Has anyone had any luck with getting a company mortgage for an office without a local Taiwanese guarantor?
Some of the usual foreigner friendly banks like HSBC, Standard Chartered, DBS don’t offer corporate mortgages so you’re stuck talking to the local banks, who will probably ask for Taiwanese guarantors. So you have to talk your way all the way up to their 經理 and convince them that you’re trustworthy. ESun failed me here so I have to talk to other banks. Also company mortgages take 3 weeks to approve since they need to review your past 3 years company tax returns, 401s, invoices, sales, contracts, bank passbook transactions, business model etc. and they’ll question you a lot on sales and expenses and ask you for the contracts.
I’ll report back if I have any success
Yeah this was covered by Llary in 2006 on this forum on how to get loans as a foreigner with no local guarantor. can search his name and posts on this. Llary moved to Taiwan as a business investor. His company manufactures records, you know the 12 inch and 45’s that were used before CD’s. They now also outsell CD’s.
Another expat friend of mine in Taipei got an NT$10 million loan for his business he has no local partner. Yes they looked at his company records and did due diligence.
This one? Best bank for foreigner mortgages?
It’s talking about a personal mortgage. I’m looking at a corporate mortgage for commercial property.
He has done posts on both. I visited some of the commercial property he got loans for.
I think he deleted some threads he started on these things.
Couldn’t seem to find it, I scanned his post history back to 2006
He might have posted under a different name. Maybe check other users’ history too.
What were the conditions? 20 years and 2.1-2.2% interest is what I’m seeing at the moment for corporate mortgages.
Some banks like Shanghai Commercial Bank have a limit of 15 years for corporate mortgages. Also I’m referring to a mortgage and not a short term business loan.
I cannot recall as it was over a decade ago. First before his loan he had local partner till he found out he didn’t need one. He needed to expand for manufacturing when I told him to ask his own bank for a loan he thought no way he would get a loan. I told him what Llary had done and he spoke with the bank manager and loans officer. As they had all his banking records and he also had ongoing contracts he got the loan for the business.
So I see you have been here several years and you said your business pays 5 million in taxes so it is not a small business. Only way is to have a meeting with both bank manager and loans officer.