Doing Business in Taiwan Guide by Doing Business Guides

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Doing Business in Taiwan

Panoramic view of Taipei city at sunrise

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Together we thrive Issued by HSBC Bank (Taiwan) Limited

CONTENTS 11

9 Taiwan overview

Welcome from Lesley Batchelor OBE, FIEx (Grad) â&#x20AC;&#x201C; Director General, Institute of Export & International Trade 13

Foreword from Steve Firstbrook, Head of International Trade & Investment Taiwan, Department for International Trade 15 About the Department for International Trade (DIT) 17 About this Guide

Why Taiwan?

www.Taiwan.DoingBusinessGuide.co.uk

Why Taiwan?

Help available for you

20 21 22 23 30 34

37 38 39 40 41 43

46 47

48 49

• Summary • General overview • Taiwanese authority overview • Economic overview • Overview • Support from the Department for International Trade (DIT) • Support from the British Chamber of Commerce in Taipei (BCCT) • Support from the Institute of Export & International Trade (IOE&IT) Getting here and advice about your stay • Entry requirements • Safety and security • Natural disasters • Health • FCO travel advice

Sector-specific opportunities • Background • Construction • Consumer goods • Electronics, semiconductor and display • Environment • Financial services • Low carbon economy • Transport

CONTENTS 51

53 55 57

58 60

61 63

66 67

Preparing to export

• Consultation and bespoke research • Start-up considerations • Getting paid in Taiwan How to do business in Taiwan

• Legal considerations • Tax and customs considerations • Customs and documentation • Shipping your goods

Business etiquette, language & culture

• Overview • Taiwanese public holidays What are the challenges? • Overview • Business risk

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Contact: Che-Hung Chen, Esq. Tower, ADD: Bank Tower T owerr, 12th F Floor 205 Tun Tun Hwa North Road, Taipei Taipei 105, T Taiwan aiwan FAX: AX: 886-2-2514-7510 TEL: 886-2-2715-0270 F Email: chchen@chenandlin.com

CONTENTS 79

Resources 79

Resources

What does membership of the Institute of Export & International Trade mean?

Focusing on qualifications. Lesley Batchelor OBE, FIEx (Grad) â&#x20AC;&#x201C; Director General, Institute of Export & International Trade

British Office Taipei

s t

85 87

Supporting organisations contact details

Market experts contact details Useful links

Map of Taiwan

Quick Facts

Trade shows

SUPPORTING ORGANISATIONS

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View this guide online

Website and Mobile App features include: • Latest business news • Up-to-date travel advice • Interactive ‘Supporting Organisations’ and ‘Market Experts’ profiles • Essential contact details • Listings with links to up-and-coming trade shows • Links to the Department for International Trade (DIT) support services. Powered by

Taiwan overview Taiwan is a stable, vibrant democracy with a free press and independent judiciary, and there is a large British business presence in Taiwan. One of Asia’s “Four Tigers”, along with South Korea, Singapore and Hong Kong, Taiwan has transformed itself through decades of hard work into a well-industrialised and mature capitalist economy. From being an underdeveloped, agriculturebased island, Taiwan has grown to be a dynamic world-class leader in technology. British businesses are highly visible in the Taiwanese domestic market, and trade links with Europe continue to grow. There is a substantial market for infrastructure consultancy and products, financial services, high-value manufacturer supply chain, chemicals and a growing demand for creative industries and for green technology and services. This is a sophisticated market for consumer goods, particularly for international designer labels.

Benefits for UK businesses exporting to Taiwan include the liberalisation of banking, insurance and securities sectors, it is a major platform for business with China and an offshore centre for the Renminbi (RMB) – China’s official currency, it has a sound legal environment with comprehensive protection of Intellectual Property Rights (IPR), and there are high levels of consumer disposable income.

MARKET EXPERTS

Thank you to our Market Experts

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& INTERNATIONAL TRADE

The Art of Export Choosing a great export training partner can really help your company take off in the export trade! We can help develop new ideas and find ways to drive down costs and produce sustainable improvements in your export business.

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Join us today Call: +44(0)1733 404 400 email:

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I N AT O N A

Welcome from Lesley Batchelor OBE, FIEx (Grad) – Director General, Institute of Export & International Trade Located at the heart of Asia-Pacific, Taiwan is one of the most competitive places in the region. This Doing Business in Taiwan Guide will help prepare UK businesses that are looking to trade with this dynamic market. With a population of 23.6 million, Taiwan boasts a vibrant market economy and can be a highly attractive export market for UK businesses. It is an important gateway to emerging Asian Markets, particularly to China where it enjoys preferential access to the Chinese market. This Doing Business in Taiwan Guide will help prepare UK businesses who are looking to trade with this sophisticated and established market. Taiwan has a sophisticated consumer market with strong demand for high-quality products. UK businesses can also find excellent opportunities in electronics, communications, transportation and infrastructure. For Taiwan to meet its increasing energy needs, there are good opportunities for UK businesses presented in oil and gas. Networking is an important part of doing business in Taiwan as ‘who knows who’ is highly regarded. Most businesses find a local partner or hire a senior manager early on to help forge and maintain robust business networks. Although there are English-speaking business people in Taiwan, it’s helpful and practical to be able to communicate in Mandarin. Recruiting a translator or hiring a bilingual business partner is recommended – especially when you're negotiating contracts or discussing legal matters. Some companies in Taiwan fall into the small to medium-sized category and are family-owned. Concerns focussing on issues which will benefit the business in the long run reside with the head of the family, so all decisions should be taken with reference to that person. Taiwan has the potential to be a valuable market for British businesses and the Institute of Export & International Trade can help guide you through the intricacies of doing business in this fascinating market through our education programmes, training and practical support, our helpline and one-to-one assistance with paperwork. Why not contact us and find out how you can join? Good Luck!

Lesley Batchelor OBE, FIEx (Grad) Director General – Institute of Export & International Trade www.export.org.uk www.Taiwan.DoingBusinessGuide.co.uk

Open to Export is a free online information service from The Institute of Export & International Trade, dedicated to helping small UK businesses get ready to export and expand internationally

How can we help? A wealth of free information and practical advice on our website using: Step-by-step guides covering the whole export journey from ‘Selecting a market’ to ‘Delivery and documentation’

A comprehensive webinar programme covering all aspects of international trade

The online Export Action Plan tool helping businesses create a roadmap to successful new markets

Quarterly competitions for the chance to win £3,000 cash and further support Sign up today to take your next steps in international trade

Foreword from Steve Firstbrook, Head of International Trade & Investment Taiwan, Department for International Trade My team at the British Office work in partnership with the British Chamber of Commerce in Taipei (BCCT) to help UK companies export their goods and services to Taiwan.

Our teams identify Taiwanese buyers, including ministries, local government, state owned enterprises and private firms, and introduce them to UK businesses.

We focus much of our effort on sectors where we think there is the strongest demand for UK goods and services. In Taiwan, these sectors include renewable energy (particularly offshore wind), infrastructure (particularly railways) and nuclear decommissioning. There are also very good opportunities in financial services, technology sectors, food & drink and consumer goods. We can support your company in a number of ways, including conducting market research, organising trade missions, promoting your company at industry events, making introductions and advising you about Taiwanese regulations and best practice for exporting here. UK firms that succeed in Taiwan tend to have an on the ground presence and demonstrate persistence and perseverance. They also recognise that Taiwan is a market where relationships matter a great deal, and many see my team and the BCCT, along with our wide network of contacts, as an extension of their own. I very much hope that we can be part of your firmâ&#x20AC;&#x2122;s Taiwanese success story too.

Steve Firstbrook Head of International Trade & Investment Taiwan, Department for International Trade https://www.gov.uk/world/organisations/british-office-taipei

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Department for International Trade (DIT) (formerly UK Trade & Investment - UKTI) DIT is the British Government department that helps UK-based companies succeed in an increasingly global economy. DIT also helps overseas companies bring their high quality investment to the UKâ&#x20AC;&#x2122;s economy. DITâ&#x20AC;&#x2122;s range of expert services are tailored to the needs of individual businesses to maximise their international success. DIT provides companies with knowledge, advice and practical support.

Through a range of unique services, including participation at selected tradeshows, outward trade missions and providing bespoke market intelligence, DIT can help you crack foreign markets and get to grips quickly with overseas regulations and business practice. With headquarters in London, DIT have professional advisers around the UK and staff across more than 100 countries. Contact DIT

Contact your local International Trade Team or Scottish Development International (SDI), Welsh Government (WG) or Invest Northern Ireland (INI) offices to find out more about the range of services available to you. You can find your nearest International Trade Team at:

www.contactus.trade.gov.uk/office-finder/

General enquiry number: +44 (0) 207 215 5000 Department for International Trade 3 Whitehall Place London SW1A 2AW United Kingdom Email: enquiries@trade.gsi.gov.uk

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About International Market Advisor (IMA)

International Market Advisor (IMA) works with British and foreign government departments, Embassies, High Commissions and international Chambers of Commerce throughout the world. Our work helps to identify the most efficient ways for British companies to trade with and invest in opportunity-rich overseas markets.

During the last ten years IMA has worked with the British Government's overseas trade and investment department, the Department for International Trade (DIT) [formerly UK Trade & Investment (UKTI)], and has written, designed, produced, launched and distributed over one million copies of more than 100 country-specific print and multi-media based reports, guides and publications, including the internationallyrecognised ‘Doing Business Guide’ series of trade publications. These are composed of market and industry sector-specific, multi-format print and digital trade reports, together with some of the internet’s most visited international trade websites - all of which are designed to advise and assist UK companies looking to trade with and invest in overseas markets. These reports and guides are then distributed free-ofcharge through the IMA and DIT global networks - over 500 distribution outlets in total. Further distribution takes place at global exhibitions, roadshows, conferences and trade missions, and IMA receives daily requests for additional copies of the guides from these networks and from businesses considering exporting.

Each of IMA’s 'Doing Business Guides’ is produced in three formats: a full colour, glossy, paper-based brochure; a supporting fully-interactive and updatable multi-media based website; and the website contents available as a free-of-charge downloadable smartphone/tablet app.

The guides’ contents focus on the market in question, how to approach that market and the help and support available, and include informative market overviews, plus details of business opportunities, listings with website links to British and Foreign Government support services and essential private sector service-provider profiles. Sponsoring a ‘Doing Business Guide’ therefore offers a unique opportunity to positively promote your products and services to high-profile business leaders, specific exporters, investors and effective business travellers who will be actively seeking out service providers to assist them in developing their business interests in the targeted markets. For more information on IMA please visit our website:

www.DoingBusinessGuides.com Contact IMA Office address

IMA Ltd 2nd Floor 32 Park Green Macclesfield SK11 7NA Email info@ima.uk.com General enquiries switchboard +44 (0) 1298 79562

Media enquiries

Newsdesk & out of hours +44 (0) 1298 79562

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TAIWAN

Doing Business in Taiwan

ABOUT THIS GUIDE This guide aims to provide a route map of the way ahead, together with signposts to other sources of help.

The main objective of this Doing Business in Taiwan Guide is to provide you with basic knowledge about Taiwan; an overview of its economy, business culture, potential opportunities and to identify the main issues associated with initial research, market entry, risk management and cultural and language issues.

We do not pretend to provide all the answers in the guide, but novice exporters in particular will find it a useful starting point. Further assistance is available from the Department for International Trade (DIT) team in Taiwan. Full contact details are available in this guide.

To help your business succeed in Taiwan we have carefully selected a variety of essential service providers as ‘Market Experts’. The guide is available in 4 formats:

•

website: www.Taiwan.DoingBusinessGuide.co.uk

a ‘free’ downloadable 'mobile device-friendly’ app

this full colour hard-copy brochure

PDF download/e-flipbook (available on the guide website)

Doing Business in Taiwan Guide Team: Project Director:

Craig Smith

Sponsorship Manager:

James Clowes

Managing Editors:

Creative Managers:

Creative Consultants:

Olivia Taylor / Brian Underwood Paul King / Claire King

Twistedgifted www.twistedgifted.com

Production Co-ordinator: Megan Collingwood

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Printed using materials from sustainable sources

‘Doing Business in Taiwan Guide’ published in the UK by International Market Advisor Ltd. © 2018 International Market Advisor Ltd (unless otherwise stated). All rights reserved. Contains public sector information licensed under the Open Government Licence v3.0.

Dragon statue on traditional Taoist temple, Taiwan

TAIWAN

Taiwan is strategically located at the heart of the Asia-Pacific Region. It is a hi-tech, developed economy, and has a stable, vibrant democracy with a free press and independent judiciary.

WHY TAIWAN? www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Doing Business in Taiwan

Why Taiwan? Summary

Area: 36,193 km2 (13,974 mi2)

Annual inflation rate: 0.6%

Population growth rate (change): 0.2%

General authority gross debt: 35.2% of GDP

Population: 23.6 million

Capital city: Taipei

Official language: Mandarin

Currency: New Taiwan Dollar (TWD) Nominal GDP: US $579.3 billion

Real annual GDP growth: 2.8% GDP per capita: US $24,576.7

Unemployment rate: 3.8%

Fiscal balance: -1.8% of GDP

Current account balance: 13.8% of GDP/US $80.1 billion Exports of goods to UK: £3,188 million

Imports of goods from UK: £1,203 million

[Source – mostly FCO Economics Unit, May 2018]

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General overview

Taiwan is strategically located at the heart of the Asia-Pacific Region. It is a hi-tech, developed economy – now the world’s 22nd largest economy according to the latest IMF figures – which plays a key role in global trade, and which enjoys a GDP per-capita in purchasing power parity terms that is higher than Japan, France and the UK. Taiwan accounts for 6-7% of global trade in ICT products and its manufacturing sector accounts for a robust 30% of its GDP. Taiwan’s exports constituted 62.83% of GDP in 2016.

