Migration is defined as a company changes the country where it is incorporated to another, which is equivalent to the change of nationality of company, but the juridical person does still survive. The concept is similar to immigration. In the circumstance that the foreign company owns a company in Taiwan, the application of migration shall be submitted to MOEAIC (MOEA Investment Commission) and submit the change of registration to MOEA (Ministry of Economy Affairs) upon approval obtained from MOEAIC.
How to submit an application to MOEAIC? For example, investor A where the country of incorporation in Malaysia changed into Brunei. The required documents to prepare in advance as below:
Board of member meeting minutes of change of incorporated country of Investor A. If the board of director resolution is required solely by the prescribed laws of incorporation country, it is fine to submit the resolution solely;
The certificate of deregistration in Malaysia (in the way of deregistration as migration);
The registration documents as migration in Brunei of Investor;
The registration documents as migration in Brunei of Investor ,the legal opinion issued by a Malaysia lawyer and the photocopy of certificate of such lawyer;
The legal opinion issued by a lawyer from the new incorporated country (Like Bahama) and the photocopy of certificate of such lawyer;
The original copy of POA.
The legal opinions issued by the lawyer from original and new incorporated country shall be stated the prescribed laws of the accessibility of migration and the rights and duties will not be affected upon migration clearly. Besides, the resolution of migration shall be complied with the prescribed laws of the original and new incorporated country and proceeded the registration or deregistration, or the application of migration may be rejected by MOEAIC
POA and resolution of migration shall be notarized by the local notary or court and submitted the original copies to Taiwan MOEAIC for verification. It is suggested to consult with Kaizen to receive the professional opinion in advance by submitting an application.
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.
Taiwanese individuals who invest in overseas financial products or real estate must file an Alternative Minimum Tax (AMT) return if their total annual foreign-source income exceeds TWD1,000,000 and their basic income surpasses the exemption threshold (TWD 7,500,000 for the 2024 tax year). It is important to note that different types of income, such as capital gains and interest, are categorized seperately and cannot be aggregated for tax calculation purposes.
According to “Tabacco and Alcohol Control Act” in Taiwan, the definition of tobacco is a product made entirely or partially from tobacco or its substitutes, designed for smoking, chewing, sucking, sniffing, or other forms of use. If one plans to import the types of tobacco into Taiwan, it is necessary to apply to the Taiwan Ministry of Finance for a tobacco import business license.
The current business tax thresholds for sales of goods and services in Taiwan are TWD 80,000 per month for goods and TWD 40,000 per month for services. These thresholds are anticipated to increase to TWD 100,000 and TWD 50,000, respectively, following revisions to the relevant regulations. The updated regulations are expected to be previewed at the end of October 2024, with implementation scheduled for January 1, 2025.
Labor regulations in Taiwan undergo revisions every year in response to social and economic developments, as well as changes in the labor market. In 2025, Taiwan’s labor regulations will undergo several significant changes aimed at further protecting workers’ rights, improving working conditions, and promoting corporate compliance.
