Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the FSC business licence, including banking and payment rails.
Get a payment license in Taiwan.
Taiwan licenses electronic payment under one act - the Act Governing Electronic Payment Institutions, promulgated in February 2015 and last amended on 19 January 2023. Paid-in capital is NT$500 million for the full set of three business items, NT$300 million without remittance and NT$100 million for an institution that neither accepts stored value nor remits. The applicant has to be a joint-stock company doing this and nothing else, hold user funds in a dedicated same-currency deposit account, and place the whole stored-value balance in trust or behind a bank performance guarantee. Nine dedicated and twenty concurrent institutions served about 32.6 million account users in May 2025.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Taiwan in brief
Three business items, three capital figures, and a permit that becomes a licence in six months.
The Act Governing Electronic Payment Institutions, 電子支付機構管理條例, was promulgated on 4 February 2015 and last amended on 19 January 2023. Article 4(1) sets out three business items: collecting and paying for actual transactions as agent, accepting stored-value funds, and domestic and cross-border small-value remittance. Article 9 prices them. An institution doing all three needs paid-in capital of NT$500 million. Drop remittance and the figure is NT$300 million. Drop both stored value and remittance, leaving agency collection alone, and it falls to NT$100 million. Article 7 fixes the vehicle: a joint-stock company, specialised in the Article 4 businesses unless the commission has permitted it to run them alongside another regulated business, which in practice means the banks and Chunghwa Post. Article 10 puts the permitted items on the face of the licence and forbids anything outside them. Article 5 routes any Mainland-China applicant, or cooperation with a Mainland payment institution, through Articles 72 and 73 of the act governing relations across the strait.
Client money is handled twice over. Article 17 requires a dedicated deposit account in the same currency at a financial institution, with the amount and the movement of each payment recorded. Article 21 goes further for stored value: the balance net of required reserves, together with the collected-and-paid amounts, has to be placed entirely in trust or covered by a full bank performance guarantee. Balances are capped by account class under the identity-verification and transaction-limit regulations of 30 June 2021 - NT$100,000 for a class 1 account, NT$50,000 for class 2, NT$10,000 for class 3 and NT$10,000 on a stored-value card, with a class 2 account also limited to NT$300,000 of receipts and NT$300,000 of payments a month. Authorisation runs in two steps: Article 11 for the permit, then Article 13, which gives the institution six months from the permit to file for its business licence and one extension of up to three months. The act sets no decision period for the permit itself. Nine dedicated and twenty concurrent institutions were in the market in May 2025, serving about 32.6 million account users. Profit-seeking enterprise income tax is 20%, and non-resident dividends carry 21%.
Act Governing Electronic Payment Institutions, promulgated 4 February 2015, last amended 19 January 2023. Article 4 lists three business items: agency collection, stored value, small-value remittance. Article 9 prices them at NT$500 million for all three, NT$300 million without remittance, NT$100 million without stored value or remittance.
Article 7 requires a specialised joint-stock company. Article 17 a dedicated same-currency account; Article 21 full trust or a bank performance guarantee over stored value. Caps NT$100,000 / NT$50,000 / NT$10,000 by class. Six months from permit to licence. Nine dedicated and twenty concurrent institutions, 32.6 million users.
The routes
The full institution, the reduced scope - or concurrent operation by a bank.
One act and one licence, but the capital and the file change with the business items you ask for. We settle the item list first, because Article 10 will print it on the licence and nothing outside it may be sold.
One licence, with the capital set by the business items you ask for.
01 - DEDICATED INSTITUTION
專營電子支付機構 - all three business items
A specialised joint-stock company licensed for agency collection, stored value and small-value remittance, on paid-in capital of NT$500 million under Article 9. Client funds sit in the Article 17 dedicated account, and the stored-value balance goes into full trust or behind a bank performance guarantee under Article 21.
A specialised joint-stock company licensed for agency collection, stored value and small-value remittance, on paid-in capital of NT$500 million under Article 9. Client funds sit in the Article 17 dedicated account, and the stored-value balance goes into full trust or behind a bank performance guarantee under Article 21.
- ✓Paid-in capital NT$500,000,000 (Article 9)
- ✓Agency collection · stored value · small-value remittance
- ✓Joint-stock company, specialised (Article 7)
- ✓Dedicated same-currency deposit account (Article 17)
- ✓Full trust or bank performance guarantee (Article 21)
- ✓Business items printed on the licence (Article 10)
02 - REDUCED SCOPE
NT$300M or NT$100MNarrower item lists, and the concurrent route
Article 9 cuts the capital when the item list is shorter: NT$300 million for an institution that does not do remittance, and NT$100 million for one that does neither stored value nor remittance. Banks and Chunghwa Post run the same business concurrently under Articles 11 and 42 rather than as a dedicated institution.