Innovation is a key strength of the Taiwanese economy, which compares well with global competitors on many key indicators. For example, it ranks 15th in the 2017-18 World Economic Forum’s Global Competitiveness Report and 11th overall on innovation. Taiwan ranks 14th in the 2017 IMD World Competitiveness Yearbook, following only Hong Kong and Singapore in East Asia. It also ranks 12th in IMD’s new World Digital Competitiveness Report and takes 13th place to do business with globally, by the Economist Intelligence Unit (EIU) for 2017. See: http://country.eiu.com/taiwan. [Source – FCO Guidance/gov.uk]

Over 300 UK firms have investments in Taiwan, including HSBC, Standard Chartered Bank, GSK, Astra Zeneca, Mott MacDonald, ARM, Arup, and BP.

Contact a Department for International Trade (DIT) Taiwan export adviser at: https://www.contactus.trade.gov.uk/enquiry /topic for a free consultation if you are

interested in exporting to Taiwan. Contact UK Export Finance (UKEF) about trade finance and insurance cover for UK companies, see: https://www.gov.uk/ government/organisations/uk-exportfinance. You can also check the current UKEF cover position for Taiwan at: https://www.gov.uk/guidance/countrycover-policy-and-indicators#taiwan. [Source – DIT/ gov.uk]

Geography Taiwan, referred to by its authorities as the Republic of China (ROC) and formerly called Formosa (lit. “beautiful island”) by the Portuguese, lies 180 km off the southeastern coast of mainland China, separated by the Taiwan Strait. It is an archipelago of 86 islands, with the largest, Taiwan Island, consuming almost 98% of the land mass of 13,900 mi2. To the northeast across the East China Sea it borders Japan and the Philippines to the south across the South China Sea.

An island slightly smaller than Switzerland, the eastern two-thirds of Taiwan is mountainous and rugged, rising to just under 4,000 m. The west, where most of the population live, consists of gently rolling hills. The capital and largest city, Taipei, lies in the northwest. Taiwan lies on the Tropic of Cancer, and has a marine tropical climate with hot humid weather, East Asian monsoons in late spring and typhoons in late summer and early autumn. Owing to major seismic faults,Taiwan is prone to earthquakes, the most recent major one in 1999 killing nearly 2,500 people.

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Taiwanese authority overview

Political situation Taiwan is a stable, vibrant democracy with a free press and independent judiciary. It holds presidential and legislative elections every four years, the next being in 2020, with city mayor and prefecture magistrate elections also held every four years, the next being in late 2018. Taiwan has a population of 23.6 million.

In the January 2016 presidential and legislative elections, the then-opposition Democratic Progressive Party (DPP) won both elections, taking both the Presidency and the majority in the Legislative Yuan from the KMT. President Tsai, a graduate of LSE, took office on 20th May 2016. This was the third peaceful exchange of power between parties since Marshall Law was lifted in 1987 – typically seen as the benchmark for a stable and entrenched democracy. The Tsai administration is focused on a number of domestic priorities: industrial restructuring, reducing barriers to investment, adjusting the current labour system, transitioning to new sources of energy, mitigating social issues arising from a falling birth rate and aging population, tax reform, pension reform and judicial reform.

Cross-Strait relations While the political focus of the current administration is on domestic reform Taiwan’s relationship with China, the “cross-Strait” relationship remains a highly publicised political risk.

The People’s Republic of China (PRC) has claimed sovereignty over Taiwan since the

end of the Chinese Civil War in 1949, when the defeated Chinese Nationalist Party (Kuomintang or KMT) Government fled to the island. China threatens invasion if Taiwan ever declares independence.

While over the last thirty years the cross-Strait relationship has improved, such that there are direct flights across the Strait, and large numbers of Taiwanese business-people live and work in the PRC, tensions occasionally still come to the fore. Following the 2016 election of the DPP, the Chinese Government broke off official contact between the two sides of the Taiwan Strait, setting DPP acceptance of China’s “One China” framework as a precondition for resumption of contacts.

The Tsai administration has repeatedly said that they wish to maintain the status quo and uphold all existing agreements with China. However, they are not willing to accede to China’s demand. As a result of this political standoff, Taiwan’s membership of international organisations – such as Interpol and the World Health Organization – has been blocked or constrained by China.

Despite restrictions on its engagement with international organisations noted above, Taiwan is a full member of the WTO (joining in 2002 under the name of “The Separate Customs Territory of Taiwan, Penghu, Kinmen and Matsu”), and the Asia-Pacific Economic Cooperation (APEC) forum. The UK, like our EU partners, the United States, Australia and other major allies, does not recognise Taiwan as a state, and therefore does not have formal diplomatic relations with Taiwan. Only 20 countries,

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mainly in the South Pacific, Africa and Latin America, formally recognise Taiwan (as the “Republic of China”). The PRC does not protest other countries’ commercial, cultural and other non-political links with Taiwan, but protests anything it views as formal official contact or which – in its view – might encourage Taiwan’s “independence”. [Source – FCO Overseas Business Risk/gov.uk]

Business and human rights Taiwan has constitutional protections of civil rights and legal protections of equality. The constitution protects the right to unionise.

The Labour Standards Law (LSL) provides for minimum employment standards including minimum working age and standards for working conditions and health and safety.

Taiwanese law provides for gender equality with regard to salaries, promotions, and assignments, though men still dominate senior positions. For more information on labour regulations, contact the British Office’s DIT team.

The Taiwanese authorities do not currently recognise same sex marriages or civil partnerships, so there is no provision in law for visas for same sex dependents. In May 2017 Taiwan’s Constitutional Court ruled that Taiwan’s Civil Code, allowing only heterosexual marriage, is unconstitutional. The Taiwanese authorities have until May 2019 to bring their Civil Code into line with their Constitution.

[Source – FCO Overseas Business Risk/gov.uk]

Economic overview

One of Asia’s “Four Tigers”, along with South Korea, Singapore and Hong Kong, Taiwan has transformed itself through decades of hard work into a well-industrialised and mature capitalist economy. From being an underdeveloped, agriculture-based island, Taiwan has grown to be a dynamic world-class leader in technology.

Taiwan’s economy experienced a period of rapid industrialisation in the decades after the end of the Chinese Civil War with average GDP growth rates approaching 9% on average between 1950 and 1999. During this period Taiwan’s economy diversified away from the previously dominant agricultural sector towards industries geared up to meet external demand and became increasingly export orientated. The period saw Taiwan come to be known as one of Asia’s “Four Tiger” economies. The transition continued into the 1980s as Taiwan moved in a more hi-tech direction aided by the establishment of world class industrial clusters beginning with Hsinchu Science Park – today one of the leading global semi-conductor industry hubs – and policies aimed at liberalising the economy. Taiwan today is an advanced and hi-tech export orientated economy. The world’s 22nd largest economy, its exports accounted for 63% of GDP in 2016. Over the last decade, Taiwan has averaged 3.7% annual GDP growth. In 2016, growth moderated to 1.48% though official estimates for growth in 2018 have been revised upwards to 2.29%.

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TAIWAN

Taiwanese firms are world leaders in several hi-tech manufacturing sectors, such as semiconductors, laptops, servers, smartphone components, machine tools and solar panels. Taiwanese firms are also renowned for providing contract manufacturing services, with the most famous example being Foxconn – Taiwan’s largest company by market capitalisation – which manufactures the iPhone on behalf of Apple.

Having historically enjoyed substantial trade surpluses, Taiwan’s foreign reserves were the 5th largest in the world at the end of 2017. Taiwan is a major regional investor, particularly in China and Southeast Asia. Taiwan was China’s 5th largest source of FDI in 2016 attracting US $3.26 billion of investment according to the Chinese Ministry of Commerce. China is Taiwan’s largest overseas investment destination (44.4% of Taiwan’s overseas investment in 2016, down from 50.5% in 2015). Around 80,000 Taiwanese companies are located in China, accounting for an estimated 70% of China’s electronics manufacturing.

Taiwan’s economy does face some significant long-term challenges including: a rapidly aging population, a shortage of skilled labour, rising competition, an overdependence on key export sectors and energy security. To address these, the current DPP administration has introduced an industrial innovation programme aimed at promoting development of sectors of the economy seen as key for Taiwan’s future economic development. These are: biomedical, defence, green energy, the “Internet of Things” and smart machinery.

Following the appointment of a new Cabinet in September 2017, a new emphasis has been placed at tackling five key shortages in land, labour, talent, energy and water. Specific measures have been introduced to address these including increased infrastructure investment and legislative changes to make it easier to attract and recruit foreign professionals.

Deregulation and broader economic reform measures are also being promoted including reform of the tax system and deregulation of banking and finance laws.

[Source – FCO Overseas Business Risk/gov.uk]

Strengths of the Taiwanese market Strengths of the Taiwanese market include: •

• • • • •

15th out of 190 markets in The World Bank’s latest (2018) Ease of Doing Business report (http://www.doing business.org/data/exploreeconomies /taiwan-china) world’s biggest manufacturer of computer related products and semiconductors

logistics hub for the Asia-Pacific Region modern infrastructure

skilled workforce, abundant capital, and excellent innovation capabilities more RMB deposits than anywhere else except Hong Kong

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Doing Business in Taiwan

Benefits of the Taiwanese market Benefits for UK businesses exporting to Taiwan include: • • • • •

major platform for business with China

liberalisation of banking, insurance and securities sectors

offshore centre for the Renminbi (RMB), China’s official currency

high levels of consumer disposable income

sound legal environment with comprehensive protection of Intellectual Property Rights (IPR)

[Source – DIT/ gov.uk]

Trade between the UK and Taiwan British businesses are highly visible in the Taiwanese domestic market, and trade links with Europe continue to grow. There is a substantial market for infrastructure consultancy and products, financial services, high-value manufacturer supply chain, chemicals and a growing demand for creative industries and for green technology and services. This is a sophisticated market for consumer goods, particularly for international designer labels. Taiwan was the 4th largest market for Scotch whisky in 2016, with a strong demand for premium single malt brands (3rd largest market globally by value).

In 2016, Taiwan was the UK’s 33rd largest trading partner globally and the 7th largest in the Asia-Pacific Region. The UK was Taiwan’s 3rd largest trading partner in Europe. 2016 bilateral trade reached £5.35 billion.

In 2016, the UK’s total exports of both goods and services to Taiwan were £1.98 billion, a rise of 11% on the previous year. Taiwan was the UK’s 33rd largest market for goods exports with £1.2 billion of exports in 2016. UK services exports to Taiwan reached £777 million in 2016 making Taiwan the UK’s 46th largest export market for services.

Taiwan invested a total of US $21.8 billion (£18.2 billion) overseas in 2016, 23.6% higher than the previous year. The UK (excluding British Overseas Territories) was the third largest investment destination in Europe for Taiwan. A total of US $114.8 million (£95.7 million) investment went to the UK, accounting for 0.5% of Taiwan’s overall outbound FDI in 2016, or 10.1% of investment in Europe.

Taiwan’s 2002 entry into the WTO increased exports and improved market access to Taiwan for foreign firms which have been drawn by the success of one of Asia’s most dynamic and innovative economies and by a favourable business environment.

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TAIWAN

Investment in Taiwan Taiwan ranks 15th in the World Bank’s Ease of Doing Business Rankings, scoring well above the regional average for East Asia and the Pacific. Taiwan was ranked 16th overall in terms of starting a business. There is a large British business presence in Taiwan. The British Chamber of Commerce in Taipei has 145 members at the time of writing (March 2018) and continues to grow as UK business interests and investment in Taiwan increase. Over the last ten years, UK investment in Taiwan has grown to nearly £4 billion covering a wide range of sectors from financial services to pharmaceuticals to ICT. British companies operating in Taiwan include ARM, Astra Zeneca, Diageo, GSK, HSBC, Mott Macdonald, ODE Ltd, Oxford Instruments and Standard Chartered Bank. [Source – FCO Overseas Business Risk/gov.uk]

The UK and Taiwanese Authorities signed an agreement in December 2017 which will make it easier for UK and Taiwanese businesses in the biotechnology and pharmaceutical fields to protect their Intellectual Property. This will support leading UK industries like pharmaceuticals, helping companies export products like cutting-edge genetic medicines to Taiwan knowing their rights will be protected. New dialogues on agriculture and energy were also agreed, which will bring big opportunities to UK companies. Taiwan plans to increase its renewable energy production from 4% to 20% of supply by 2025, much of it from offshore wind farms, and as the world’s leading offshore wind producer, the UK is poised to be a key partner in this.

The new agricultural dialogue between the two authorities is also a boost for UK farmers as Taiwan is the largest per-capita pork consumer in Asia, underlining the commitment of both authorities to resolve the remaining steps to see Taiwan allow market access for British pork in the first half of 2018.

The two authorities also agreed to deepen links between the UK and Taiwan’s leading financial sectors, building on the UK’s £176 million of financial services exports to Taiwan last year. In particular, the UK will offer its expertise in financing renewable energy projects and fintech development in Taiwan.

