Taiwan

The ISO code of Taiwan is TW according to the ISO 3166 standard. The local name of the country is Tai-wan. Taiwan capital city is Taipei. People in Taiwan speak the Standard Mandarin language. On 1 January 1912, Taiwan emerged as a sovereign political entity. In the year 01/01/1912, Taiwan emerged as a sovereign political entity. The largest city in Taiwan is Taipei.

Taiwan is located in the UTC +08:00 time zone, which is also called China Time or CNT. The internet country code top-level domain (ccTLD) for Taiwan is .tw. Other domains assigned to Taiwan are .台湾, .台灣, .asia, .taipei. The International dialing code for Taiwan is 886. People in Taiwan drive on the right side of the road. Total land area of Taiwan is 35,980 km² (approx. 13,892 mi²). Taiwan is not a landlocked country. It means that is is bordered by at least one major body of water.

Taiwan is located in Asia. Taiwan is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.

Currently Taiwan faces various issues, including air pollution, water pollution from industrial emissions, raw sewage, contamination of drinking water supplies, trade in endangered species, low-level radioactive waste disposal.

Doing business in Taiwan

We offer various corporate services in Taiwan jurisdiction. These services can serve both, people coming from Taiwan and foreigners. If you plan on doing business in Taiwan you might be interested in contacting us.

To find out about starting your business in Taiwan click on company formation in Taiwan.

To find out how to open a bank account in Taiwan and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Taiwan.

Choose preferred service below or continue reading to find out more about Taiwan.

Company formation Bank account (Corporate)Available banks Bank account (Private)

Demographics of Taiwan

The total population of Taiwan is 23,694,089 people. In Taiwan, the population density is 647 people per square kilometer (1,683 per square mile). Because of this statistic, this country is considered to be very densely. The ethnic diversity is diverse according to a fractionalization scale which for Taiwan is 0.2744. Taiwan has approximately 637843 foreign immigrants. The median age is approximately 39.2 years. In Taiwan, 80 in every 100 people use internet.

The majority religion of Taiwan is folk religions, Taiwan is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Taiwan.

Culture of Taiwan

People in Taiwan speak the Standard Mandarin language. The first McDonalds in Taiwan was opened on 28 January 1984, and it was located in Taipei City, Taiwan. One of the most popular national dishes of Taiwan is beef noodle soup. To read more click on culture of Taiwan.

Geography of Taiwan

Taiwan is considered to be a large nation because of its total area. Its total land area is 35,980 km² (approx. 13,892 mi²). Taiwan is located in Asia. Its capital city is Taipei. Taiwan has no land borders.

The highest point of Taiwan is Yu Shan, with its official height being 3952 m (12,967 ft). Including land mass and EEZ, the total area of Taiwan is approximately 119,211 km² (~46,027 mi²). The most notable natural resources found in Taiwan are coal, natural gas, limestone, marble, asbestos, arable land.To read more click on geography of Taiwan.

Economy of Taiwan

The currency of the country is New Taiwan dollar. The symbol used for this currency is $, and it is abbreviated as TWD. 3.9% of population in the country are unemployed. The total number of unemployed people in Taiwan is 924,069. Each year, Taiwan exports around $305.8 billion and imports roughly $268.5 billion. The Gini Index of the country is 33.8. The Global Peace Index (GPI) for Taiwan is 1.657. Taiwan has a government debt of 36% of the country's Gross Domestic Product (GDP), as assessed in 2012. Taiwan is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are electronics, communications and information technology products, petroleum refining, chemicals, textiles, iron and steel, machinery, cement, food processing, vehicles, consumer products, pharmaceuticals.

The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Taiwan is $1,078,792 billion. The corporate tax in Taiwan is set at 17%. Personal income tax ranges from 6% to 40%, depending on your specific situation and income level. VAT in Taiwan is 5%. To read more click on economy of Taiwan.

Infrastructure of Taiwan

Infrastructure quality in Taiwan is rated to be at 3.64. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.

There are 6,272,000 internet hosts in Taiwan. Taiwan has 37 airports nationwide.

The logistics performance index of Taiwan is 3.72. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.

Tracking possibilities for shipments are rated at 3.79. It indicates a good performance - the tracking systems provide detailed and up-to-date information about most of the parameters of shipments, as well as often transcend national (both political and linguisitc) barriers and may be qualified as international shipment tracking systems.

The number of road motor vehicles per 1000 inhabitants in Taiwan is 253. To read more click on infrastructure of Taiwan.

Politics of Taiwan

Taiwan, is a unitary semi-presidential constitutional republic. With regard to political and civil freedoms, Taiwan is 1. Citizens in Taiwan experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Tsai Ing-wen.

According to the World Bank Group, the government effectiveness index of Taiwan is 1.37. This indicates that the government of Taiwan is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.In Taiwan, the legislative power is vested in a Legislative Yuan. The Global Peace Index (GPI) for Taiwan is 1.657. To read more click on politics of Taiwan.

Environment of Taiwan

Taiwan emits 10.98 metric tons per capita of CO₂. 21588 km² of Taiwan's territory is covered in forests. and forest land comprises 60% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Taiwan is 253. To read more click on environment of Taiwan.

Company formation in Taiwan

The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Taiwan.

When establishing a company in Taiwan, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Taiwan that will affect the establishment and growth of one's business. Contact us or click on company formation in Taiwan to read additional information when setting up a business.

Bank account opening in Taiwan

With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Taiwan. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.

When considering opening a bank account in Taiwan, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Taiwan or contact us.