Reduced scope: NT$300 million without remittance, NT$100 million without stored value or remittance; banks and Chunghwa Post run it concurrently.
- ✓NT$300,000,000 without small-value remittance
- ✓NT$100,000,000 without stored value or remittance
- ✓Agency collection alone at the lowest tier
- ✓Concurrent operation by banks and Chunghwa Post
- ✓Six months from permit to licence, extendable once by three
- ✓Stored-value caps: NT$100,000 / NT$50,000 / NT$10,000 by class
Costs and timelines are confirmed for your case before any work begins. The act publishes no application fee and no decision period for the permit, so state charges, the trust or guarantee arrangement and substance are itemised in your quote.
Why Taiwan
A licence that names its own scope, over a market of 32.6 million account users.
Taiwan wrote its payment law once and has amended it sparingly. The capital scales with what you actually do, the client-money rules are absolute, and the register is short enough to read in a sitting.
✓
Capital that follows the scope
NT$500 million for all three business items, NT$300 million without remittance, NT$100 million for agency collection alone - the item list decides the cheque.NT$500M, 300M or 100M.
✓
The licence prints what you may do
Article 10 enters the permitted business items on the licence and forbids everything else, so scope disputes happen at the application rather than after launch.Article 10 prints the items.
✓
Client money held twice over
A dedicated same-currency deposit account under Article 17, and full trust or a bank performance guarantee over the stored-value balance under Article 21.Dedicated account plus trust.
✓
Caps you can design around
NT$100,000, NT$50,000 and NT$10,000 of stored value by account class, NT$10,000 on a card, and NT$300,000 a month each way for a class 2 account.NT$100,000 down to NT$10,000.
✓
A market of 29 institutions
Nine dedicated and twenty concurrent electronic payment institutions in May 2025, between them serving about 32.6 million account users.32.6 million account users.
✓
A known conversion window
Article 13 gives six months from the permit to apply for the business licence, extendable once by up to three, so the build plan runs off that date.Six months permit to licence.
How it compares
How Taiwan differs from the other Asian routes.
Taiwan asks for the largest capital of the group and the strictest client-money treatment, and gives no decision period for the permit in return. The honest comparison is below.
Taiwan vs other jurisdictions
| Feature |  Taiwan | Other jurisdictions |
|---|---|---|
| Capital | NT$500M · NT$300M · NT$100M by item list | HK$25M in Hong Kong, none printed in Japan |
| Company form | Specialised joint-stock company (Article 7) | Joint-stock company in Korea, corporation in Japan |
| Stored value | Full trust or bank guarantee (Article 21) | Half the unused balance in Japan, 100% float in Korea |
| Decision clock | None for the permit · 6 months to the licence | 3 months in Korea, 60 business days in Thailand |
Capital
TaiwanNT$500M · NT$300M · NT$100M by item list
Other jurisdictionsHK$25M in Hong Kong, none printed in Japan
Company form
TaiwanSpecialised joint-stock company (Article 7)
Other jurisdictionsJoint-stock company in Korea, corporation in Japan
Stored value
TaiwanFull trust or bank guarantee (Article 21)
Other jurisdictionsHalf the unused balance in Japan, 100% float in Korea
Decision clock
TaiwanNone for the permit · 6 months to the licence
Other jurisdictions3 months in Korea, 60 business days in Thailand
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Taiwan | E-payment institution (FSC) | 20% · dividends 21% | NT$500M · full trust or bank guarantee |
 Hong Kong | SVF (HKMA) | 8.25% / 16.5% | HK$25M, principal business |
 Japan | Funds transfer · prepaid (FSA) | 23.20% · 15% small | No capital figure · guarantee JPY 10M floor |
 Singapore | SPI / MPI (MAS) | 17% · reliefs | Staircase, benchmark stamp |
TaiwanLicense typeE-payment institution (FSC)
Taxation20% · dividends 21%
RequirementsNT$500M · full trust or bank guarantee
Hong KongLicense typeSVF (HKMA)
Taxation8.25% / 16.5%
RequirementsHK$25M, principal business
JapanLicense typeFunds transfer · prepaid (FSA)
Taxation23.20% · 15% small
RequirementsNo capital figure · guarantee JPY 10M floor
SingaporeLicense typeSPI / MPI (MAS)
Taxation17% · reliefs
RequirementsStaircase, benchmark stamp
Before you apply
Requirements for the FSC licence.Requirements for the licence.
The act sets the vehicle, the capital and the client-money duties; the identity-verification and transaction-limit regulations set the caps the product has to live inside. The checklist below is what a passing file contains.