See also the UK Government’s September 2017 British Business Climate Survey – Taiwan, at: https://www.gov.uk/government /publications/2017-british-business-climate -survey. This first survey of its kind, of UK companies operating in Taiwan, is aimed at gauging their view of the local business climate in the world’s 22nd largest economy. The survey shows that there is broad confidence amongst UK businesses operating in Taiwan in the prospects for Taiwan’s economy and for their own operations here in Taiwan over the next year. The survey also highlights important areas where the Taiwanese authorities could take further steps to make Taiwan more attractive to investors and further promote free trade. The British Office welcomes the steps taken by the current DPP administration to improve regulatory coherence and transparency by adopting a 60-day notice and comment period before introducing new measures, and

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Doing Business in Taiwan

also welcome efforts to encourage innovation in the fintech sector such as the draft regulatory sandbox bill. [Source – DIT/gov.uk]

In addition:

Taiwan was ranked 29th out of 180 markets in the latest 2017 Transparency International Corruption Perceptions Index (the UK ranked 8th): https://www. transparency.org/news/feature/corruption _perceptions_index_2017. Taiwan is ranked 15th out of 190 markets in the World Bank’s 2018 Ease of Doing Business index (the UK ranks 7th): http://www.doingbusiness.org/rankings. The World Economic Forum’s Global Competitiveness Report 2017-18 ranks Taiwan 15th out of 137 (the UK is ranked 8th): http://reports.weforum.org/globalcompetitiveness-index-2017-2018/.

Contact a DIT export adviser at: https://www.contactus.trade.gov.uk/en quiry/topic for a free consultation if you are interested in exporting to Taiwan.

Contact UK Export Finance (UKEF) about trade finance and insurance cover for UK companies. You can also check the current UKEF cover position for Taiwan. See: https://www.gov.uk/guidance/countrycover-policy-and-indicators#taiwan. [Source – DIT/gov.uk]

www.Taiwan.DoingBusinessGuide.co.uk

Night view of Bitan, Taipei

TAIWAN

The British Office Taipei promotes trade, investment, innovation, culture, education and other links between the UK and Taiwan. They also provide practical assistance to British nationals in Taiwan.

HELP AVAILABLE FOR YOU www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Doing Business in Taiwan

Help available for you Overview

The UK Department for International Trade (DIT) provides tailored support packages for companies who are: • • •

first time exporters (FTEs)

small and medium-sized enterprises (SMEs) medium-sized businesses (MSBs)

See: https://www.gov.uk/government/or ganisations/department-for-internationaltrade/about-our-services for further information. In addition, the British Chamber of Commerce in Taipei can assist with business matching and referrals, market studies, events and advice, and the Institute of Export & International Trade can help with a ‘Technical Help for Exporters Helpline’, professional recognition, continuing professional development (CPD), discounts, communications, networking events, special interest groups (SIGs) and a job board.

See: http://www.bcctaipei.com/ and https://www.export.org.uk/page/ Membership_Benefits for further information.

The following details are a selection of support services for you:

Support from the Department for International Trade (DIT)

The British Office Taipei promotes trade, investment, innovation, culture, education and other links between the UK and Taiwan. They also provide practical assistance to British nationals in Taiwan.

Taiwan is the world’s 22nd largest trading economy. Its high-technology strengths and national investment programmes present significant opportunities for UK companies.

The British Office sees particular opportunities for UK companies in offshore wind, railways and nuclear decommissioning. The UK is strong in all three sectors, and UK firms are well-placed to compete for business as Taiwan prepares to build its first three offshore wind farms by 2020, invest heavily in new railway infrastructure over the next decade, and gets ready to switch off the first of its civil nuclear reactors in December 2018. Taiwan is an excellent springboard into China for UK companies, as Taiwanese business has long-standing expertise working in China. (Taiwan was China’s 5th largest source of foreign direct investment in 2016, with around 80,000 Taiwanese companies located in China, accounting for 70% of China’s electronics manufacturing).

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The British Office, through its Department for International Trade staff, publicises commercial opportunities, and supports and organises targeted events and visits. The British Office is co-located with the British Council and the British Chamber of Commerce in Taipei. They collaborate with the British Council on their work to promote education and cultural links, and work closely with the Chamber on providing export assistance to UK companies, with the Chamber focusing in particular on the food and drink, retail and education sectors.

Business opportunities UK companies are set to benefit from a unique new five-year programme presenting real-time export opportunities that you can apply for online. This is part of the drive to significantly increase the number of UK companies exporting.

‘Exporting is GREAT’ is part of the UK Government’s GREAT campaign, and presents live export opportunities to UK businesses across a range of media outlets and digital channels. Hundreds of these export opportunities, with a potential total value of more than £300 million, are hosted on: https://www.great.gov.uk/. Selling online overseas Use this service to help choose a suitable online marketplace to sell your products overseas. You can:

• •

find major online marketplaces in other markets

• • •

discover how to list your products on an online marketplace

get information about costs of listing on the marketplace and how logistics are fulfilled

access special terms negotiated by the UK Government

E-Exporting Programme DIT’s E-Exporting Programme aims to help you get your brand to millions of global consumers and grow your business through online exports. DIT’s E-Exporting Programme helps you if you are a UK company: • • •

new to selling online

already selling online, but need help with specific issues experienced in online sales, but are looking to sell on multiple platforms globally

The programme enables you to:

•

arrange a free meeting through your local DIT office to get expert international trade advice and support, and access to DIT’s global network of contacts. See: https://www.contactus. trade.gov.uk/office-finder meet a Digital Trade Adviser where relevant, to help you develop and implement an international online strategy

see whether these online marketplaces are suitable to sell your products

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TAIWAN

• •

•

Doing Business in Taiwan

set up on e-marketplaces quickly and also identify new e-marketplaces around the world

access better than commercial rates to list on some e-marketplaces, including lower commission fees and ‘try for free’ periods. See: https://www.gov.uk/ guidance/e-exporting#preferentialrates access the ‘E-Expertise Bank’, a community of over 175 B2B/B2C service providers offering free advice. See: https://www.gov.uk/guidance/ e-exporting#eexpertise

join DIT’s mailing list for opportunities to hear from industry experts, network with like-minded individuals and find out about e-commerce trends

Find a buyer service This is the place to let international buyers know all about your business – highlight the vital facts about your company to give buyers confidence to get in touch; show off your company's experience and outstanding projects to give potential buyers more insight; get emails from international buyers straight to your sales or business development teams; see relevant government-supported export development events where overseas buyers will be attending. Events and missions Taking part in overseas exhibitions is an effective way for you to test markets, attract customers, appoint agents or distributors and make sales. DIT's Tradeshow Access Programme (TAP) provides grant support for eligible SMEs to attend trade shows overseas.

The DIT calendar of events has some 400 core events and missions, and 1,000 opportunities across the TAP ‘Trade Access Programme’ and the English national regions.

DIT events portal The DIT events portal provides a single calendar view of all DIT events and missions, and has been developed to provide you with more-detailed information on each event in order to help you decide on the most appropriate event to attend. The calendar can be filtered and searched by sector and/or market. There are also detailed events websites which include more information about the event and also allow you to register for an event.

The DIT events portal is your central hub for business and networking opportunities. Search for future events and missions, register online and network with fellow delegates. See: https://www.events. trade.gov.uk/.

DIT webinars The DIT webinar service runs hundreds of free hour-long internet events covering topics, sectors and markets around the world, helping you shape your export plan. These events allow you to interact with the experts in specific sectors and markets and allow you to ask questions to enhance your knowledge.

Visit the Website and download the free Mobile App

To see upcoming DIT webinars, please visit: https://www.events.trade.gov.uk/ and search for webinars.

DIT Overseas Market Introduction Service (OMIS) You can also commission a DIT Overseas Market Introduction Service (OMIS) to help you enter or expand your business in Taiwan. Under this service, DIT’s Trade and Investment Advisers, who have wide local experience and knowledge, can identify business partners and provide the support and advice most relevant to your company's specific needs in Taiwan. Contact the DIT team at the British Office Taipei for more information, at: https://www.gov.uk/world/organisations/ british-office-taipei. Other DIT services DIT assists new and experienced exporters with information, help and advice on entering overseas markets such as Taiwan. These services include: • • • • • •

an Export Health Check to assess your company’s readiness for exporting and help develop a plan of action training in the requirements for trading overseas access to an experienced local International Trade Adviser

help to grow your business through online exports specialist help with tackling cultural issues when communicating with Taiwanese customers and partners

advice on how to go about market research and the possibility of a grant towards approved market-research projects

•

• • • • • •

ongoing support to help you continue to develop overseas trade, and look at dealing with more-sophisticated activities or markets information, contacts, advice, mentoring and support from DIT staff in the UK and their network of staff in Taiwan support to participate in trade fairs in Taiwan

opportunities to participate in sector-based trade missions and seminars

access to major buyers, local government and supply chains in Taiwan

advice on forming international joint ventures and partnerships exploratory visits to Taiwan

alerts to the latest and best business opportunities

To find out more about commissioning any of these services, contact a DIT Export Adviser at: http://www.greatbusiness.gov.uk for a free consultation, or see further details at: https://www.gov.uk/government /organisations/department-for-international -trade/about-our-services. In-market support If you already export, and have decided Taiwan is part of your business strategy, you are advised to contact the DIT team at the British Office Taipei prior to your visit, to discuss your objectives and what help you may need. See: https://www.gov.uk/ world/organisations/department-forinternational-trade-taiwan#contact-us.

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TAIWAN

They can provide a range of Taiwanspecific services for you, including the provision of market information, validated lists of agents/potential partners, key market players or potential customers; establishing interest from such contacts; and arranging in-market appointments for you. In addition, they can also organise events for you to meet contacts in Taiwan, or to promote your company and your products/services. [Source – DIT/gov.uk]

Support from the British Chamber of Commerce in Taipei (BCCT)

The British Chamber of Commerce in Taipei (BCCT) is a value-adding resource that champions the business and social interests of its members in Taiwan. Made up of large and small corporations, individuals, and overseas associations, the BCCT is a strong and cosmopolitan mixture of successful enterprises in diverse industries.

The BCCT acts as a key resource for UK companies interested in the Taiwan market by ensuring that businesses, especially SMEs, have a direct line to assistance and networks. They provide landing pad services and offer a united but unbiased commercial perspective on all issues affecting British business interests in Taiwan, and Taiwan business interests in the UK. The BCCT provides a broad range of membership activities and events including business networking opportunities and free workshops. The BCCT also has a number of signature events including the St Andrews Day Ball, Charity Golf

Tournament, International Football Tournament, and the Christmas Charity Auction. They also have a number of specific events, large and small, throughout the year focusing on CSR and also Women in Business.

The Chamber is housed inside the British Office and shares a very close relationship with DIT and the British Council, and holds periodic joint events with other foreign chambers.

In conjunction with membership activities, the BCCT has donated over 10 million New Taiwan Dollars to local Taiwanese charities, and has an active programme to support the CSR initiatives of its members in Taiwan. For more information on how the BCCT can help you, or on becoming a member, contact: http://www.bcctaipei.com/ membership/benefits-of-membership/. [Source – British Chamber of Commerce in Taipei]

Support from the Institute of Export & International Trade (IOE&IT)

Raising the profile of international trade qualifications and experienced members is only part of how IOE&IT membership is essential for any individual or business involved with global trade.

Importantly, the IOE&IT also offer access to a unique range of benefits and services specific to international trade:

•

Help with any export issues you come across. Our team of experts can help with questions on documentation, export controls, the UK Bribery Act,

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Doing Business in Taiwan

•

customs & VAT procedures, regulatory and compliance issues, insurance issues, payment terms, transport and logistics. Members get free access to our experts via a technical helpline. See: https://www.export.org.uk/page/ Export_Helpline. A voice for your ideas and concerns. We represent your point of view and feed back to government, HMRC and other influencing bodies on issues that impact you, plus participate in Institute responses to central government with regard to proposed legislative changes.

A complete range of international trade qualifications – for those that have no experience, up to those who wish to qualify themselves to take a business degree. The Institute's qualifications are widely recognised as providing both employers and employees with the necessary international business practice linked to satisfying career planning and development. See: https://www.export.org.uk/page/ qualifications.

•

Inclusion in surveys to research the attitudes and changes to world trade.

For more information on how the IOE&IT can help you, or on becoming a member, contact the IOE&IT at: https://www.export. org.uk/page/about.

Open to Export Open to Export is the IOE&IT’s free, online advice service for UK companies looking to grow internationally. It offers free information and support on anything to do with exporting and hosts online discussions via its forum, webinars and social media where businesses can ask any export question, and learn from each other.

Open to Export can be accessed at: http://opentoexport.com/.

[Source – Institute of Export & International Trade]

A range of short courses giving you the skills and expertise you need to gain a competitive advantage in the challenging and complex world of export, import and international trade. See: https://www.export.org.uk/page/ TrainingCourses. An extensive events programme to help you share information and connect at every level in the international trade community, whether it is sector-specific or regional. See: https://www.export.org.uk/events/ event_list.asp.

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TAIWAN

Neon signs, Taipei

You may spend up to 90 days in Taiwan without a visa. You can then extend this by a further 90 days once you have entered Taiwan. If you plan to stay in Taiwan for longer than 180 days you must have a visa before you arrive.

GETTING HERE AND ADVICE ABOUT YOUR STAY

TAIWAN

Doing Business in Taiwan

Getting here and advice about your stay Entry requirements

Passport validity

Your passport should be valid for a minimum period of six months from the date of entry into Taiwan.

Visas You may spend up to 90 days in Taiwan without a visa. You can then extend this by a further 90 days once you have entered Taiwan. If you plan to stay in Taiwan for longer than 180 days you must have a visa before you arrive.

Specific rules exist for naturalised British Citizens born in the Peopleâ&#x20AC;&#x2122;s Republic of China and holders of British National (Overseas) passports wishing to enter under the Visa Waiver Scheme. For further information on entry requirements, contact the Taipei Representative Office at: 50 Grosvenor Gardens, London, SW1W 0EB. Telephone: 020 7881 2650, or:

1 Melville Street, Edinburgh, EH3 7PE. Telephone: 01312 206886.

Visit the website at: https://www.roc-tai wan.org/uk_en/index.html.

UK Emergency Travel Documents (ETDs) UK Emergency Travel Documents are accepted for entry, airside transit and exit from Taiwan. If you are entering Taiwan using an Emergency Travel Document (ETD) (https://www.gov.uk/emergencytravel-document), you must apply for a visit visa before travelling (unless you are travelling from mainland China, in which case you can get a visa on arrival).

