How to open Bank Account in Taiwan ?

What services provide for Bank account opening by Evershine in the Anti-Money-Laundry worldwide business environment? How many local Banks and foreign Bank Branches are in Taiwan? How to use the internet banking function to execute financial control on your Taiwan Entity through Evershine Cloud accounting Services?

Send an email to tpe4ww.elr@evershinecpa.com

Or call
Director Jerry Chu, USA Graduate School Alumni and a well-English speaker
Mobile: +886-939-357-735
Tel No.: +886-2-2717-0515 ext. 103

elr-tw-bank-001
What services does Evershine provide for bank account opening in the rigorous Anti-Money Laundering business environment?

Answer:
As global Anti-Money Laundering regulations continue to tighten, the process of Know Your Client (KYC) for opening bank accounts has become increasingly stringent across all banks. Taiwan is also operating within a rigorous Anti-Money Laundering business landscape.

There are two methods for initiating a bank account opening as outlined below:
(1)
Direct referral from an international bank with which clients have a long-term relationship and which has a branch in Taiwan.
For instance, clients can request an account opening referral from Bank of America (BOA) in the US to BOA’s branch in Taiwan.
You can examine below provided list of 28 foreign banks that have established branches in Taiwan.
(2)
Determine if there is a Taiwan-based bank with a presence in the country where the clients are located.
If such a bank exists, you can approach the overseas banking unit of the Taiwan bank to facilitate the referral.
You can review the list of 37 units of Taiwan’s local commercial banks provided below.

In any situation, Evershine can assist with communication and document preparation.
If your appointed legal representative for the Taiwan entity, whether in the form of a subsidiary, branch, or representative, can be physically present in Taiwan, the chances of successfully opening a bank account are higher.
Evershine’s Taiwan staff will accompany clients to the bank and offer relevant support. However, please note that while Evershine will make its best efforts to assist, we cannot guarantee that bank account opening will be successful with just one visit to Taiwan.

Typically, our clients opt to open overseas bank accounts with banks that have branches in the country where the Holding Company or Subsidiary Company is located, allowing for convenient receipt of foreign funds.
Nevertheless, only a local bank account in Taiwan can be used for paying Taiwan VAT tax, withholding tax, labor insurance, health insurance, pension fund, and other related fees. When clients choose to open a bank account in the Taiwan branch of an overseas bank, they entrust Evershine with the Money Movement Services.
This entails clients transferring the tax amount to Evershine, which then processes payment to the Tax Bureau on their behalf.

elr-tw-bank-002
How many local Banks and foreign Bank Branches are in Taiwan?

Answer:
There is a significant foreign banking presence in Taiwan – 28 foreign banks have established branches in Taiwan.
https://www.banking.gov.tw/en/home.jsp?id=24&parentpath=0,5&mcustomize=FscSearch_BankType.jsp

020

Mizuho Bank Ltd
website
022
Bank of America
website
023
BANGKOK BANK PUBLIC COMPANY LIMITED
website
025
Metropolitan Bank and Trust Company
website
028
The Bank of New York Mellon Taipei Branch
website
029
United Overseas Bank
website
030
STATE STREET BANK AND TRUST COMPANY TAIPEI BRANCH
website
037
SOCIETE GENERALE, TAIPEI BRANCH
website
039
Australia and New Zealand Bank
website
072
Deutche Bank Taipei Branch
website
075
The Bank of East Asia, Limited
website
076
JPMorgan Chase Bank, N.A. Taipei Branch
website
078
DBS Bank Ltd,Taipei Branch
website
082
BNP PARIBAS
website
083
Standard Chartered Bank
website
085
Oversea-Chinese Banking Corporation Limited
website
086
CREDIT AGRICOLE CORPORATE AND INVESTMENT BANK
website
092
UBS AG , TAIPEI BRANCH
website
093
ING Bank N.V., Taipei Branch
website
097
Wells Fargo Bank N.A., Taipei Branch
website
098
MUFG Bank,Ltd.
website
321
Sumitomo Mitsui Banking Corporation Taipei Branch
website
324
CITIBANK, N.A
website
325
The Hongkong and Shanghai Banking Corp. Limited.
website
326
Banco Bilbao Vizcaya Argentaria S.A., Taipei Branch
website
328
Natixis
website
329
PT Bank Rakyat Indonesia (Persero) Tbk., Taipei Branch
website
330
KEB Hana Bank Taipei Branch
website

(above version: 2023/08; subject to change)

At the end of 2020, Taiwan was home to 37 commercial banks.
https://www.banking.gov.tw/en/home.jsp?id=24&parentpath=0,5&mcustomize=FscSearch_BankType.jsp&type=1

