2013-11-04
Proposed Abolishment of Recognition Requirement for Foreign Companies
According to news reports of 30 October, Taiwan’s Ministry of Economic Affairs (MOEA) plans to abolish the requirement that foreign legal persons be recognized before operating in Taiwan as set forth in Taiwan’s Company Act.
Under Taiwan’s Company Act, a foreign company may not operate within the territory of Taiwan unless it has been recognized by the relevant authority and has completed the procedure for branch office registration. MOEA proposes to remove such recognition requirement in order to simplify foreign investment procedures and to align Taiwan with international practices.
According to news reports, the proposal is currently being reviewed by the Executive Yuan.
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