You can apply for an ETD if you are abroad and your passport has been lost or stolen, damaged or expired, and you cannot get a new or replacement passport in time to travel. See: https://www.gov.uk/ emergency-travel-document. If you are due to travel in the next 24 hours, contact the British Office Taipei as soon as possible at: https://www.gov.uk/ world/organisations/british-office-taipei# contact-us. You will then be advised to make an appointment to apply for an emergency travel document at the British Office Taipei. See: https://www.consularappointments.service.gov.uk/fco/#!/britishoffice-taipei/issuing-an-emergency-traveldocument/slot_picker.

Medications When bringing medications into Taiwan, you should bring a prescription from a hospital, clinic or doctor stating that the medicines are for the use of the individual. The amount brought in must be consistent with the amount on the prescription.

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Money Western Union, Moneygram and Travellers Express have offices in Taipei, but operating hours are restricted. It is not possible to exchange Scottish or Northern Irish bank notes. Bank transfers can be slow. Some branches of The Bank of Taiwan and HSBC will accept British credit cards, but you will incur handling charges. ATMs are plentiful but not all accept British bankcards (most ATMs in 7-11 convenience stores accept international cards). Designated banks will accept American Express, Citibank or Thomas Cook travellers’ cheques but you should be prepared to produce your purchase certificate or receipt as well as your passport when cashing them. If in doubt, check whether your travellers’ cheques will be accepted in Taiwan before you travel. [Source – FCO Travel Advice/gov.uk]

Safety and security

Advance fee frauds Individuals and companies in the UK (and elsewhere) often receive letters, faxes and emails, offering them large sums of money provided they send various ‘advance fees’ to Taiwanese bank accounts. Fraudsters obtain contact details from telephone or commercial directories, so recipients are not being specifically targeted. The National Crime Agency (NCA) investigates advance fee frauds in the UK. Do not reply to these types of communication. The NCA website at: http://www.nationalcrimeagency.gov.uk/ contains more information on this type of fraud.

Local travel There is a risk of road blockages and landslides following typhoons, especially in central and southern Taiwan. You should check the Taiwan Central Weather Bureau website at: http://www.cwb.gov.tw/eng/ index.htm and the Directorate General of Highways site at: http://www.thb.gov.tw/ sites/en/ before travelling.

Road travel To drive in Taiwan you need an International Driving Permit (IDP). Once in Taiwan, you will need to take your passport, IDP and a passport photograph to the nearest Vehicle Registration Department and apply for a driver’s licence visa, which will then be secured in your IDP.

The alcohol limit for drivers in Taiwan is lower than in the UK. The current legal limit is 0.15 micrograms of alcohol per 100 ml of breath or 0.03% blood alcohol concentration (BAC). Driving while over the limit can result in heavy fines and imprisonment. Passengers may also be fined. Be alert crossing roads, even on protected crossings.

Local laws and customs If you are found guilty of smuggling, trafficking, possession or use of illegal narcotics you can expect to receive a severe jail sentence or, in some cases, the death penalty. [Source – FCO Travel Advice/gov.uk]

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TAIWAN

Political demonstrations You should avoid large-scale political gatherings.

Terrorism and security Taiwan is generally a safe place to live and do business. Small-scale petty crime affecting foreign nationals is not commonplace, but exists. Read the Safety and Security information provided in the FCO Travel Advice: https://www.gov.uk/for eign-travel-advice/taiwan/safety-and-secu rity. The Centre for the Protection of National Infrastructure (CPNI) also provides protective security advice to businesses. See: https://www.cpni.gov.uk/.

You can find out more about the global threat from terrorism, how to minimise your risk and what to do in the event of a terrorist attack at: https://www.gov.uk/ guidance/reduce-your-risk-from-terrorismwhile-abroad.

Although there is no recent history of terrorism in Taiwan, attacks cannot be ruled out. You should be aware of the global risk of indiscriminate attacks, which could be against civilian targets, including places visited by foreigners. For the most up-to-date information on terrorism see the terrorism section of the FCO Travel advice for Taiwan, at: https://www.gov.uk/foreigntravel-advice/taiwan/terrorism.

Consular assistance The UK does not have diplomatic relations with Taiwan. The British Assistance and Services Section of the British Office Taipei can provide certain limited consular assistance, see: https://www.gov.uk/ world/organisations/british-office-taipei.

In cases of genuine emergency, the British Office may be able to issue you with an Emergency Travel Document. Natural disasters

Tropical cyclones The tropical cyclone (typhoon) season in Taiwan normally runs from May to November, sometimes resulting in local flooding and landslides.

Listen to Typhoon Alerts on ICRT, BCC and PRS radio stations, or alternatively monitor the following websites: http://www.jma.go.jp/en/typh/; http://www.cwb.gov.tw/eng/index.htm; https://www.icrt.com.tw/.

See also the UK Government tropical cyclones page at: https://www.gov.uk/ guidance/tropical-cyclones for advice about what to do if you are caught up in a storm.

Earthquakes Earthquakes do occur in Taiwan. The US Federal Emergency Management Agency website: https://www.ready.gov/earthquakes has advice about what to do before, during and after an earthquake. You should check the FCO Travel Advice for the latest security advice on regional travel, driving in Taiwan, crime, terrorism risks and natural disasters, at: https://www.gov.uk/foreign-traveladvice/taiwan. [Source â&#x20AC;&#x201C; FCO Travel Advice/gov.uk]

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Health

Visit your health professional at least four-to-six weeks before your trip to check whether you need any vaccinations or other preventive measures.

Market-specific information and advice is published by the National Travel Health Network and Centre on the TravelHealthPro website: https://travelhealthpro.org.uk/ countries, and by NHS (Scotland) on the FitForTravel website: http://www.fitfor travel.nhs.uk/destinations.aspx.

Useful information and advice about healthcare abroad is also available on the NHS Choices website: http://www.nhs. uk/NHSEngland/Healthcareabroad/Pages/ Healthcareabroad.aspx.

Taiwan has adequate health and dental facilities to handle routine, emergency and outpatient treatment. Some have Englishspeaking staff. Hospitals operate on a ’pay as you use’ basis. Make sure you have adequate travel health insurance and accessible funds to cover the cost of any medical treatment abroad and repatriation.

There has been a significant increase in cases of dengue fever (https://travelhealth pro.org.uk/factsheet/13/dengue). Cases are usually concentrated in the south of Taiwan (including the cities of Kaohsiung and Tainan) and are highest during the summer months. See the Taiwan Centre for Disease Control website: http://www. cdc.gov.tw/rwd/english for more information. You should take precautions to avoid mosquito bites. See: https://travel healthpro.org.uk/factsheet/38/insect-andtick-bite-avoidance.

If you need emergency medical assistance during your trip, dial 119 and ask for an ambulance. You should contact your insurance/medical assistance company promptly if you are referred to a medical facility for treatment. Unlike the UK, it is not normal practice for a paramedic to accompany an ambulance. [Source – FCO Travel Advice/gov.uk]

FCO travel advice

If you are travelling to Taiwan for business, the Foreign & Commonwealth Office (FCO) website has travel advice to help you prepare for your visits overseas and to stay safe and secure while you are there.

For advice please visit the FCO travel section pages on the gov.uk website: https://www.gov.uk/foreign-traveladvice/taiwan.

Travel insurance Take out comprehensive travel and medical insurance before you travel. See FCO Foreign Travel Insurance: https://www.gov.uk/guidance/foreign-travelinsurance.

www.Taiwan.DoingBusinessGuide.co.uk

Taichung skyline

TAIWAN

Taiwan is a thriving democracy, vibrant market economy, and a highly attractive export market. Taiwan is a sophisticated consumer market, plugged into consumer trends in Japan and Korea, and generally a target market for high-quality, differentiated products rather than commodity items.

SECTOR-SPECIFIC OPPORTUNITIES www.Taiwan.DoingBusinessGuide.co.uk

Sector-specific opportunities Background

With a population of 23.6 million, Taiwan is a thriving democracy, vibrant market economy, and a highly attractive export market. Taiwan is a sophisticated consumer market, plugged into consumer trends in Japan and Korea. Taiwan is generally a target market for high-quality, differentiated products rather than commodity items. The best prospects for UK businesses include: electronics, chemicals, information and communications products, transportation equipment and machinery.

Taiwanese authority tenders You can access Taiwanese central authority procurement opportunities via the online procurement system. See: http://web.pcc.gov.tw/tps/pss/tender. do?method=goNews.

Research You should carry out as much market research and planning as possible before exporting to Taiwan, using both desk research and visits to the market. You need to determine if there is a market for your product or service and whether your pricing is competitive.

The main projects are:

[Source – ExportBritain/BCC]

DIT’s trade specialists can help you identify local representatives for your products in Taiwan. See: https://www. gov.uk/overseas-customers-exportopportunities.

DIT provides free international export sales leads from its worldwide network. Find export opportunities in Taiwan at: https://opportunities.export.great.gov.uk/.

Construction

The Taiwanese authorities have announced a number of large scale public infrastructure projects which will generate opportunities over the next eight years. •

rapid-transit networks in main cities

•

Kaohsiung free port and eco-park

• • • • •

mainline railway upgrades

Asia-Pacific Maritime and Air Logistics Centre in Taichung Taoyuan International Air City

urban regeneration and rural revitalisation projects across Taiwan an island-wide sewerage system

Contact the Head of Infrastructure: lynn.li@fco.gov.uk for more information on opportunities in construction. [Source – DIT/gov.uk]

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TAIWAN

Consumer goods

Taiwan’s GDP is the 19th largest in the world on a purchasing power basis. The Taiwanese have more disposable income than counterparts in South Korea, Japan, France or the UK. Increasing wealth is resulting in a growth in consumption, including demand for foreign imports. 40% of goods consumed are imported.

The food and drinks sector is the 5th largest industry in Taiwan and one of the market’s fastest growing sectors. Local supermarkets, hypermarkets, and convenience stores are increasing ranges of imported foods to meet demand. Potential areas of opportunity for food and drink are linked to entertainment and convenience product ranges that can also follow the healthy trend in food services.

The market for youth fashion is strongly influenced by Japanese and Korean styles and trends. Due to the increasing demand for quality products, there are opportunities in: • • •

contemporary menswear and ladieswear premium accessories sportswear

Contact the BCCT for more information on opportunities in the consumer goods sector.

[Source – DIT/gov.uk]

Electronics, semiconductor and display

Taiwan is the global leader in the production of computers and IT equipment. It is also a main location for mobile handset production.

Taiwan has a worldwide share of over 90% of the original equipment manufacturer (OEM) and original design manufacturer (ODM) market. It also dominates the semiconductor chip supply chain.

There are opportunities in: • • • • • •

cloud computing

Internet of Things (advanced connectivity of devices, systems, and services) green IT

telematics

software applications on mobile devices open data/sources

Contact Head of Technology and Trade Development: anne.lai@fco.gov.uk for more information on opportunities in the electronics sector.

See also an introductory brief from the UK Science and Innovation Network which covers the local Science and Innovation landscape, UK priorities and successes in Taiwan at: https://www.gov.uk/ government/publications/uk-science-andinnovation-network-snapshot-taiwan.

[Source – DIT/gov.uk]

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Environment

As one of the most densely populated islands in the world, Taiwan’s usable land area is very limited. Taiwanese authorities spend around £14 million a year on tackling soil and groundwater contamination. This is set to double over the next few years with additional investment by the private sector. Taiwan is actively seeking partners in the international community with expertise in this field. The Taiwan Environmental Protection Administration (EPA) (https://www.epa.gov.tw/mp.asp?mp=epaen) focuses on five main areas: •

promoting sustainability

•

recycling

• • •

reducing carbon emissions eliminating pollution

promoting healthy, sustainable lifestyles

Contact the Senior Commercial Officer: karen.su@fco.gov.uk for more information on environmental opportunities. [Source – DIT/gov.uk]

Financial services

Taiwan’s financial services industry accounts for 7.1% of GDP. It has become much more international and liberalised over the last two decades.

With the implementation of the Economic Cooperation Framework Agreement (ECFA), Taiwanese banks, insurers, futures traders and securities firms are now able to operate in China.

The cross-Strait Renminbi (RMB) clearance agreement signed in August 2012 enables Taiwanese banks to provide all operations in RMB and promote Taiwan as an important offshore RMB financial centre. With more than RMB 318 billion deposits in total, Taiwan is now the 3rd largest offshore RMB centre internationally. This will lead to further opportunities for companies with capability in: •

wealth management

•

investment advice

•

corporate and trade finance

Contact Head of Technology and Trade Development: anne.lai@fco.gov.uk for more information on opportunities in the financial services sector. [Source – DIT/gov.uk]

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TAIWAN

Low carbon economy

Low carbon is listed as one of the five policy pillars for Taiwan. Taiwan has committed to cut carbon emissions by 2025, to the levels recorded in 2000. The programme will take a two-pronged approach which includes: • •

developing renewable energy sources, including the installation of 3 gigawatts (GW) offshore wind capacity the development of marine and tidal energy capability

Taiwan will boost its wind power capacity from 530 megawatts to 4.2 GW by 2030 under a renewable energy plan by the Ministry of Economic Affairs. This programme is expected to generate £11 billion in business for Taiwanese equipment manufacturers and component suppliers.

The UK has developed the largest offshore wind market in the world and has strengths that complement the Taiwan market. Where there is a need for products and services that are unique to this industry the UK has solutions. There are three key areas where UK support can work:

•

Expertise: Taiwan is in a similar position as the UK 15 years ago, and the UK now has experts that can support this new market and deliver projects on-time and efficiently. The key areas for co-operation are early stage development, design, engineering, installation support and O&M. When London Array started installing wind turbines in 2011 it was taking some 60 days to install and

•

commission each turbine. In September 2017, it took 14 hours to install and commission a wind turbine on Dudgeon.