004
Bank of Taiwan
02-23493456
website
005
LAND BANK OF TAIWAN
02-23483456
website
006
TAIWAN COOPERATIVE BANK
02-2173-8888
website
007
FIRST COMMERCIAL BANK
02-23481111
website
008
HUA NAN COMMERCIAL BANK , LTD.
02-23713111
website
009
CHANG HWA COMMERCIAL BANK, LTD.
04-22222001
website
011
THE SHANGHAI COMMERCIAL & SAVINGS BANK, LTD.
02-25817111
website
012
Taipei Fubon Commercial Bank Co., Ltd.
02-27716699
website
013
Cathay United Bank
02-87226666
website
015
The Export-Import Bank of the Republic of China
02-23210511
website
016
Bank of Kaohsiung
07-5570535
website
017
MEGA INTERNATIONAL COMMERCIAL BANK CO., LTD.
02-25633156
website
021
CITIBANK TAIWAN LIMITED
02-87269600
website
048
O-Bank Co., Ltd.
02-87527000
website
050
TAIWAN BUSINESS BANK,LTD.
02-25597171
website
052
Standard Chartered Bank (Taiwan) Limited
(02)2716-6261
website
053
Taichung Commercial Bank Co.,Ltd.
04-22236021
website
054
King’s Town Bank
06-2139171
website
081
HSBC Bank(Taiwan) Ltd.
02-66339000
website
101
Taipei Star Bank
02-25575151
website
102
Hwatai Bank,Ltd.
02-27525252
website
103
Taiwan Shin Kong Commercial Bank
02-87587288
website
108
Sunny Bank Ltd.
02-66188166
website
118
BANK OF PANHSIN
02-29629170
website
147
COTA BANK
04-22245171
website
803
UNION BANK OF TAIWAN
(02)2718-0001
website
805
FAR EASTERN INTERNATIONAL BANK
02-23786868
website
806
YUANTA COMMERCIAL BANK
02-21736699
website
807
Bank SinoPac Company Limited
02-25173336
website
808
E.SUN COMMERCIAL BANK, LTD.
02-21751313
website
809
KGI Bank Co., Ltd.
02-21759959
website
810
DBS Bank ( Taiwan ) Ltd
02-66129889
website
812
Taishin International Bank
02-25683988
website
816
Entie Commercial Bank
02-81012277
website
822
CTBC Bank Co., Ltd.
02-33277777
website
823
NEXT Commercial Bank Co., Ltd.
02-8979-7000
website
824
LINE Bank Taiwan Limited
(02)6622-9999
website
826
Rakuten International Commercial Bank Co., LTD.
02-55692688
website

(above version: 2023/08; subject to change)

elr-tw-bank-003
How to use the internet banking function to execute financial control on your Taiwan Entity through Evershine Cloud accounting Services?

Answer:
Evershine will help our clients to open internet banking account to execute financial control remotely from your parent company side.
Evershine provides a Cloud System that comes with Internet Banking services for clients, for various types of payments including payroll.
Our cloud system can customize and generate the file upload format (CSV file format for payments) for the various Banks in Taiwan.
Hence this saves time if we need to do it manually.
Evershine working staff is the maker role and you will be reviewer and approval role in the internet banking of your company.
Hence, reduce your time on manpower whilst maintaining your financial control.
We involve internet banking function with many famous banks in Taiwan so to enable clients to review or/and approve for wire payment to suppliers and employees at any time at any location.
The client does not need to leave the seal (company seal) or/and the stamp (name of representative) to any local staff, to avoid losing financial control.

Contact Us

E-mail: tpe4ww@evershinecpa.com
or
Contact us during office hours  (Taipei and China Time Zone)
Director Jerry Chu, USA Graduate School Alumni and a well-English speaker
Mobile: +886-939-357-735
Tel No.: +886-2-2717-0515 ext. 103

Additional Information

Evershine has 100% affiliates in the following cities:
Headquarter, Taipei, Xiamen, Beijing, Shanghai,
New York, San Francisco, Houston, Phoenix
Tokyo, Seoul, Hanoi, Ho Chi Minh, Bangkok,
Singapore, Kuala Lumpur, Manila, Dubai,
New Delhi, Mumbai, Dhaka, Jakarta,
Frankfurt, Paris, London, Amsterdam,
Milan, Barcelona, Bucharest,
Melbourne, Sydney, Toronto

Other cities with existent clients:
Miami, Atlanta, Oklahoma, Michigan, Seattle, Delaware;
Berlin, Stuttgart; Prague; Czech Republic; Bangalore; Surabaya;
Kaohsiung, Hong Kong, Shenzhen, Donguan, Guangzhou, Qingyuan, Yongkang, Hangzhou, Suzhou, Kunshan, Nanjing, Chongqing, Xuchang, Qingdao, Tianjin.

Evershine Potential Serviceable City (2 months preparatory period):
Evershine CPAs Firm is an IAPA member firm headquartered in London, with 300 member offices worldwide and approximately 10,000 employees.
Evershine CPAs Firm is a LEA member headquartered in Chicago, USA, it has 600 member offices worldwide and employs approximately 28,000 people.
Besides, Evershine is Taiwan local Partner of ADP Streamline ®.
(version: 2022/03)

Please contact us by email : HQ4TPE@evershinecpa.com

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