Overview of Director and Major Shareholder Reporting in Taiwan
Q1: Who should file the reporting?
A: All of business entities registered in the form of company need to file the company director and major shareholder reporting, such as limited company, limited company by shares.
A branch and representative office do not need to file the reporting.
Q2: What information should a company report?
A: Companies need to report its director, supervisor and 10% shareholder(s) with their nationality, birth date, ID and holding shares.
Q3: What is the deadline for the reporting?
A: The deadline for the reporting are as below:
- For a newly set up company, the deadline will be 15 days after the incorporation.
- If any change during a year, the deadline will be 15 days after the change.
- No change during a year, the deadline will be March 31st.
Q4: What is the penalty if I failed to file the company representative and major shareholder reporting?
A: The government authority will notify the company first; and if the company fails to take corrective action beyond the given time limit, the director representing the company will be imposed with a fine of not less than NT$ 50,000 but not more than NT$ 500,000;
and if the company still fails to take corrective action beyond the second given time limit, the director representing the company shall be imposed with a fine of not less than NT$ 500,000 but not more than NT$ 5,000,000 consecutively for each non-compliance until the law violating act is rectified.
If the violating act is material, the central competent authority may nullify its incorporation registration.
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