Taiwan Legal Channel :: Business Liquidation in Taiwan

Business Liquidation in Taiwan

During the liquidation process, the liquidators are deemed as a company’s responsible persons. Unless otherwise appointed, shareholders of a limited company or directors of a company limited by shares shall be liquidators. The process of liquidating a Taiwan company can be divided into the following four main steps.

	`Duration`	`From`	`To`
`Step 1`	`15 days`	`liquidator's assumption of office`	`The court being notified about liquidation`
`Step 2`	`6 months (extendable after applying with the court)`	`liquidator's assumption of office`	`completion of liquidation`
`Step 3`	`15 days`	`completion of liquidation`	`Circulating liquidation statements to shareholders for approval`
`Step 3`	`15 days`	`Upon the shareholders approving liquidation statements`	`The court being notified about completion of liquidation`

Under Taiwn law, post-liquidation files shall be safekept in Taiwan for a period of 10 years. Liquidation procedures in Taiwan involves many details. The introduction above is intended to give a general introduction and you need to consult independent advice before applying the information above. If you require further assistance, please contact aliciahsulawyer@gmail.com. (AUGUST 2020)