Hong Kong vs Taiwan

You register a private company limited by shares with the Companies Registry and obtain the Business Registration Certificate from the Inland Revenue Department through the one-stop service. The company gets a Certificate of Incorporation and a business registration number; there is no minimum share capital.

You reserve the company name with the Ministry of Economic Affairs (MOEA), verify the paid-in capital through a CPA, and register the company with the MOEA. Foreign investment needs approval from the Investment Review Office; after registration you complete tax registration and receive a unified business number.

For a personal account you need a valid passport or HKID, proof of address and, for non-residents, income and banking references. A company account requires the Certificate of Incorporation, Business Registration Certificate, Articles of Association and identity/address checks on every director and beneficial owner. Hong Kong has no foreign-exchange controls, but non-residents should expect enhanced due diligence (rules tightened in 2026). The HKMA regulates banks and the Deposit Protection Scheme covers eligible deposits.

A valid Alien Resident Certificate (ARC) plus your passport is the standard way to open a personal account; you also need a local phone number, an email and proof of a Taiwan residential address (not a PO box or hotel). Without an ARC you can open a basic savings account at Chunghwa Post using a Record of ID No., and some banks accept a passport with a temporary immigration ID at their discretion. The FSC regulates banks and the Central Deposit Insurance Corporation insures deposits. A company uses its registration documents.

Hong Kong is one of the world's freest economies for foreign investment, promoted by InvestHK. There is no foreign-investment screening, no exchange controls, near-total foreign ownership, and a simple low-tax system. Capital and profits move completely freely, making it a leading base for regional holding and trading companies.

Taiwan attracts foreign investment through InvestTaiwan, but foreign investment generally needs Foreign Investment Approval (FIA) from the Investment Review Division of the Ministry of Economic Affairs. Most sectors are open (mainland-China capital is restricted); incentives support high-tech and innovation, and profits repatriate through banks with reporting.

Hong Kong has a simple, low, territorial tax system: only Hong Kong-sourced income is taxed. Individuals pay salaries tax (with a standard-rate cap), there is no VAT, no capital gains tax and no tax on foreign income; the authority is the Inland Revenue Department.

Taiwan taxes residents on Taiwan-source income at progressive rates (with a separate alternative minimum tax on certain foreign income). You use your ID/tax number, employers withhold monthly, and the annual income tax return is filed in May; business tax (VAT) applies.

Professionals usually enter under the General Employment Policy (GEP) with a job offer sponsored by a Hong Kong employer; talent schemes such as the Top Talent Pass Scheme (TTPS) allow high earners and graduates of top universities to come without a prior job. You apply to the Immigration Department.

Skilled foreign professionals can use the Employment Gold Card, a combined work permit, resident visa and residence permit; otherwise the employer applies for a work permit from the Ministry of Labor and you obtain a resident visa and an Alien Resident Certificate (ARC).

Hong Kong employment under the Employment Ordinance sets a statutory minimum wage, paid annual leave rising with service, rest days, and — for those on a 'continuous contract' — sickness, holidays, and long-service or severance payments. MPF pension contributions are mandatory, and the Labour Tribunal resolves disputes.

Taiwanese employment under the Labor Standards Act sets a statutory minimum wage, special (annual) leave rising with service, a 6% employer pension contribution, and labour insurance plus National Health Insurance. Dismissal needs statutory grounds with severance and notice, and disputes go through mediation and the labour courts.

Hong Kong is a free port: there is no customs tariff or general import duty, and no VAT or GST. You lodge an import or export declaration with Customs and Excise (within 14 days, via the electronic trading services) and pay a small declaration charge. Excise duty applies only to liquor, tobacco, hydrocarbon oil and methyl alcohol; some goods need a licence.

Taiwanese trade clears through the Customs Administration. Traders register with the Bureau of Foreign Trade, classify goods by the CCC code (HS-based), and pay import duty plus 5% business tax (VAT) and, on some products, commodity tax. Declarations are electronic; certain goods need import permits.

Hong Kong trademarks are registered with the Trade Marks Registry of the Intellectual Property Department (IPD). You search the register, file under Nice classes, and after examination the mark publishes for a three-month opposition period before registration. A Hong Kong trademark lasts 10 years and is renewable; China's Madrid membership does not extend to Hong Kong, so file separately.

Taiwanese trademarks are registered with the Taiwan Intellectual Property Office (TIPO). You search the register, file under Nice classes, and TIPO substantively examines the mark before registration, with post-registration opposition available. A Taiwanese trademark lasts 10 years and is renewable; Taiwan is not a Madrid member, so file directly.