01
A joint-stock company under Article 7, specialised in the Article 4 businesses unless the commission has permitted concurrent operation alongside another regulated business.
02
Paid-in capital under Article 9: NT$500 million for all three business items, NT$300 million without small-value remittance, NT$100 million without stored value or remittance.
03
A permit application under Article 11, filed by the promoters or the responsible persons with the documents the article lists.
04
A business licence application under Article 13 within six months of the permit, with one extension of up to three months on a justified request.
05
The business items you intend to run stated for entry on the licence, since Article 10 forbids anything the commission has not permitted.
06
A dedicated deposit account in the same currency at a financial institution for user payment funds, with the amounts and transfers recorded (Article 17).
07
Full trust of the stored-value balance net of required reserves, together with the collected-and-paid amounts, or a bank performance guarantee covering the same (Article 21).
08
Account classes and their limits built into the product: NT$100,000, NT$50,000 and NT$10,000 of stored value by class, and NT$10,000 on a stored-value card.
09
A class 2 account limited to NT$300,000 of receipts and NT$300,000 of payments a month under the identity-verification and transaction-limit regulations of 30 June 2021.
10
Where a Mainland-China institution is the applicant or the payment partner, clearance under Articles 72 and 73 of the act governing relations across the strait (Article 5).
01
Specialised joint-stock company (Art. 7).
02
Capital NT$500M / 300M / 100M (Art. 9).
03
Permit application under Article 11.
04
Licence application within six months (Art. 13).
05
Business items stated for the licence (Art. 10).
06
Dedicated same-currency account (Art. 17).
07
Full trust or bank guarantee (Art. 21).
08
Class caps built into the product.
09
Class 2: NT$300,000 a month each way.
10
Mainland-China clearance where it applies.
Reflects the Act Governing Electronic Payment Institutions (promulgated 4 February 2015, last amended 19 January 2023), the electronic payment institution business management rules and the identity-verification and transaction-limit regulations of 30 June 2021, as of 2026.Act Governing Electronic Payment Institutions (2015, amended 19 January 2023); identity and transaction-limit rules of 30 June 2021.
How it works
From first call to the business licence.
01
Item list and capital
Which of the three Article 4 items you will run, and therefore NT$500 million, NT$300 million or NT$100 million - fixed in writing.Which items, therefore which figure.
02
Company and capital
Taiwanese joint-stock company formed, specialised under Article 7, paid-in capital at the Article 9 figure and evidenced.Formed, specialised, paid in.
03
The permit application
Article 11 documents filed by the promoters or responsible persons, with the client-money and stored-value arrangements described.Article 11 documents filed.
04
Commission review
Question rounds answered - the act prints no decision period for the permit, so plan on nine to twelve months end to end.No clock; 9-12 months estimated.
05
Licence and launch
The Article 13 licence application filed inside six months, trust or guarantee in place, business items entered on the licence.Article 13 filing inside six months.
Quick facts
RegulatorFinancial Supervisory Commission
LawAct Governing Electronic Payment Institutions
RoutePermit, then business licence
CapitalNT$500M / NT$300M / NT$100M
Stored valueFull trust or bank guarantee
Permit to licence6 months, extendable by 3
Timeline9-12 months estimated
Corporate tax20% · dividends 21%
There is no published decision period for the permit, so the nine to twelve months is our estimate. The date that is fixed is Article 13's six months from permit to licence application.
Your Taiwan desk
Run from our Asia-Pacific desk.
Prifinance - Asia-Pacific desk
Dubai · coordinating Taiwanese mandates
33 Level, Al Saqr Business Tower, Dubai
01
Taiwanese company formation
A joint-stock company specialised in the Article 4 businesses, with paid-in capital at the Article 9 figure for the items you intend to run.Joint-stock, specialised, capital paid.
02
The FSC file
The Article 11 permit application, then the Article 13 licence application inside the six-month window, with the business items drafted for the face of the licence.Article 11 permit, Article 13 licence.
03
Client money
The Article 17 dedicated same-currency account, and the Article 21 trust or bank performance guarantee over the stored-value balance.Dedicated account; trust or guarantee.
04
Substance in Taiwan
Directors, a compliance function and premises in Taipei - the presence the Banking Bureau's register entry is built on.Directors, compliance, Taipei premises.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Madeira
Portugal
Rua da Alegria 31, 1F
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Taiwan.
Profit-seeking enterprise income tax at 20%, a business tax band of 5% to 10% with the collection rate set by the Executive Yuan, and 21% withholding on dividends to non-residents.