Specialist equipment: the industry has evolved now to a mature state and prices are driving down, a key influencer has been the development of dedicated equipment, and the UK has some of the best manufacturers in the world. These include manufacturing cables, cable protection, specialist vessel equipment, turbines blades, substation electrical equipment and substations.

Marine operations: to build and maintain these huge offshore wind farms, the UK has developed a world leading fleet of installation vessels and operations and maintenance vessels. Along with this we have world leading companies to support in co-ordinating vessel operations and monitor the efficiency and safety of everyone working offshore.

There is a need for local content in the Taiwanese market; and an appetite to develop a home supply chain. The UK’s approach is to encourage partnership with local companies who have the potential to deliver in the market. The key areas for local content can be in major or secondary fabrication for foundations and towers, vessels for installation support, technicians (having learned from UK counterparts), installation port services and operations and maintenance. There is also a programme in Taiwan for marine and ocean current energy which at present is setting up guidelines and a major pilot programme.

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Opportunities include:

• •

•

green energy

energy conservation installations

There are also opportunities for industry support. This includes support for: •

solar photovoltaics (PV)

•

wind power

• • • • •

light emitting diode (LED) PV lighting biomass

provide major upgrades for traditional mainline railways in Taiwan

Taipei City will lead on projects in Taipei, New Taipei City and Taichung City for new metro lines and extension lines for six metro projects. There are also plans for: • • •

light rail projects for Taoyuan and Kaohsiung cities

three new stations for high speed rail

major maintenance signalling upgrades for traditional railways

Key opportunities for UK companies are in:

hydrogen and fuel cell

energy communication and information electric vehicles

Contact the Senior Commercial Officer: karen.su@fco.gov.uk for more information on opportunities in the low carbon sector. [Source – DIT/gov.uk]

Transport

The Taiwanese authorities have announced 12 priority public construction projects, with a total budget of £66.5 billion over the next eight years.

•

consulting engineering

•

station design

• •

signalling

rolling stock parts

Contact the Senior Commercial Officer: annie.yi@fco.gov.uk for more information on transport opportunities. [Source – DIT/gov.uk]

The first priority up to 2030 is to build a fast and efficient island-wide transportation network including:

• •

new metro lines

extension of high speed rail stations www.Taiwan.DoingBusinessGuide.co.uk

New Taiwan Dollar

TAIWAN

Although Taiwan is not a large market, different regions have different industry clusters. Therefore regional plans and good local research are likely to be needed, using both desk research and market visits.

PREPARING TO EXPORT

TAIWAN

Doing Business in Taiwan

Preparing to export Consultation and bespoke research

Visit: www.great.gov.uk for guidance on how to research overseas markets as well as a range of other important issues for exporters.

there is a market for your product or service your pricing is competitive to localise your product

to adapt your business model

• •

company presence in Taiwan (for example through registering as a foreign company, direct sales, appointing a local agent, online selling, licensing or franchising)?

Do you need to be involved in Taiwan at all?

Do you see Taiwan as part of a wider plan including e.g. mainland China now or in the future?

Your company: • What are the unique selling points for your product or service? • • • •

Do you know if there is a market for your product or service in Taiwan?

Do you know if you can be competitive in Taiwan?

Are your competitors already in Taiwan? If so, what are they doing?

Do you have the time and resources to handle the demands of communication, travel, product delivery and after-sales service?

The questions listed below should help you to focus your thoughts. Your answers to them will highlight areas for further research and also suggest a way forward that is right for your company. You may then want to use this as a basis for developing a formal Taiwan strategy, although this may not be necessary or appropriate for all companies:

Your knowledge: • Do you know how to secure payment for your products or service?

•

Your aims: • Do you wish to buy from Taiwan, sell to Taiwan or both? Do you wish to establish your own

• •

Do you know where in Taiwan you should start?

Do you know how to locate and screen potential partners, agents or distributors? Have you carried out any Taiwan-

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specific customer segmentation, and do you know how to best reach potential customers in-market?

It is unlikely that you will have the answers to all these questions at the outset and these ‘knowledge gaps’ could form the basis for further research and investigation. Some of these questions will require quantitative research in your sector, while others involve more contextual and cultural considerations.

Talking to other people in your industry and regularly visiting Taiwan will give you access to the most current advice, and such experience can often lead to new insights and form the basis for further research.

There is also some useful guidance on developing a marketing strategy, customer segmentation, competitor and SWOT analysis etc. on the https://www.great. gov.uk/ site – and the IOE&IT and British Chamber can help too.

There are a number of trade shows held in Taiwan each year – these can be useful to test product viability in the market. The Department for International Trade (DIT) Tradeshow Access Programme at: https://www.gov.uk/guidance/tradeshowaccess-programme provides funding in the form of grants for eligible businesses to attend overseas trade shows. The funding helps your business gain:

•

market knowledge

•

advice and support from trade experts

•

experience in attending and getting the most from overseas trade shows

Visit the DIT events portal at: https://events.trade.gov.uk/ to find upcoming events and missions Taiwan.

Find out more about marketing your goods and services for Taiwan, at: https://www. great.gov.uk/.

Contact the DIT team at: https://www.gov.uk/world/organisations/ department-for-international-tradetaiwan#contact-us for events and company launches at the British Office Taipei. Start-up considerations

It is possible to set up a company office, branch office, representative office, job-site office or joint venture in Taiwan.

Mergers and acquisitions are also an option, although you must be aware of fair trade and antitrust issues. Foreign investors need to obtain approval from the Taiwanese Ministry of Economic Affairs (MOEA) to set up a company in Taiwan, see: http://www.moea.gov.tw/Mns/english/ home/English.aspx. Once approval has been obtained, it is possible for foreign investors (with the exception of certain restricted industries) to establish: •

an unlimited company

•

a limited company

•

an unlimited company with limited liability shareholders

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

•

Doing Business in Taiwan

a company limited by shares

Taxation and legal obligations differ depending on which business structure you choose. It is therefore recommended you consult legal professionals in Taiwan prior to establishing an office, to ensure you choose the way that is best suited to your sector of activity. See: https://www. gov.uk/government/publications/taiwan-listof-lawyers. [Source – DIT/ gov.uk]

Direct exports and sales Direct exports means you supply your products direct to the customer. You handle all the logistics of marketing, selling, sending overseas and getting paid.

However, direct sales into the Taiwanese market can be difficult. It is more effective to approach the market through local business partners (agents and distributors). They will have the ability to distribute and provide locally-based technical and language support. Appointing a local agent or distributor is therefore the most common method. You should look closely at their:

•

local business reputation

•

regional coverage

• •

financial resources marketing ability

DIT’s trade specialists at the British Office Taipei can help you identify local representatives for your products in Taiwan. See: https://www.gov.uk/overseascustomers-export-opportunities.

If you want to establish a business relationship that goes beyond exporting, you will need to carry out further research. A thorough evaluation of your potential partner may be time consuming and expensive, but doing so will greatly reduce the risk of serious problems in the future.

Online selling to Taiwan (e-commerce) E-commerce in Taiwan is a multi-billion Dollar industry. Taiwan’s e-commerce penetration rate is one of the highest in the world, with a large market of sophisticated consumers familiar with global trends.

E-commerce legislation is continually being updated and amended in Taiwan, so you should contact the DIT team at the British Office Taipei for the latest detail, and lists of local tax advisers and lawyers. Find out about DIT’s E-Exporting Programme at: https://www.gov.uk/guidance /e-exporting, which can help you export your products to Taiwan. Check out online marketplaces in Taiwan at: https://selling-online-overseas.export. great.gov.uk/, where DIT has negotiated listings at better-than-commercial rates.

Franchising Franchising is also an increasingly popular option. However, local competition is strong and considerable support from the UK may be needed to ensure success. Shared joint-venture partnerships, master franchisees and regionally-based conglomerates are not uncommon, and there are no specific laws that regulate franchising in Taiwan, and IP regulations are the same for both domestic and foreign companies.

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It is recommended you use a reliable professional service provider for advice on the structure and implementation of a franchising agreement.

Visit the international section of the British Franchise Association at: http://www. thebfa.org/international for more information on franchising.

Contact the DIT team at the British Office Taipei at: https://www.gov.uk/world/organ isations/department-for-international-tradetaiwan#contact-us for help in finding partners, distributors and tax advisers before entering into agreements, as the tax and legal obligations of each business structure can differ.

Consult local lawyers and translators to avoid costly mistakes and ensure you start out in the way that is best suited to your sector of activity. See: https://www.gov. uk/government/publications/taiwan-list-oflawyers.

You should conduct due diligence checks once you have chosen your method of entry into the market. Getting finance to fulfil an export contract Globally, Taiwan ranks 90th out of 190 economies, in the World Bank’s “Doing Business – Ease of Getting Credit” report 2018. See: http://www.doingbusiness. org/data/exploreeconomies/taiwan-china.

To make it easier to fulfil an export contract and grow your business, schemes are available to UK companies selling products and services to Taiwan. Contact your bank or specialist financial organisation for assistance. UK Export Finance (UKEF) has significant risk capacity to support exports to Taiwan, see: https://www.gov.uk/guidance/countrycover-policy-and-indicators#taiwan. Contact one of UKEF’s export finance advisers at:

https://www.gov.uk/government/ publications/find-an-export-finance-manager for free and impartial advice on your finance options. Getting paid in Taiwan

You may wish to talk to a specialist about finance, including how to get paid in Taiwan. This could be a bank, an accountant or you can contact the DIT team at the British Office Taipei at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us to help you find a local financial adviser.

Your contract will specify the terms for payment. If there is any dispute you will need to go through the Taiwanese legal system for resolution.

Payment risks UKEF helps UK companies to get paid by insuring against buyer default.

You may have difficulty accessing foreign exchange. Be confident you will get paid for your export contract. Speak to one of UKEF’s export finance advisers at: https:// www.gov.uk/government/publications/ find-an-export-finance-manager for free and impartial advice on your insurance options or contact one of UKEF’s approved export insurance brokers at: https://www. gov.uk/government/publications/uk-exportfinance-insurance-list-of-approved-brokers /export-insurance-approved-brokers. Currency risks when exporting If you have not fixed your exchange rate you have not fixed your price.

You should consider whether the best option for you is to agree terms in Sterling, US Dollars, RMB or New Taiwan Dollars in any contract. You should also consider getting expert financial advice on exchange rates (sometimes called FX).

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Panoramic view of Taipei City at sunrise

Contents of packaged goods must be shown in metric units, and Taiwan's Consumer Protection Law requires that all imported goods have Chinese language labels and instructions.

HOW TO DO BUSINESS IN TAIWAN

TAIWAN

Doing Business in Taiwan

How to do business in Taiwan Legal considerations

There are a number of organisations involved in the regulation of companies in Taiwan. These include the: •

• • • • • • •

• •

Ministry of Economic Affairs (MOEA), which issues business laws and regulations: http://www.moea.gov.tw/ Mns/english/home/English.aspx Bureau of Foreign Trade (BOFT): http://www.trade.gov.tw/English/

Bureau of Standards, Metrology and Inspection (BSMI): http://www.bsmi. gov.tw/wSite/mp?mp=2

Taiwan Intellectual Property Office: https://www.tipo.gov.tw/mp.asp?mp=2 Financial Supervisory Commission: http://www.fsc.gov.tw/en/index.jsp

Ministry of Finance, which administers taxation and customs: https://www.mof. gov.tw/Eng/Home Fair Trade Commission: http://www.ftc. gov.tw/internet/english/index.aspx Ministry of Health and Welfare, which licenses and inspects food and pharmaceutical products: http://www.mohw.gov.tw/mp-2.html Taiwan Council of Agriculture (COA): http://eng.coa.gov.tw/ Environmental Protection Administration: https://www.epa.gov. tw/mp.asp?mp=epaen

•

Ministry of Labour: http://english.mol. gov.tw/

Contact the DIT team at the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us to help find tax and legal advisers before entering into agreements. [Source – DIT/ gov.uk]

Export licences for Taiwan You must have a licence to supply anything on the UK strategic export control lists to Taiwan.

Find out more about getting a licence to export military or dual use goods, services or technology to Taiwan, at: https://www. gov.uk/guidance/beginners-guide-toexport-controls.

Find out which products will need certification or licensing before they can be exported to Taiwan, at: https://www.gov.uk /starting-to-export/licences.

Law on marketing and selling If you are selling to consumers you must be aware of and comply with Taiwan’s Consumer Protection regulations. Contact the Taiwan Fair Trade Commission at: http://www.ftc.gov.tw/internet/english/index. aspx for further information.

Standards and technical regulations The Bureau of Foreign Trade (BOFT) is responsible for regulations covering import and export activities, and supervision of controlled items. See: http://www.trade. gov.tw/English/.

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The Bureau of Standards, Metrology and Inspection (BSMI) is responsible for standardisation, metrology and inspection systems in line with international practices. See: http://www.bsmi.gov.tw/wSite/mp? mp=2.

Agricultural, industrial and mining commodities must comply with inspection requirements. Inspection is conducted according to four schemes including:

•

batch-by-batch inspection

registration of product certification

monitoring inspection

declaration of conformity

BSMI also inspects imported agricultural, fishery and food products. 1,853 agricultural and fishery products are subject to inspection. The Department of Health and Welfare provides details of the relevant regulation. See: http://www. mohw.gov.tw/mp-2.html.

You should consider taking out product liability insurance if you manufacture or supply a physical product that is sold or given away for free. See: https://www.abi. org.uk/products-and-issues/choosing-theright-insurance/business-insurance/liabil ity-insurance/product-liability-insurance/.

