The first step to register a Taiwan company is to select a company name and business items. The investor is required to proceed the company name pre-check and reservation in MOEA. The validity period of company reservation is within 6 months from the date of reservation. If expired, the application of extension is necessary.
The applicant shall be the promoter or the designated responsible person for the Taiwan company. In the circumstance of a juridical person shareholder, the name of representative to proceed the rights on behalf of shareholder is necessary to fill out.
The company name is only allowed to be in traditional Chinese and be named from the words recognized in Chihai, Kangxi, or other dictionaries compiled up by Ministry of Education. It is accessible for the company name to include the word of region, or the nature of business, industry, enterprise, firm or other profit-seeking organizations, such as Taichung Amusement Enterprise Company Limited.
You may wonder what about if the two companies are fully corresponsive but the nature of business is different, is it counted as repetitive company name? The answer is no. Even if the company names are identical, the nature of business stated on the company name is distinguishable, such as "Xin Xin Electronic" and "Xin Xin Machinery", “Secom Security" and "Secom department store", "Chinese Enterprise", "Chinese" and "Chinese Industry", "Sun Engineering" and "Sun Technology", "Wanglai Information" and "Wanglai Enterprise", “President Chain Convenient Store" and "President Chain Industry" and so on.
In the circumstance of different organizations, the name will be repetitive, like "Happy Company Limited" and "Happy Company Limited by Shares". In addition, some words are unable to be used for distinguishing. For example, putting the word new, good, old, big, small, real, genuine, original, pure, and those similar words are not counted, and so do the words "Happy", "New Happy", and "True Happy" recognize as the identical names.:
Besides, the following words are prohibited to put in the company name
Management Office, Service Center, Welfare Center, Activity Center, Development Center, Research Center, Farmer Union, Fishery Union, Guild, Labor Union, Institution, Association, Convenience Shop, Cooperative, Seminar, Production and Marketing Groups, Research Groups, Business Office, Home and School Club, Sorority, Mutual Aid Association, Service Station, College, Academy, Museum, Community, Temple, Foundation, Organization, Charity, Volunteer, Club, Consortium or other words which may be misinterpreted as government entity and public welfare group easily.
If you have related questions about the company name, please feel free to discuss with our Kaizen groups for professional consultancy. We also provide you with company registration, accounting, bookkeeping and other related services.
Disclaimer
All information in this article is only for the purpose of information sharing, instead of professional suggestion. Kaizen will not assume any responsibility for loss or damage.
When starting a business in Taiwan, one of the first legal decisions entrepreneurs face is whether to establish a “company” or register as a “sole proprietorship”. Many entrepreneurs tend to confuse the two; however, under Taiwan’s dual regulatory framework governed by the Company Act and Business Registration Act, these entities differ fundamentally in terms of legal personality.
In Taiwan, every company is required to have a registered business at the time of incorporation, commonly referred to as the company’s registered office. Many people assume that the registered office is the same as the place where the company conducts business operations and opens for daily business activities.
In Taiwan, companies can be categorized into three types: limited company, limited company by shares and foreign branch office. According to Taiwan’s Company Act, when establishing a company, the founders (shareholders) must hold a meeting to determine the company’s capital amount.
A Taiwan limited company by shares is required to appoint at least one supervisor to oversee and conduct audits of the company’s operations. The primary purpose of supervisor role is to serve as a check against the board of directors, ensuring that the rights of general shareholders are not infringed upon and that directors do not abuse their powers for personal gain.
