That’s a thorough explanation. Much appreciated.
I have my ARC till July 2022. (1 year given after graduation). You mentioned there is no “sole proprietorship” in Taiwan, but I read about it on onestop.nat.gov.tw. In addition, they state that a sole proprietorship doesn’t need a work permit since the proprietor will be self-employed. I don’t know if things are different in reality…You might be right.
What you’re thinking of in terms of sole proprietorship doesn’t exist. is not available for the run of the mill foreigner without an open work permit. Here it’s always an LLC. The words ‘Sole Proprietorship’ are used in regards to how many people own the company, as opposed to a partnership etc…
It’s still an LLC. In English common law countries, yes a Sole Proprietorship is also about responsibility. But here, it’s always limited liability. It is in practise, always a limited liability company for a foreigner without work rights.
If you’re a foreigner. You need a work permit.
Also. I recommend waiting UNTIL about a month after you complete THREE years on your ARC before starting. Opening a business, you’ll need to invest $500000 TWD into the business to get a work permit. On the third year, you’ll need to prove you gross $3 million over the course of the year to get a new work permit. I recommend waiting until you safely complete your third year so that when the work permit is about to expire, you can get your APRC and not need to prove the $3 million revenue.
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Maybe I need to check with the immigration for the APRC because I have never worked here. I did a master degree here and that’s it.
Is it a student ARC right now?
Yes it is. The university name is on it but I am a graduate now.
Doesn’t getting an APRC have certain financial requirements?
No. It only requires you reporting a minimum personal income that is twice minimum wage.
Not just report, you need to prove.
No you don’t. I just did it and received an APRC.
I’ve been in possession of an APRC for over a week now.
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You din’t have to show any documents proving your financial state?
It’s the same as any other job. File. Report. Of course show the document.
I think my situation as a graduate is another story.
Yeah. Student ARCs don’t count time. Might as well be fresh to the country. That means, on your third year, you need to work your ass off making that $3 mil in sales.
This is a lot, God knows. I will try to contact the CPA and see how it goes. Thank you Marco
The CPA’s job is to save you money, make it convenient and keep you from trouble. You’re in good hands.
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Nice trick. Very smart.
A lot of it was learned through trial and error. I made a lot of mistakes and now I impart my knowledge.
This might be off topic, but I’ve been looking into the business registration process recently, and I don’t think that is correct. I’ve been able to definitively determine that the concept of a sole proprietorship definitely exists in Taiwan and is not a variant of another kind of structure like an LLC. What I haven’t yet got to is how to register and run one. Since most company registration information comes from MOEA and MOEA registration may not be required for sole props (current guess is it’s just a tax office thing), I’m not surprised by this.
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The Ministry of Economic Affairs once confirmed to me that Taiwan has sole proprietorships (see this thread for context: Remote income from overseas - Taxes? - #26 by qwert_zuiop ):
However, I did not pursue this further.
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Yes, it has sole proprietorship, most small registered businesses are sole proprietor. You can even choose to issue receipts are just put the yellow sticker.