Taipei City and within one year can apply for it.
Q10
What is the "Registered Address" refer?
A10
Registered Address is the company's base and commercial legal relationship, not the place of business premises.
