My sympathies.
I gave my CPA power of attorney and he took care of all of this for me while I was out of the country. It took forever, but I skipped the major headache. I signed some papers once I returned and once branch office opened, I switched banks and opened a regular biz account
Our accountant took great pains to emphasize that the initial source of funds for our branch office account had to be from a corp account bearing the parent company’s name and that it had to match the name on the branch office application exactly.
That sounds right. I was opening a standalone company so no need to do that though. As the only shareholder, I just had to show all the money came from me.
1 Like
Must be quite expensive? I paid my accountant 65k for the company setup process and she didn’t even accompany me to open the preparatory bank account so I made quite a bit of mistakes.
1 Like
Yeah, I paid more. I don’t want to talk about it 
3 Likes
The whole process only cost me 2k I think. That was for the capital amount accountant verification
1 Like
Sounds about right, though ours seems a bit more helpful. (Although we just gave PoA to our local office mgr and she got it all sorted, which added to the true total cost by the value of her time of course.)
So I just got a call off CTBC who told me that they can open the 籌備處 today but it will take 6 months to convert it to a real business account… Couldn’t make this shit up…
2 Likes