[Source – DIT/ gov.uk]

Packaging and labelling your products Contents of packaged goods must be shown in metric units, and Taiwan's Consumer Protection Law requires that all imported goods have Chinese language labels and instructions.

Additional advice on certification requirements and labelling for organic products can be obtained from the Taiwan Council of Agriculture (COA), at: http://eng.coa.gov.tw/.

Be aware that packages may receive heavy handling and be left in the open air for longer than anticipated, so you should take into account the Taiwanese climate.

Protecting your Intellectual Property (IP) Taiwan joined the WTO in 2002. The Taiwan Intellectual Property Office is responsible for the administration of patent, trademark and copyright laws, see: https://www.tipo.gov.tw/mp.asp?mp=2.

The establishment of a dedicated IP Court in 2008 was widely welcomed by the business community, and seen as a step in the right direction. Furthermore, the Trade Secrets Act was amended in January 2013 to increase criminal penalties for trade secret misappropriation, including enhanced sanctions of up to ten years imprisonment for cross-border secrets theft.

The British Trade and Cultural Office in Taiwan (now the British Office Taipei) and the Taipei Representative Office in the UK signed a Memorandum of Understanding (MOU) on Intellectual Property in September 2013 (https:// www.gov.uk/government/world-locationnews/uk-and-taiwan-signs-mou-onintellectual-property). Under the MOU, Taiwan and the UK exchange views on international IP issues, including internet piracy, patent law harmonisation and changes in IPR legislation.

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Doing Business in Taiwan

More recently, the Patent Attorney Act was amended on 1st January, 2016. The amendment simplified administrative procedures, expanding areas of practice and introducing heavier punishment for malpractice.

Double taxation agreement The UK and Taiwan have signed a double taxation agreement, ensuring the same income is not taxed in more than one market. See: www.gov.uk/government/ publications/taiwan-tax-treaties.

Globally, Taiwan is ranked 24th out of 128 markets for Intellectual Property Rights (IPR) in the 2017 International Property Rights Index Report. See: https://www.in ternationalpropertyrightsindex.org/country/ taiwan-china.

Business tax Business tax is imposed on the sale of goods and services within Taiwan, as well as on the importation of goods. Taiwan has two business tax systems:

Taiwan’s patent and trademark systems are still being revised and are now more in line with international standards.

Businesses are generally encouraged to learn more about IP issues relevant to their specific industry sector and to consider defensive measures early in their plans to enter the Taiwanese market. An independent Intellectual Property Rights lawyer can help you to determine the best strategy for your company. Contact the DIT team at the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us for details of local legal professionals who can give you advice on protecting your IP in Taiwan. Tax and customs considerations

Contact the DIT team at the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us, to help find local tax advisers before entering into agreements in Taiwan.

Corporate income tax (CIT) Corporate income tax is 17% on total annual taxable income over 120,000 New Taiwan Dollars.

• •

Value Added Tax (VAT). The VAT system applies to most non-financial businesses at a standard rate of 5%.

Non-Value Added Tax, also known as the Gross Business Receipts Tax (GBRT). The GBRT system applies to financial institutions, small businesses and certain restaurants, and is calculated on the basis of their gross business proceeds, at rates ranging from 0.1% to 25%.

[Source – DIT/ gov.uk]

Value Added Tax (VAT) If you are registered for Value Added Tax (VAT) you can zero-rate the VAT on most goods you export to Taiwan. You will need to get evidence of the export within three months from the time of sale. Find more information on VAT in non-EU markets and zero rating conditions at: https://www.gov.uk/guidance/vat-exportsdispatches-and-supplying-goods-abroad.

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Excise duty You should check you have paid excise duty on any alcohol, alcoholic drinks, energy products, electricity or tobacco products you send to Taiwan.

Contact the DIT team at the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us for details of professionals who can provide advice on taxation in Taiwan. Customs and documentation

Complying with HMRC regulations You must make export declarations to HMRC through the National Export System (NES) to export your goods to Taiwan. See: https://www.gov.uk/guidance /export-declarations-and-the-nationalexport-system-export-procedures.

Taiwan follows the Harmonized Tariff Schedule of the Harmonized System (HTS, or HS) for the classification of goods. You must classify your goods as part of the declaration, including a commodity code and a Customs Procedure Code (CPC). You can find commodity codes and other measures applying to exports in the UK Trade Tariff: https://www.gov.uk/trade-tariff.

Contact the HMRC Tariff Classification Service at: https://www.gov.uk/government /publications/notice-600-classifying-yourimports-or-exports/notice-600-classifyingyour-imports-or-exports#list-of-usefulcontacts for more help. You must declare any goods that you take with you in your baggage to sell outside the EU, at: https://www.gov.uk/take-goodssell-abroad.

Temporary export of goods You can use an ATA (Admission Temporaire/Temporary Admission) Carnet to simplify the customs procedures needed to temporarily take goods into Taiwan. See: https://www.gov.uk/taking-goods-outuk-temporarily. You will need an export licence to temporarily take dual use goods to Taiwan. Use the SPIRE system to apply for a temporary export licence, at: https://www. spire.trade.gov.uk/spire/fox/espire/LOGIN/ login.

Customs The Taiwan Customs Administration regulates all goods imported into Taiwan, see: https://eweb.customs.gov.tw/Default. aspx. Customs duty is levied on all imported goods. The rate falls into two categories: • •

a general tariff rate

a special rate applied to goods imported from territories that offer reciprocal treatment to Taiwan

You can find more about import tariffs in the EU’s Market Access Database at: http://madb.europa.eu/madb/indexPubli.htm. [Source – DIT/ gov.uk]

Documentation It is essential to provide the correct documentation when exporting to Taiwan. Visit the Taiwan Customs Administration at: https://eweb.customs.gov.tw/Default.aspx or contact the DIT team in the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us for more guidance on export documentation procedures.

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Doing Business in Taiwan

Shipping your goods

If you are not knowledgeable about international shipping procedures you can use a freight forwarder to move your goods. A forwarder will have extensive knowledge of documentation requirements, regulations, transportation costs and banking practices in Taiwan.

You can find freight forwarding companies to help you transport your goods to Taiwan via the British International Freight Association (BIFA) at: http://www.bifa.org /home, or the Freight Transport Association (FTA) at: http://www.fta.co.uk/. Posting goods There is information about sending goods by post to Taiwan, at: https://www.parcelforce.com/worldwidedirectory/taiwan. Shipping restricted, banned and dangerous goods Special rules apply if you are shipping dangerous goods to Taiwan. See: https://www.gov.uk/shipping-dangerousgoods/what-are-dangerous-goods.

Terms of delivery Your contract should include agreement on terms of delivery using Incoterms (https://www.gov.uk/guidance/internationaltrade-paperwork-the-basics#internationaltrade-contracts-and-incoterms).

UK Export Finance The government can provide finance or credit insurance specifically to support UK exports through UK Export Finance (UKEF) – the UK’s export credit agency. See: https://www.gov.uk/government/ organisations/uk-export-finance.

For up-to-date market-specific information on the support available see UKEF’s cover policy and indicators for Taiwan at: https://www.gov.uk/guidance/countrycover-policy-and-indicators#taiwan. [Source – DIT/UKEF/gov.uk]

To find out more about export restrictions on products into Taiwan, see the EU’s Market Access Database: http://madb. europa.eu/madb/indexPubli.htm.

www.Taiwan.DoingBusinessGuide.co.uk

Taipei Street View

TAIWAN

Smart, business attire is the norm, and punctuality is expected. It is good to have a senior official with you, and you should address discussions with the most senior or elderly official present.

BUSINESS ETIQUETTE, LANGUAGE & CULTURE

TAIWAN

Doing Business in Taiwan

Business etiquette, language & culture Overview

English is widely taught in Taiwanese schools, but do not expect everyone to understand you, particularly the older generation. Mandarin is the official language of Taiwan, but Min-nan – the Southern Min dialect, or Holo, from Fujian Province in mainland China – are also widely spoken by some.

Your business cards should be translated into Mandarin, using the traditional Chinese characters (not the simplified ones used in mainland China). As in other Chinese societies, business cards should be given and received with both hands and studied carefully. The Taiwanese culture is conservative, where Confucian values revere family, hard work, punctuality, tradition and respect of authority and elders. As with mainland China, the sense of ‘face’ (Mien-tzu) is considered paramount, and consequently you should avoid causing public embarrassment and strive to maintain a sense of harmony.

Smart business attire is the norm, and punctuality is expected. It is good to have a senior official with you, and you should address discussions with the most senior or elderly official present. Wait to be introduced, and then greet the senior official first. Handshakes are the norm, but it is not uncommon to give a slight bow at the same time as a show of respect, although this will not be expected.

As in the People’s Republic of China (PRC) – which you should refer to as mainland China – successful business is about personal relationships and getting to know one another first. This can take many years, so you should show that you expect to be involved with Taiwan for the long-term and not just as a short business trip. You will probably need to visit often and show long-term commitment to Taiwan and your Taiwanese contacts – keep in touch between contracts.

‘Guanxi’ is also very widespread, where connections and relationships – both business and with the wider family and friends – are considered essential to the smooth running and harmony of society.

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Taiwanese public holidays

2018

Date:

Wednesday 4th April Thursday 5 April th

Tuesday 1 May st

Monday 18th June

Monday 24th September

Wednesday 10 October th

2019: Date:

Tuesday 1st January

Monday 4 February th

Saturday 9th February

Thursday 28th February Thursday 4th April Friday 5 April th

Wednesday 1st May Friday 7th June

Friday 13th September

Thursday 10 October th

Holiday:

Children’s Day

Tomb Sweeping Day Labour Day

Ng Tuen (Dragon Boat) Festival Mid-Autumn Festival National Day Taiwan

Holiday:

New Year’s Day

Chinese New Year begins Chinese New Year ends

Peace Memorial Day Taiwan Children’s Day

Tomb Sweeping Day Labour Day

Ng Tuen (Dragon Boat) Festival Mid-Autumn Festival National Day Taiwan

(NB – Check for possible date changes nearer the time)

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> Clear, consistent content is vital to making your business understood overseas. So don't leave it to chance.

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If you're reading this guide, the chances are you're either a seasoned exporter, or you're committed to investigating new export opportunities for your business. Whichever category you fall into, you'll have a good idea of the huge investment in time, effort and resources which is required for export success. Your priority will be to get your product or service to market, and it's a fact of life that procurement of peripheral resources such as translation is often left to the last minute. In this article we'd like to demonstrate to you how building translation into the early planning stages of your export campaigns can pay dividends. The internet, mobile connectivity and social media mean that now more than ever before customers, be they B2B or B2C, are buying goods and services within the context of a connected world of instant communication. Buying decisions carried out in isolation of wider and constantly changing sector, economic or social contexts are a thing of the past. This means that increasingly any product or service has to be supported with professional technical, marketing or other contextual content.

As examples of this, exporters need their technical documentation to be easily assimilated, their marketing content to be compelling, and their website to be informative and memorable. Human resources departments on the other hand need sensitive localisation of policies & procedures in line with local legislation, corporate guidelines and house style. After all an international expansion strategy or company restructuring could easily be undermined by insensitive internal communication.

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The following components are key to a successful translation project, and show how AST can make the process of internationalising outward-facing and internal communications simpler, more professional and more cost-effective: Rigorous selection of translators

AST’s ISO9001 certified and ISO17100 compliant processes mean that the company has approved sector-specialist translators whatever the language and deadline requirements, with experienced proofreaders to give the text precision and professionalism to really focus the reader’s attention. Translation memory technology

Client-facing documents produced periodically often contain sections which stay the same and sections which need updating. Similarly company websites and technical data or manuals can contain identical paragraphs and sections. Translation Memory technology is used in this situation to identify duplicate and legacy text. The duplicates are logged and reused – leading to reduced turnaround times and resulting

cost savings – with company wordings for products, processes, titles and descriptions translated consistently. Terminology management

The key words used to describe your company’s products, services and processes support your brand and identity. This is equally true in your foreign language communications. Unfortunately, once translated it is often easy to lose control of key terms, leading to uncertainty as to whether the translations are having the desired impact. AST’s terminology management prevents this. Glossaries are maintained in multiple languages and client terminology is checked in each language by industry sector experts. As the glossary grows it can be reused with each new project, so client content is always on-message and brand integrity consistent.

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True Love Harbor, Kaohsiung

TAIWAN

Most of the world, including the UK, does not recognise Taiwan as a sovereign entity separate from China. This has led to diplomatic isolation for Taiwan â&#x20AC;&#x201C; however, the continuing liberalisation of links across the Taiwan Strait means that foreign companies are increasingly choosing Taiwan, both as a market in its own right, and as a stepping stone into China.

WHAT ARE THE CHALLENGES? www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Doing Business in Taiwan

What are the challenges? Overview

Most of the world, including the UK, does not recognise Taiwan as a sovereign entity separate from China. This has led to diplomatic isolation for Taiwan – however, the continuing liberalisation of links across the Taiwan Strait means that foreign companies are increasingly choosing Taiwan, both as a market in its own right, and as a stepping stone into China. Market access issues faced by UK companies include: •

public construction regulations

•

sectoral challenges, including for pharmaceuticals and alcoholic beverages

•

the ‘Guanxi’ or ‘connections’ (social or business) element of doing business in Chinese society, which is based on mutual interest or benefit

Other challenges include:

• • •

Taiwan is about 14 hours away from the UK by plane

business can be impacted by typhoons between May and September Taiwan is in an earthquake zone

Contact the DIT team at the British Office Taipei, at: https://www.gov.uk/world/ organisations/department-for-internationaltrade-taiwan#contact-us for more help and advice on doing business in Taiwan.

