The Ministry of Economic Affairs promulgated the amendments to the Rules for Company Registration (hereinafter, the “Rules”) and changed their name (original name: the Rules for Company Registration and Recognition) via the Jing-Shang-10702424820 Directive of November 8, 2018. Consisting of six articles in total, the amendments came into effect on November 1, 2018. The amendments are highlighted below:
First, to accommodate the abolition of the recognition system for foreign companies under the Company Law, the Rules are renamed as the Rules for Company Registration from the Rules for Company Registration and Recognition, and relevant provisions, forms and formats are amended to accommodate all kinds of practical registration needs.
In addition, to accommodate Article 387, Paragraph 2 of the Company Law, separate enforcement rules are formulated for specifics about electronic registration application, and the provisions concerning electronic application under Articles 2 and 6 of the Rules are removed.
Furthermore, Article 4 of the Rules is amended so that in case of any deceased shareholder of an unlimited company, unlimited company with limited liability and limited company, amendment registration application may be filed within 15 days after inheritance supporting documents are obtained.
Finally, to facilitate a foreign company’s establishment of a branch office to operate business within the territories of the Republic of China, Article 5 of the Rules additionally stipulates that a foreign company applying to register a newly established branch office or representative office may supplement a copy of the letter of consent from the owner of the building and a copy of ownership documentation within thirty days after the registration application is approved.