Set Up a Consulting Company in Taiwan
Updated on Wednesday 07th August 2019
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A consulting company in Taiwan is set up with the purpose of providing a wide range of consulting services to other businesses. Consulting companies can also offer professional assistance to natural persons interested in investing in a given sector, not only to other businesses.
Businessmen who want to open a company in Taiwan as a consulting business should know that this type of activity can be oriented towards specific economic activities or it can provide consulting services to any company that is interested in improving its performance on a given market.
Our team of consultants in company registration in Taiwan can provide in-depth assistance on the steps related to opening a local company. Investors can also opt to be represented in front of the local authorities by our specialists and this can be done by granting the power of attorney.
What is the purpose of a consulting company in Taiwan?
A consulting company in Taiwan is registered with the purpose of providing tailored advice to other businesses which seek for specialists in various fields and who can analyze the current situation of a company, with its strengths and weaknesses. Thus, consulting companies in Taiwan must hire specialists who have an in-depth expertise in accounting, finance or human resources.
Also, such persons can have an in-depth knowledge of the legal system available in Taiwan (this can refer to the commercial legislation or to laws addressed to specific industries), but also on the taxation regulations available here. Consultants in Taiwan can also provide tax minimization procedures, which can help companies in reducing their level of taxation. Besides these, consulting companies in Taiwan should also be prepared to provide their services to various management levels of a business, as follows:
- consulting services designed for the company’s operating structure;
- consulting services related to the company’s management structure;
- consulting services created to implement better marketing strategies;
- consulting services related to the company’s public relations policies and communication;
- consulting services regarding all the structures of the company.
What are the main types of consulting companies?
There are several types of consulting companies that can be set up at a global level, as well as in Taiwan. There is no legal obligation to provide all the above mentioned services, as each consulting company in Taiwan can establish what types of services it wants to offer on the local market. However, one of the most common ways to start a consulting company in Taiwan is by opening a management consulting firm.
Those starting a company in Taiwan must know that in this case, the consulting specialists will work closely with their clients, gathering as much data on their company and the industry in which the company operates and will estimate, based on the information obtained, what is the most suitable decision the company should take next.
Although the management consulting companies are very common, they are not in charge with implementing the recommendations offered to their clients; they provide a model the company should follow, which is then implemented by the company’s management structure. Even though the business model offered by the consulting company can be very reliable, if the company’s management does not have the necessary skills to implement the system, the company may not observe any relevant improvements.
This is why nowadays consulting companies are also formed as implementation agencies. Those who want to open a company in Taiwan must know that consulting companies can, in this case, be involved in the company’s daily activities and take part in launching a new product, reorganize the company’s sales policies and others.
What is the climate for foreign investments in Taiwan?
Businessmen interested in starting the procedure of company formation in Taiwan should know that the highest level of foreign investments is registered in economic sectors such as services, the production of electrical and electronic products, metal products or chemical products. Our team of consultants in company registration in Taiwan can provide information on the foreign investment laws; investors should also know the following:
- during January-September 2018, the foreign investments in Taiwan increased by 38.9% (compared to the same period of the previous year);
- the total level of investments for the respective period stood at $7.2 billion;
- in the same period, the country registered 1,661 new foreign companies;
- foreign companies invested a total of $411,9 million in the respective period;
- in 2017, the level of trade between Taiwan and the European Union accounted for EUR 50,2 billion ($58,21 billion).
Businessmen are invited to contact our team of specialists in company registration in Taiwan for more information on how to enter the consulting sector in this country. Our representatives can offer advice on the tax requirements that must be met by this type of business.