Local accountants rip-off artists?

Well, I am currently trying desperately to get myself a hang hao with an export license for some part time stuff.

Regulations state that you have to deposit NT$500.000 into an account.

In the past, accountants have offered to lend you the money for 3 days for a fee, usually NT$5000, however due to a government crackdown, most, but not all, have stopped this practice, leaving you on the mercy of your friends, inlaws etc.

I have located an accountant willing to put up the money for the required 3 days.

Now, I have been warned that accountants willing to do this are the black sheep, and that they might try to misuse your (wifes) ID number for all kinds of fraud.

Any views on this?

Yes, that’s how my friend set up a company.

Didn’t know about the crackdown.

Can you wait? Or is this a seachange in the way things are done?

How long would it take for you to get the money together?

Could a credit card cover that amount? Esp. if it’s only three or four days.

Also, make sure the ‘bond’ is returnable.


I did inquire about that, and was told that the NT$500k bond would be put up by them - I don’t think that they will grant me access to the account while them monies are in there. However, as most accountants have stopped the practice (we could only find 1 down here willing to do so), I am a bit weary, esp after having been fed horror stories from my Taiwanese extended family, who all seem to have heard of someone bring defrauded by their accountant. (I don’t know what you can do with a photocopy of an ID, but probably something). My rationale is that if most stop, then there must be a risk somewhere.

I can get the money from other sources, such as credit cards etc. but would rather deal with one loan shark only.

If some of you have registered a company recently, then I would like to hear. I have an overseas client, who is losing patience, so i am somewhat in a hurry.