Opening a Company -- UPDATE

Hi everyone!

I know this topic may not be new but since it looks like the Taiwanese Government recently reviewed the rules for opening a company I would like to have updated news from those who are already into it.
I am a translator who relocated to Taiwan around one year ago. From next summer I will no longer be under the “umbrella” of the student ARC so I am starting considering which is the best option to keep staying and working in Taiwan. No intention of getting married at the moment :no-no: and I would like to avoid going in and out every three months.
My job is a free-lance job so I guess that opening a one-person (I don’t know the exact term for it) company would be the best option. What I am wondering about is:

  • The government decided to waive the minimum initial investment but wrote on the website that some authority has to approve my plan. Someone knows what this passage is about? Which are the criteria to assess if my plan is good or not?
  • Is there a minimum profit that has to be shown after one year or something?
  • If I open a company on my name can I be my own and only employee? Is this enough to make me eligible for an ARC? How long will this ARC last for?
    MOST IMPORTANT: is anyone of you (or anyone of your friends/acquaintances) in my same situation or has already opened a company as a translator?

Thank you very very much for sharing your experience. Every little contribution will be much appreciated :notworthy: :notworthy:

This is something I also need to look at since I’ll be doing the same in a year or so. i doubt you’ll be able to sponsor your own ARC though. I’m not sure how it would work but i think your company would have to be making significant money if that was even possible.

I also do freelance translation and at one time looked into starting my own business to get residency here in TW…in the end, it didn’t seem to be worth the time and trouble.

The highly useful and relevant threads you need are hidden away in a subsection of a subsection of the money forum. :unamused:

forumosa.com/taiwan/viewtopi … 89&t=98589

forumosa.com/taiwan/viewtopi … 89&t=82577