Have you considered growing your company in Taiwan? It has great links to the Asia Pacific region and have recently begun to address the need for internationalization to progress as a country. Below are outlined 5 reasons why Taiwan could be the perfect location to expand your business.
A Diversified Supply Chain: About a quarter of China’s exports are from the subsidiaries of Taiwanese companies and many companies have bases in nearby countries, providing you with a diversified supply chain. Any companies seeking to build hardware products will find Taiwan an exciting location to expand to since there is no shortage of high-quality suppliers and partners that offer both finished and unfinished components.
Excellent Transport Links: Situated close to China and Hong Kong, Japan, South Korea and South-East Asia, Taiwan sits in the centre of the Asia-Pacific region. Daily flights and short immigration processes aid in maximizing your time and make international business effective.
Gateway to Asia: Due to its central location, Taiwan is an ideal location to start your expansion into Asia. This applies particularly to China, where the culture and market is similar to Taiwan’s. The connections you make while in Taiwan will be vital to you when you begin to expand into the Chinese market, so make sure to quickly form good relationships with your partners.
An Advantageous Legal Environment: Taiwan is very welcoming to outside investment. Additionally, in comparison to other countries (such as the Philippines) where foreigners cannot own 100% of the shares of any business, in Taiwan this is permitted; foreigners also hold almost the same rights as locals which allows for smooth business operations in the new country.
Good Quality of Life: Taiwan boasts excellent infrastructure and access to healthcare, human rights, and freedom of speech is expected. Corruption is rare, meaning you can be fairly confident in any situation of honest and unbiased relationships, as well as a just hearing should a legal situation arise.
These are just a few of the reasons why Taiwan might be worth your consideration. However, we understand that starting out in a new environment can be challenging and overwhelming; contact us here for more advice and a free online consultation!