Profit-seeking enterprise tax 20%
Charged on the whole taxable income once it passes NT$120,000. Between NT$120,001 and NT$200,000 the tax is capped at half the amount above NT$120,000, under Articles 5(5) and 71(2) of the Income Tax Act.Above NT$120,000 of income.
Business tax 5% to 10%
Article 10 of the business tax act sets a floor of 5% and a ceiling of 10%, with the collection rate fixed by the Executive Yuan. The rate applied to your invoices is confirmed before pricing.Statutory band 5-10%.
Financial sector rates
Article 11 charges 5% on the core business of banks and insurers, and 2% on their other sales and on those of trust-investment, securities, futures, bills-finance and pawn businesses.5% core, 2% other sales.
Dividends 21%
Withholding on dividends paid to non-residents, on the finance ministry's own table, before any treaty relief.To non-residents, before treaties.
Royalties and interest
20% on royalties. Interest on bonds, short-term bills, securitised products and repo transactions is withheld at 15%, other interest at 20%.Interest 15% or 20%.
Payroll
Salaries, labour insurance and health insurance in Taipei - the operating budget prices them in with the compliance hires.Salaries plus insurance.
Tax summary
Corporate tax20% profit-seeking enterprise
Business taxStatutory band 5-10%
Financial sector5% core business · 2% other sales
Dividend withholding21%
Royalties / interest20% · 15% or 20%
PayrollSalaries + labour and health insurance
*Figures as of 2026 per the Ministry of Finance and the national tax portal. The general collection rate applied by the Executive Yuan is confirmed for your case.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Taiwanese joint-stock company, AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
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Taiwan · FSC
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The Taiwanese payment licence, answered.
What licence does a payment business need in Taiwan?+
A licence from the Financial Supervisory Commission as an electronic payment institution under the Act Governing Electronic Payment Institutions. The permitted business items are entered on the licence itself, and Article 10 forbids anything the commission has not permitted.
What are the three business items?+
Article 4(1) lists collecting and paying for actual transactions as agent, accepting stored-value funds, and domestic and cross-border small-value remittance. Which of them you apply for decides the capital figure.
How much capital is required?+
Article 9: NT$500 million for all three items, NT$300 million for an institution that does not do small-value remittance, and NT$100 million for one that neither accepts stored value nor remits.
What company form is required?+
A joint-stock company under Article 7, specialised in the Article 4 businesses. Banks and Chunghwa Post run the same business concurrently under Articles 11 and 42, which is why the market has twenty concurrent institutions alongside nine dedicated ones.
How is client money protected?+
Twice. Article 17 requires user payment funds to sit in a dedicated deposit account in the same currency at a financial institution, with the amounts and transfers recorded. Article 21 then requires the stored-value balance net of required reserves, plus the collected-and-paid amounts, to be placed in full trust or covered by a full bank performance guarantee.
Are there limits on stored value?+
Yes, by account class under the regulations last amended on 30 June 2021: NT$100,000 for class 1, NT$50,000 for class 2, NT$10,000 for class 3 and NT$10,000 on a stored-value card. A class 2 account is also limited to NT$300,000 of receipts and NT$300,000 of payments a month.
How long does the commission take?+
The act prints no decision period for the permit, and no processing statistics are published. What it does print is Article 13: six months from the permit to file for the business licence, extendable once by up to three months. Plan on nine to twelve months end to end.
Can a Mainland-China group apply?+
Article 5 sends any application by a Mainland-China institution, and any cooperation with a Mainland payment institution, through Articles 72 and 73 of the act governing relations across the strait. That is a separate clearance and it is planned for at the start.
How are payment companies taxed?+
Profit-seeking enterprise income tax at 20% on taxable income above NT$120,000. Business tax sits in a statutory band of 5% to 10% with the collection rate set by the Executive Yuan, and financial businesses have their own 5% and 2% rates. Dividends to non-residents carry 21%.
Why Taiwan rather than Hong Kong or Japan?+
Taiwan gives a specialised licence with its scope printed on it and a market of 32.6 million account users, at the highest capital of the three. Hong Kong asks HK$25 million but decides the file on the principal-business test. Japan asks no capital figure for transfers and gives no clock at all.
Which licence?+
FSC electronic payment institution licence.
The three items?+
Agency collection, stored value, remittance.
Capital?+
NT$500M, NT$300M or NT$100M.
Company form?+
Specialised joint-stock company.
Client money?+
Dedicated account; full trust or guarantee.
Stored-value caps?+
NT$100,000 / 50,000 / 10,000 by class.
How long?+
No permit clock; 9-12 months estimated.
Mainland applicants?+
Cleared under Articles 72 and 73.
Taxes?+
20%; dividends 21%; business tax 5-10%.
vs Hong Kong / Japan?+
Scope printed; highest capital.
Client notes
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