[Source – DIT/FCO/gov.uk]

Business risk

As the situation can change at short notice, you should check the latest Foreign and Commonwealth Office (FCO) Overseas Business Risk information at: https://www.gov.uk/government/publica tions/overseas-business-risk-taiwan.

Cyber security British companies, whatever their size, may be subject to cyber-attacks. This can impact on the bottom line thefts of money, customer data or IP – and associated damage to your reputation. As a deterrent the UK Government advise companies to get their cyber security right. This is a board-level issue that all businesses need to deal with, and the ‘10 Steps to Cyber Security’ (https://www.gov.uk/ government /publications/cyber-risk-management-aboard-level-responsibility) guidance provides advice on how to protect your business.

Smaller firms starting out with implementing cyber security measures may find the related ‘Cyber Security: what small businesses need to know’ guidance more useful, at: https://www.cyberaware.gov.uk/. Businesses wishing to implement the most important technical controls, and demonstrate that they take cyber security seriously can apply to be assessed under the Cyber Essentials Scheme, leading to the Cyber Essentials or Cyber Essentials PLUS badge – see: https://www. cyberessentials.ncsc.gov.uk/. Companies may also wish to consider joining the Cyber Information Sharing Partnership at: https://www.ncsc.gov.uk/, which shares real-time cyber threat information.

Visit the Website and download the free Mobile App

Commercial disputes Disagreements and disputes can occur in the business community in Taiwan, particularly involving small companies which may be perceived as vulnerable to pressure. Disputes may arise between companies or between a company and the authorities. We generally refer to such incidents as business or commercial disputes. While the majority of foreignowned businesses in Taiwan operate successfully, commercial disputes can damage confidence and cause concern in the business community.

The DIT team in Taiwan can offer basic advice and information on the local legal system. They can offer a list of Englishspeaking lawyers, although the list may not always include law practices specialising in commercial disputes.

However, business disputes are primarily a matter for arbitration or the courts.

Whilst DIT in Taiwan can seek clarification from the authorities over your situation, they cannot intervene directly with the courts or the authorities in every case. Your first point of contact should be a reputable lawyer with appropriate experience and knowledge of law and business practice in Taiwan.

DIT are not qualified to offer you legal advice, nor pay your legal fees, undertake an investigation or guarantee your safety in Taiwan, nor can they arrange special treatment because you are a British citizen. They also do not provide dedicated translation services.

Bribery and corruption Bribery is illegal. It is an offence for British nationals or someone who is ordinarily resident in the UK, a body incorporated in the UK or a Scottish partnership, to bribe anywhere in the world.

In addition, a commercial organisation carrying on a business in the UK can be liable for the conduct of a person who is neither a UK national nor resident in the UK or a body incorporated or formed in the UK. In this case it does not matter whether the acts or omissions which form part of the offence take place in the UK or elsewhere. Taiwan was ranked 29th out of 180 markets in the latest 2017 Transparency International's Corruption Perceptions Index (CPI). Whilst there have been high-profile cases of corruption involving major contracts in Taiwan, the large majority of business transactions take place without corruption. See: https://www.transparency.org/news/feature /corruption_perceptions_index_2017. Also read the information provided on the UK Governmentâ&#x20AC;&#x2122;s bribery and corruption page at: https://www.gov.uk/anti-briberypolicy.

FCO overseas business risk If you are travelling to Taiwan for business, check the Foreign & Commonwealth Office (FCO) pages for the latest business risk advice to help you prepare for your visit: https://www.gov.uk/government/publica tions/overseas-business-risk-taiwan. [Source â&#x20AC;&#x201C; FCO Overseas Business Risk/gov.uk]

www.Taiwan.DoingBusinessGuide.co.uk

Doing Business in Taiwan

Intellectual Property (IP) IP rights are territorial: they only give protection in the countries or markets where they are granted or registered. If you are thinking about trading internationally, then you should consider registering your IP rights in your export markets. Intellectual Property Rights continues to be a subject near the top of many companies’ agendas when they consider entering the Taiwanese market.

The Intellectual Property framework in Taiwan is well developed and the local authorities have adopted a number of measures in recent years to strengthen IP protection. According to the World Economic Forum’s 2017-2018 Global Competitiveness Report, Taiwan was ranked 27th out of 137 economies ranked for Intellectual Property protection.

The UK and Taiwan have regular constructive dialogues on Intellectual Property issues. On 1st December 2017 the UK Intellectual Property Office signed a Memorandum of Understanding to make it easier for UK and Taiwanese businesses in biotechnology and pharmaceutical fields to protect their Intellectual Property.

In another positive move, Scotch whisky was registered as a trademark in both English and Mandarin in Taiwan in 2016. This was a major breakthrough for the industry in one of its most important global markets.

Further information is provided on the UK Government’s Intellectual Property page at: https://www.gov.uk/intellectual-propertyan-overview.

The establishment of a dedicated IP Court in 2008 was widely welcomed by the business community, and seen as a step in the right direction. The Trade Secrets Act was amended in January 2013 to increase criminal penalties for trade secret misappropriation, including enhanced sanctions for cross-border secrets theft. More recently, the Patent Attorney Act was amended in January 2016. The amendment simplified administrative procedures, expanding areas of practice and introduced heavier punishment for malpractice.

The website of the Taiwanese Intellectual Property Office (TIPO) at: https://www. tipo.gov.tw/mp.asp?mp=2 contains useful information in English. According to TIPO, the average waiting time to acquire a new patent in Taiwan is 15 months.

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Daxi Bridge, Taoyuan

Taking part in overseas exhibitions is an effective way for you to test markets, attract customers, appoint agents or distributors and make sales.

RESOURCES www.Taiwan.DoingBusinessGuide.co.uk

What does membership of the Institute of Export & International Trade mean?

To most the Institute of Export & International Trade simply plods away providing much needed qualifications to professionalise the industry however, did you realise that our helpline is one of the busiest and best in the industry? It’s all part of membership and, if you need more than a phone call, we can put together a project to fulfil your needs. 2015 saw the launch of our Technical Help for Exporters that recognises the volume of legislation and regulation that covers our industry and gives you the comfort of knowing that if you don’t know, you know someone who does!

Innovation is key to the success of the Institute and new ideas include our New Exporter package. This allows a business to enter a new market secure in the knowledge that they have an understanding of how they will operate and comply with any specific regulations and standards. Practical help and assistance is always available from the Institute so any additional training can be tailored to the business and the team that needs the knowledge. The work of the IOE&IT also extends to representing membership views. Knowledge gained from our members’ feedback, those who get involved with

the forums and Special Interest Groups, and those who attend our training courses or study with us, enables us to represent the industry at government levels in both the process and delivery of policy for international trade. These views also help us to ensure that the training programmes are effective and pertinent to the industry needs. Our Diploma in World Customs Compliance and Regulation is testament to the way we listen to our members’ needs. This was driven by Nissan, Adidas, John Lewis and many others and will neatly dovetail into any AEO work ensuring that quality standards are met at manager and junior staffing levels.

www.export.org.uk

Starting in 1935, the Institute committed itself to building competence and growing confidence for businesses trading in goods and services, which at the time, was a far reaching remit. Over the years this remit has seen us develop from simply providing training in short course format over a day, or perhaps two, into a fully-fledged Ofqual Awarding Organisation that operates specifically to deliver international trade education.

This status allows our individual members and corporates alike to be sure that they are part of a quality organisation with plans for growth integrated with a sustainable future for the global prosperity of UKPlc.

Part of our work includes mapping existing qualifications to roles and producing training needs analyses to ensure staffing progression and continuity. The need to upskill our workforce to match those of our competitors is a key element vital for growth. Our focus is on recognising that International trade needs specific knowledge, coupled with a strong belief that we must start to talk to

our young people at an earlier stage. We need to engage the next generation in thinking about how world trade works and how it will be great for British businesses. They need to know how items arrive in the shops which, in turn, will begin to spark ideas. As these young people join companies they will bring a fresh outlook that all things are possible especially if you operate globally.

Why not call us and get involved? It has never been more important that we act as an industry to help â&#x20AC;&#x201C; we need experts and commitment to professionalising international trade from businesses large and small â&#x20AC;&#x201C; help your institute to stay ahead of the curve. Institute of Export & International Trade Export House Minerva Business Park, Lynch Wood, Peterborough, Cambridgeshire, PE2 6FT, UK Telephone: +44(0)1733 - 404400 Fax: +44(0)1733 - 404444

Lesley Batchelor OBE, FIEx (Grad) – Director General, Institute of Export & International Trade

Focusing on qualifications. A focus on qualifications - but why do we need them?

I’d like to tell you about my story, it’s ok it won’t take too long but I think it’s similar to a lot of people that work in international trade.

I left school with no ambition to do anything other than help my mum make ends meet. I wanted to be a seamstress but we couldn’t afford the material for the interview so I went into an accounts department at a large pharmaceutical company. Luckily for me they recognised a hard worker and asked me to work in various departments. After a year they asked me which one I like the best and without even thinking I said “international”, and that was my career set out for me. Working in international trade I found that I needed to understand so many different things - from how trade agreements impacted a sale to the legal aspects of trade and how different systems worked in terms of contract and disputes. Getting paid brought about a whole new set of issues and this really made me learn and think about the implications of offering credit and how it can be used to your advantage. Things I learnt about logistics and the paperwork that was needed to support a trade were empirical and slowly I became sure of my knowledge. The problem was, that when I wanted to move on to the next company, I had nothing to show I had that knowledge. It was frustrating to find that the knowledge that I had accumulated over 11 years wasn’t evidenced in any way and that no-one knew exactly what I knew. I was lucky enough to get my next job with a well-known Japanese computer company but it made me realise that if I wanted a career, I needed to get qualified.

So I spent the next two years, two nights a week at night school honing my skills and building a knowledge and understanding of all aspects of the trade I had entered “by the back door”. Finally, exhausted but with a full understanding of how planning and control worked, I passed and became a Graduate Member of the Institute of Export & International Trade, suffix MIEx (Grad) in 1991.

Well, many things have changed since then, as after many years of working in international trade, I took over at the helm, steering the qualifications and the Institute towards a better place. We have now gained Ofqual Awarding Organisation status for the qualifications and have worked hard on ensuring we are ready for the next 80 years of representing the industry and standing as guardian of professional standards in international trade.

OFQUAL* awarding status is hard earned and we are proud to be the only professional body operating in this international trade environment.

IOE&IT Qualifications in brief www.export.org.uk/page/qualifications Level 1

Level 2

Level 3 Level 4

Level 5 Level 6

Young International Trader (Available electronically) International Trade Logistic Operations ** Certificate of International Trade Certified International Trade Adviser Advanced Certificate in International Trade Diploma in International Trade Diploma in World Customs Compliance and Regulations Foundation Degree jointly delivered with ***Anglia Ruskin University Higher Apprenticeship in International Trade - the first so far.

Our courses at level 3 onwards are delivered online using a blended learning technique which involves the support of an expert tutor for each topic. The IOE&IT online campus offers a range of learning tools, from power-point presentations and videos to online chats and forums for the students. The Institute has a success rate of 95% in helping our students through these academic programmes.

The Advanced Certificate in International Trade - Elective modules have been added to the level 4 Advanced Certificate syllabus. In addition to the three core modules of Business Environment, Market Research & Marketing and Finance of International Trade, students can now choose a fourth elective module from:

a. International Physical Distribution b. Selling Services, Skills and Software Overseas c. Or one of: i.

Doing business & communicating in Arabic speaking markets ii. Doing business & communicating in Spanish speaking markets iii. Doing business & communicating in German markets iv. Doing business & communicating in Chinese markets v. Doing business & communicating in Russian markets

The series of modules above carry language skills training, the focus being on basic business language needed and business culture Finally, eBusiness internationally will be launched summer 2016.

The Diploma in International Trade level 5 is equivalent to the second year of a degree and is accepted as entry level for:-

BSc (Hons) in Management Practice International Trade with Plymouth University -Online 24 months

MSc International Trade, Strategy and Operations with Warwick University - 36 months part residential

www.export.org.uk/page/qualifications will give you more detail and a contact who will talk you through your options.

*The OFQUAL Register of Regulated Qualifications contains details of Recognised Awarding Organisations and Regulated Qualifications in England (Ofqual), Wales (Welsh Government) and Northern Ireland (Ofqual for vocational qualifications and CCEA Accreditation for all other qualifications). ** International Trade Logistic Operations is delivered through our approved centres *** Anglia Ruskin University is Entrepreneurial University of the Year

If you are not a British citizen but think you may be eligible, contact us to apply for an emergency travel document, here: https://www.gov.uk/world/organisations/british -office-taipei#contact-us. The British Office Taipei maintains and develops relations between the UK and Taiwan.

Find out more on their UK and Taiwan news page, here: https://www.gov.uk/world/ taiwan/news. The British Office Taipei provide services to British nationals living in and visiting Taiwan. You can access UK Government services while in Taiwan, here: https://www.gov.uk/world/taiwan. Urgent assistance (24 hours) If you are in Taiwan and you need urgent help (for example, you have been attacked, arrested or someone has died), call +886 2 8758 2088. If you are in the UK and worried about a British national in Taiwan, call 020 7008 1500.

Get an emergency travel document You can apply for an emergency travel document if you are abroad and your passport has been lost or stolen, damaged or expired, and you cannot get a new or replacement passport in time to travel, here: https://www.gov.uk/emergency-traveldocument.

If the person needing the emergency travel document is under 16, a parent or guardian should apply on their behalf. If you are due to travel in the next 24 hours, contact the British Office Taipei as soon as possible, here: https://www.gov.uk/world/organisations/ british-office-taipei#contact-us. If you are travelling in more than 3 weeks, check if you can get a new or replacement passport in time to travel, here: https://www.gov.uk/renew-adult-passport.

