Bank Account Opening – OBU

In today's market, numerous consultancy firms assist clients in registering and establishing companies. However, the crucial element is having a bank account to support trade and financial operations post-registration. Our goal is to help clients establish a reliable local banking relationship in Taiwan, specifically by opening an OBU (International Banking Unit) account to enhance their business planning. While OBU may be misconstrued as offshore, it actually pertains to accounts of overseas companies in Taiwan. The government has separated Offshore Banking Units (OBUs) from the local financial system, employing offshore currencies to facilitate offshore clients' transactions and offering incentives like rental tax exemptions and financial regulatory exemptions to attract international financial players.

Bank Account Opening

The main features of OBU are as follows

Capital mobility

The unrestricted flow of funds in international exchange enables the seamless movement of funds, typically with minimal limitations on international financial branches.
Tax incentives

In order to attract more traders to come and trade, the country often provides deposit reserves and deposit insurance for international financial business branches as a matter of policy.
Simplify the process

Overseas companies do not have any local tax issues in Taiwan. International trade conducted by foreign customers in OBU (Offshore Banking Units) is not subject to sales tax, profit-seeking enterprise income tax, stamp duty, and other taxes in Taiwan. This is because the transaction behavior and the actual place of operation occur outside of Taiwan, allowing for legal tax savings.
Preferential lending rates

OBU provides a cost-efficient capital source, allowing foreign clients to benefit from better lending rates. It simplifies import and export operations, including opening letters of credit and conducting foreign exchange transactions. The freedom of capital access streamlines overseas investment and international trade expansion. Furthermore, OBUs are exempt from domestic banking laws, central bank regulations, and the Interest Rate Management Ordinance.