After browsing this forum for days, I found that it’s just a bit addictive. Great job to the moderators. Nevertheless I could not find much about my topic.
Question: I’m from South Africa (another one I know:P) and want to open a business in Taiwan. Say for example I open a hotdog stand and sell hotdogs happily everyday to earn a living, can I apply for a certain VISA doing this?
Thanks,
-------------Drak3
Is your spouse a Taiwanese, or do you have an APRC?
If so yes, if not no.
Hey thanks, no I’m not married but plan to in about 6 months, nevertheless, consider this question from a single point of view.
Thanks.
No.
In theory you can open any business you like but a hotdog stall is not going to get anywhere near the minimum investment or annual sales you need to apply for and maintain an investment visa.
Ok, so I understand (I think) that intial investment is either $250k or $500k ntd for investment-depending on stock or no stock, but I have not found anything about ongoing concerns for receipts. And, when do you have to produce these receipts for proof…meaning, if you open a restaurant or small firm, there will be a period of no receipts as you plan it and develop it where you would have no incoming funds- only outgoing investments. And, likely no profit for a few years- so what would be the condiitons to maintain ARC and business as an ongoing entity? Is there a baseline of receipts say $500,000ntd a yr or is it within x many years you must have a certain gross receipts or???
Thanks in Advance!
From what I’ve been told, you need to have revenue (not profit) of 5x your initial investment to retain your ARC. However, if you have a good reason for why you didn’t reach this, they might still allow you to renew the ARC. Although this will of course be on a case by case basis so there’s no guarantee.
This requirement is insane (imho) for many people who starts up a small business here.
If you invest 5 million you have to match your investment, so there’s an upper limit, but still…
Thanks TheLostSwede. That is insane if true! So I guess if it is 5x, the key is go in low on record…and this is an annual requirement you say from the start of yr 1? So yes, it raises the question of what to do during buildout/formation etc…
Can anyone answer this:
If you have a minimum investment of $250k ntd, and you invest it in y1 and again in y2 and y3, will that investment offset any requirements for revenue? Meaning if you are still investing will that override the revenue requirement as long as you invest? I am just worried a worst case could happen in the early years. But then again, your investment would be $750k and a 5x of that is…$3.750mm ntd…pretty grim for a small start up in this economy…
Thank again!
Well, there’s talk about this being abolished, although someone was also suggesting that if you open up a branch office here, then there are no revenue targets, but I’m not 100% sure if this really is the case or not. A rep. office doesn’t have any revenue targets as it’s not a profit seeking entity, but it would limit you to as what you could do in terms of business here.
It seems quite hard to find information in English about what is and what isn’t the law when it comes to setting up a business here as a foreigner and it’s really starting to bug me. Be aware that most things on the various government websites here is usually at least one if not two or three years out of date. Also the law that allows foreigners to start a business here backdates to 1953…
[quote=“conshynewbie”]Thanks TheLostSwede. That is insane if true! So I guess if it is 5x, the key is go in low on record…and this is an annual requirement you say from the start of yr 1? So yes, it raises the question of what to do during buildout/formation etc…
Can anyone answer this:
If you have a minimum investment of $250k ntd, and you invest it in y1 and again in y2 and y3, will that investment offset any requirements for revenue? Meaning if you are still investing will that override the revenue requirement as long as you invest? I am just worried a worst case could happen in the early years. But then again, your investment would be $750k and a 5x of that is…$3.750mm ntd…pretty grim for a small start up in this economy…
Thank again![/quote]
From what I know, there isn’t any requirements to make profit in the first year, so should be able to get the next two-year visa easily. (First you have one-year visa, then two-year visa.) The revenue requirement starts kicking in around year 2 or 3. Then if your receipts don’t match the requirements – I’m not sure about this part – then you have to match the gap with your own funds so that the receipts do match, or some version thereof. This is explained to me by a small-business owner-friend.
I also know an accountant whose company specializes at setting up businesses for foreigners at good rate, so feel free to private me for that.
Do you have any solid information about this?
As from what I was told by the DOIS the law hasn’t changed yet, but they’re working on it.
Unless you have some hard facts I wouldn’t bet on it, but I do hope you’re right.
DOIS cannot give you accurate information on visas because while they try to be helpful they have no authority over immigration.
Repeat: do NOT ask DOIS/MOEA about visas because with the best will in the world, they are often wrong.
See the following site for everything listed in one handy table: http://www.jusregal.com/English.htm
The reply was to profit making, not with regards to getting a visa or not.
AFAIK you still need to turn in a profit that is 5x what you put in, no matter if you want a visa or not, or they’ll suggest you close down your business in Taiwan.
I think the requirement is that your sales (revenue) have to be 5X what you put in. Not profits.
Sorry, yes, indeed, I wrote the wrong there there… not profit, revenue…
Good discussion. I saw JusRegal’s page before but was not sure if they were legit- if so, it seems you have 3 years to prove yourself financially:
Towards the bottom in the section “Work Permits For Aliens” and under “Manager of the Corporation”:
“Five multiples of sales turnover accomplished in the preceding year or averaged in the past three years, or NT$5 million minimum”
But it also says:
“One-third minimum of Ratio of foreign investment”
So I read the first one as (example), I invest $250k ntd I could have zero revenue in yr 1 and yr 2 but would be safe as long as by y3 I had $3,750k ntd. Thus the average for the 3 years would be $1,250k ntd. So I would have an easy 3 years there
BUT, the latter one, I read as (example) $250k ntd foreign investment one-third of that is only $83,333 ntd…
Huh? anyone makes sense of this? From a logical standpoint if JusRegal is correct I would assume it is the first explanation of the 5x/3 yr average or the $5mm ntd minimum…
Please advise if you know.
Thanks All.