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Taiwan passed a significant amendment to the Company Act which officially came into effect on 1 November 2018. Major changes brought by the Company Act amendment include the following:
- New statutory audit requirements
- Requirements for regular upload of information related to directors, supervisors, managers and shareholders to the Government’s website.
- Reducing the required minimum number of directors/supervisors for a Company Limited by Shares.
- Introducing no par value shares for a Company Limited by Shares.
- Shareholders’ meetings can be held via video conference for a private companies if this is prescribed in the articles of incorporation.
- A company’s articles of incorporation may permit written consent in lieu of holding a directors’ meeting.
- The need to appoint a litigious and none litigious agent for a Branch Office has been abolished.
- Companies are permitted to register English Names together with Chinese Names.