If you are not a British citizen or have not had a British passport before If you are not sure, check if you are a British citizen, here: https://www.gov.uk/checkbritish-citizen.

Once you have contacted British Office Taipei, you will be advised to make an appointment to apply for an emergency travel document at the British Office Taipei, here: https://www.consular-appointments.service. gov.uk/fco/#!/british-office-taipei/issuingan-emergency-travel-document/service_list.

Other consular services Get a certified copy of a British passport This service is for customers who need a certified photocopy of a British passport. Please be aware that the British Office Taipei cannot provide certified copies of British or foreign birth certificates, or foreign identity documents nor of any educational qualifications obtained in the UK. Enquires can be sent to the British Assistance & Services Section by email (Bass.Taipei@fco.gov.uk) or you can call +886 2 8758 2088. You can make an appointment for a certified copy of a British passport, here: https://www.consular-appointments.service. gov.uk/fco/#!/british-office-taipei/making-acertified-copy-of-a-document/slot_picker.

You will need to bring with you: · ·

The original British passport that you need a certified copy of Proof of identity/address

Contact details:

British Office Taipei 26F, President International Tower No. 9-11, Song Gao Road, Xin Yin District Taipei 11073 Taiwan

Email: info.taipei@fco.gov.uk Email: Bass.Taipei@fco.gov.uk (consular enquiries) Telephone: +886 (2) 8758 2088 Fax: +886 (2) 8758 2050

Office hours: Monday to Friday 9:00am to 12:30pm and 1:30pm to 5:00pm (Local Time) 1:00am to 4:30am and 5:30am – 9:00am (GMT)

Tel: +44 (0) 1733 404400

Website: www.export.org.uk

In the past five years, we have provided:

• • •

s t

UK Export Finance is the UK’s export credit agency, serving UK companies of all sizes. We help by providing insurance to exporters and guarantees to banks to share the risks of providing export finance. In addition, we can make loans to overseas buyers of goods and services from the UK.

£14 billion worth of support for UK exports; direct support for more than 300 customers supported directly, with many thousands more benefiting through export supply chains; nearly 2000 individual guarantees, loans or insurance policies.

UK Export Finance is the operating name of the Export Credits Guarantee Department (ECGD).

For more information and to arrange a free consultation with an Export Finance Adviser, visit: https://www.gov.uk/ government/organisations/uk-exportfinance New business enquiries:

Telephone: +44 (0)20 7271 8010 Email: customer.service@ukexportfi nance.gov.uk

British Expertise 23 Grafton Street, London W1S 4EY

Tel: +44 (0)20 7824 1920 Fax: +44 (0)20 7824 1929

http://www.britishexpertise.org/bx/pages/ bx.php E

SUPPORTING ORGANISATIONS

The Institute of Export & International Trade Export House Minerva Business Park Lynch Wood Peterborough PE2 6FT, UK

SUPPORTING ORGANISATIONS

Department for International Trade (DIT) Enquiry Service: Tel: +44 (0)20 7215 8000 Email: enquiries@trade.gsi.gov.uk

Department for International Trade (DIT): If you have a specific enquiry about the market which is not addressed by the information in this guide, you may contact: Email: enquiries@trade.gsi.gov.uk Tel: +44 (0)20 7215 8000 Fax: +44 (0)141 228 3693

Website: www.gov.uk/government/ organisations/department-for-internationaltrade

Otherwise contact the DIT team at the British Office in Taipei directly, for more information and advice on opportunities for doing business in Taiwan: UK Department for International Trade Taipei 26F, President International Tower No. 9-11, Sung Gao Road Taipei 11073 Taiwan Email: info.taipei@fco.gov.uk Enquiries: +886 (2) 8758 2088

British Chamber of Commerce in Taipei 26F, President International Tower 9-11 Song Gao Road Taipei 11073 Taiwan 台北市松高路9-11號統一國際大樓26樓 Tel: +886 (2) 2720 1919 Fax: +886 (2) 2720 9200

Email: info@bcctaipei.com Website: http://www.bcctaipei.com/

Language Services AST Language Services Ltd Unit 8, Ayr Street, Nottingham NG7 4FX United Kingdom

Tel: +44 (0)115 970 5633 Fax: +44 (0)845 051 8780 Email: office@astls.co.uk

www.astlanguage.com

Chen & Lin Attorneys-at-Law Bank Tower 12th Floor 205 Tun Hwa North Road Taipei 105 Taiwan

Telephone: 886-2-2715-0270 Fax: 886-2-2514-7510

Email: chchen@chenandlin.com Website: www.chenandlin.com Contact Name: Che-Hung Chen, Esq. Managing Partner

Banking / Financial Services HSBC Bank (Taiwan) Limited Telephone: 886-2-66339000

Website: www.business.hsbc.com.tw Accountants / Professional Business Services JYH HER CPAS Firm 10F., No.46, Lane 11 Guangfu N. Rd. Songshan District Taipei City 105 Taiwan, R.O.C

Phone: +886-2-27763899 ext.100 Fax: +886-2-27763839 Contact: Hannah Huang Email: hannah@eaccount.com.tw

Website: www.eaccount.com.tw

MARKET EXPERTS

Law / Legal

Useful links

Market information: BBC Website: http://news.bbc.co.uk/1/hi/country_ profiles/default.stm

FCO Market Profile: https://www.gov.uk/foreign-traveladvice/taiwan

Culture and communications: ICC â&#x20AC;&#x201C; The international language association: www.icc-languages.eu/links/156-thenational-centre-for-languages-cilt

Customs and regulations: HM Revenue & Customs: https://www.gov.uk/government/ organisations/hm-revenue-customs Economic information: The Economist: http://www.economist.com/topics Trading Economics: www.tradingeconomics.com

Export control: Export Control Joint Unit: https://www.gov.uk/guidance/beginnersguide-to-export-controls Export finance and insurance: British Insurance Brokers Association (BIBA): www.biba.org.uk

UK Export Finance (formerly ECGD): www.gov.uk/government/organisations/ uk-export-finance

Intellectual Property: Intellectual Property Office: https://www.gov.uk/government/ organisations/intellectual-property-office

World Intellectual Property Organization (WIPO): http://www.wipo.int/treaties/en/text.jsp?file _id=288514 Standards and technical regulations: British Standards Institution (BSI): https://www.bsigroup.com/en-GB/

Export Control Joint Unit (ECJU): https://www.gov.uk/government/ organisations/export-control-organisation Intellectual Property Office: https://www.gov.uk/government/ organisations/intellectual-property-office National Physical Laboratory: http://www.npl.co.uk/

Trade statistics: HM Revenue and Customs (HMRC): https://www.uktradeinfo.com/statistics/ buildyourowntables/pages/table.aspx

National Statistics Information: https://www.gov.uk/government/ statistics/announcements Office for National Statistics: http://www.ons.gov.uk/

Trade shows: British Expertise Events: http://www.britishexpertise.org/bx/pages/ bx.php EventsEye.com online database: www.eventseye.com DIT Events Portal: https://www.events.trade.gov.uk/

Travel advice: FCO Travel: www.gov.uk/browse/abroad

Visit the Website and download the free Mobile App

Doing Business in Taiwan FCO Foreign Travel Insurance: https://www.gov.uk/guidance/foreigntravel-insurance Healthcare abroad: Travel health: www.travelhealth.co.uk

TravelHealthPro: https://travelhealthpro.org.uk/countries NHS (Scotland): http://www.fitfortravel.nhs.uk/ destinations.aspx

NHS Choices: https://www.nhs.uk/nhsengland/Health careabroad/pages/Healthcareabroad.aspx International trade: British Chambers of Commerce (BCC): www.britishchambers.org.uk British Council: www.britishcouncil.org

British Expertise: http://www.britishexpertise.org/bx/pages/ bx.php British Franchise Association: http://www.thebfa.org/international

Centre for the Protection of National Infrastructure (CPNI): http://www.cpni.gov.uk/

Confederation of British Industry (CBI): www.cbi.org.uk

Department for Business, Energy & Industrial Strategy (BEIS): https://www.gov.uk/government/ organisations/department-for-businessenergy-and-industrial-strategy

Department for International Trade (DIT): https://www.gov.uk/government/ organisations/department-forinternational-trade DIT e-exporting programme: https://www.gov.uk/guidance/e-exporting Export Britain: http://exportbritain.org.uk/ Exporting is GREAT: https://www.great.gov.uk/

Foreign & Commonwealth Office (FCO): www.gov.uk/government/organisations/ foreign-commonwealth-office Institute of Directors (IoD): www.iod.com

Institute of Export & International Trade (IOE&IT): www.export.org.uk International Monetary Fund (IMF): http://www.imf.org/external/index.htm

Market Access database: http://madb.europa.eu/madb/indexPubli.htm Open to Export: http://opentoexport.com/

Organisation for Economic Co-operation and Development (OECD): http://www.oecd.org/

Overseas business risk: https://www.gov.uk/government/ collections/overseas-business-risk Transparency International: http://www.transparency.org/

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Doing Business in Taiwan

UK Trade Tariff: https://www.gov.uk/trade-tariff

UK Visas: https://www.gov.uk/government/ organisations/uk-visas-and-immigration World Bank Group economy rankings: http://www.doingbusiness.org/rankings

World Economic Forum Global Competitiveness Report: https://www.weforum.org/reports/theglobal-competitiveness-report-2017-2018

Taiwanese websites: Bureau of Foreign Trade (BOFT): http://www.trade.gov.tw/English/

Bureau of Standards, Metrology and Inspection (BSMI): http://www.bsmi.gov.tw/wSite/mp?mp=2 Central Weather Bureau: http://www.cwb.gov.tw/eng/index.htm Directorate General of Highways: http://www.thb.gov.tw/sites/en/

Environmental Protection Administration: https://www.epa.gov.tw/mp.asp?mp=epaen Executive Yuan: https://english.ey.gov.tw/Default.aspx

Fair Trade Commission: http://www.ftc.gov.tw/internet/english/ index.aspx Financial Supervisory Commission: http://www.fsc.gov.tw/en/index.jsp

International Community Radio Taipei (ICRT): https://www.icrt.com.tw/

Invest Taiwan (Department of Investment Services): https://www.taiwan.gov.tw/index.php Ministry of Economic Affairs (MOEA): http://www.moea.gov.tw/Mns/english/ home/English.aspx Ministry of Finance: https://www.mof.gov.tw/Eng/Home

Ministry of Health and Welfare: http://www.mohw.gov.tw/mp-2.html Ministry of Labour: http://english.mol.gov.tw/

Taipei Representative Office in London: http://www.roc-taiwan.org/uk/ Taiwan Centers for Disease Control: http://www.cdc.gov.tw/rwd/english

Taiwan Council of Agriculture (COA): http://eng.coa.gov.tw/

Taiwan Customs Administration: https://eweb.customs.gov.tw/Default.aspx

Taiwan Government e-procurement System: http://web.pcc.gov.tw/tps/pss/tender.do? method=goNews Taiwan Intellectual Property Office: https://www.tipo.gov.tw/mp.asp?mp=2 Taiwan Tourism Bureau: http://eng.taiwan.net.tw/

Visit the Website and download the free Mobile App

Doing Business in Taiwan

Trade shows

A trade show is a method of promoting a business through the exhibition of goods and services, an organised exhibition of products, based on a central theme, where manufacturers meet to show their products to potential buyers.

Taking part in overseas exhibitions is an effective way for you to test markets, attract customers, appoint agents or distributors and make sales. DIT's Tradeshow Access Programme (TAP) provides grant support for eligible SME firms to attend trade shows overseas.

Participation is usually as part of a group, a great advantage for inexperienced businesses, and is usually led by one of DIT's Accredited Trade Associations (ATOs). ATOs work with DIT to raise the profile of UK groups and sectors at key exhibitions. For more information, visit: https://www.gov.uk/guidance/tradeshow-accessprogramme. IOE&ITâ&#x20AC;&#x2122;s events: www.export.org.uk/events/event _list.asp

10 Times (formerly BizTradeShows.com): www.10times.com/taiwan

British Expertise Events: www.britishexpertise.org/bx/pag es/bx_events.php

EventsEye.com online database: www.eventseye.com DIT online events search facility: www.events.trade.gov.uk

www.Taiwan.DoingBusinessGuide.co.uk

TAIWAN

Disclaimer Whereas every effort has been made to ensure that the information given in this Guide is accurate, neither International Market Advisor (IMA), the Institute of Export & International Trade (IOE&IT), the British Office Taipei, the British Chamber of Commerce in Taipei, UK Export Finance (UKEF), Department for International Trade (DIT), or the Foreign & Commonwealth Office (FCO), accept liability for any errors, omissions or misleading statements and no warranty is given or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned.

The purpose of the Doing Business Guides, prepared by International Market Advisor (IMA) is to provide information to help recipients form their own judgments about making business decisions as to whether to invest or operate in a particular market. The report's contents were believed (at the time that the report was prepared) to be reliable, but no representations or warranties, express or implied, are made or given by IMA, the IOE&IT, the British Office Taipei, the British Chamber of Commerce in Taipei, UKEF, DIT or the Foreign and Commonwealth Office (FCO) as to the accuracy of the report, its completeness or its suitability for any purpose.

In particular, none of the report's contents should be construed as advice or solicitation to purchase or sell securities, commodities or any other form of financial instrument. No liability is accepted by IMA, IOE&IT, the British Office Taipei, the British Chamber of Commerce in Taipei, UKEF, DIT, or the FCO for any loss or damage (whether consequential or otherwise) which may arise out of or in connection with the report.

No warranty is given, or responsibility accepted as to the standing of any individual, firm, company or other organisation mentioned.

Contains public sector information licensed under the Open Government Licence v3.0.

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