Noting English Name for Foreign Remittance in the Application for Company Name and Business Scope Reservation

In the past, foreign shareholders could not easily remit the capital contribution to the bank account in Taiwan before setting up a company. Because the corporate name in Taiwan is approved and reserved only in Chinese character, but overseas or foreign remitters may not correctly fill the beneficiary information in Chinese. Therefore, Ministry of Economic Affairs launched a new measure on June 6, 2019! The application for company name and business scope reservation adds a new field to note the English name. As a consequence, the overseas remitters can fill the beneficiary information in English, which noted in the application, and the remitting bank can identify the beneficiary with the English name. Furthermore, the Company Name Reservation Express Services provide for the foreign company applicants to change the application item anytime. Through these new measures, foreign shareholders can start a business in Taiwan more smoothly! Spokesperson:Department of Commerce, MOEA:Deputy Director General, Mi-Shun Chen Phone Number:02-2321-2200 ext. 8323 Mobile:0939-945-897 Contact Person:Department of Commerce, MOEA:Section 1 Chief, Hsu-Tung Hsiao Phone Number:02-2321-2200 ext. 8330 Mobile:0987-626-321