August 2017
The Legislative Yuan adopted the amendment of Business Registration Law(Taiwan)
Jenny Chen
The Legislative Yuan adopted the Business Registration Law as amended (hereinafter, the "Law") on April 19, 2016. The amendments are highlighted below:
1. Article 5, Paragraph 2 of the Law was revised to specifically stipulate that with respect to small-scale businesses whose registration application is exempt, family farming, forestry, fishing and stock-raising businesses and family handicraft businesses shall be limited to those operated by the owners or primarily by the owners even though employees are hired.
2. Article 9, Paragraph 1, Subparagraph 6 of the Law is revised so that business registration application should include the registration of the type of capital contribution.
3. Article 19 of the Law is revised to specifically stipulate that the following business registration shall be published by the local competent authority in its information website for inquiry: (1) name, (2) organization, (3) scope of business, (4) capital, (5) location, (6) name of representative and capital contribution, (7) name of partners and their capital contribution in case of a partnership, and (8) name, location and name of managerial officer of any affiliate. In case of any discrepancy between the publication and the registration, the registration shall control. In addition, the requirement under Article 21 that if other types of registration are required pursuant to other laws with respect to relevant business registration, a uniform certificate shall be issued is deleted.
4. Article 29, Paragraph 1, Subparagraph 5 of the Law is revised where if the amendment registration of a business name whose use is prohibited by a final court decision is not completed within six months after the final decision and in case the registration is ordered by the local business authority to be completed within a requested period, the competent authority may cancel or revoke the business registration of some of the registered items ex official, upon notification by a prosecution agency or upon application by an interested party.
5. Article 28 of the Law is revised where a previously lawfully registered store has the same name as that of another store due to adjustment to administrative areas, such stores can be allowed to co-exist under the principle of legitimate expectation so as to safeguard their existing rights.
The Legislative Yuan adopted the Business Registration Law as amended (hereinafter, the "Law") on April 19, 2016. The amendments are highlighted below:
1. Article 5, Paragraph 2 of the Law was revised to specifically stipulate that with respect to small-scale businesses whose registration application is exempt, family farming, forestry, fishing and stock-raising businesses and family handicraft businesses shall be limited to those operated by the owners or primarily by the owners even though employees are hired.
2. Article 9, Paragraph 1, Subparagraph 6 of the Law is revised so that business registration application should include the registration of the type of capital contribution.
3. Article 19 of the Law is revised to specifically stipulate that the following business registration shall be published by the local competent authority in its information website for inquiry: (1) name, (2) organization, (3) scope of business, (4) capital, (5) location, (6) name of representative and capital contribution, (7) name of partners and their capital contribution in case of a partnership, and (8) name, location and name of managerial officer of any affiliate. In case of any discrepancy between the publication and the registration, the registration shall control. In addition, the requirement under Article 21 that if other types of registration are required pursuant to other laws with respect to relevant business registration, a uniform certificate shall be issued is deleted.
4. Article 29, Paragraph 1, Subparagraph 5 of the Law is revised where if the amendment registration of a business name whose use is prohibited by a final court decision is not completed within six months after the final decision and in case the registration is ordered by the local business authority to be completed within a requested period, the competent authority may cancel or revoke the business registration of some of the registered items ex official, upon notification by a prosecution agency or upon application by an interested party.
5. Article 28 of the Law is revised where a previously lawfully registered store has the same name as that of another store due to adjustment to administrative areas, such stores can be allowed to co-exist under the principle of legitimate expectation so as to safeguard their existing rights.
