Establishing a Business Entity in Taiwan (Updated)

International Lawyers Network

Introduction to Taiwan -

In less than 50 years starting from 1949, Taiwan went from an agriculture-based economy to being an economic powerhouse and leader in the field of high-tech goods. Its Gross Domestic Product (GDP) grew from US$1.2 billion in 1951 to US$774.7 billion in 2021. According to the World Trade Organization, in 2021, Taiwan was the 16th largest exporter and 17th largest importer of goods in the world. In terms of services, Taiwan ranked 27th for the export and import of commercial services. In the same year, its services sector accounted for nearly 60.57% of its GDP, while manufacturing and construction accounted for 32.88% and 3.33%, respectively. Taiwan, as a leader in the information and communications technology industry, is one of the world's largest semiconductor, computer and mobile phone providers, and one of the world's largest producers of computer monitors.

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