Taiwan banks are known to be both fiscally sound and well infused with cash deposits. Taiwanese banks are among the most rock solid in Asia. After the infamous Asian stock collapse, the government put many regulations in place to guarantee deposits made at every bank in Taiwan. A Taiwan business bank can offer many specialized services for foreign owned enterprises. Contact a Taiwan commercial bank and set up a face-to-face meeting, as building personal relationships is critical to doing business in Asia.
Any banks in Taiwan industry overview should include the relationship between international banks in Taiwan and the Taiwan central bank. Every Taiwan bank must meet stringent standard,s which makes banking in Taiwan so appealing to foreign investors. Taiwan banking is completely modernized and utilize the most advanced telecommunications technology to keep Taiwan international banks in business twenty-four hours a day. Although, foreign banks are hesitant to invest until the current government proves it is friendly to international banks.
1. Work with staff of banks in Taiwan to establish secure financial management for your company.
2. Guarantee your banking transactions by working with Taiwanese banks that have international partners.
3. Focus on major Taiwanese banks for your initial deposits.
Action Steps
The best contacts and resources to help you get it done
Connect directly with staff of banks in Taiwan
Set up a direct meeting early in your business relationship with Taiwanese banks. The personal touch has added layers of meaning when doing business in Asia, and Taiwanese banks are famous for being able to broker a fiscal position that connects banks in Japan, Hong Kong and recently the People's Republic of China. Taiwanese bankers enjoy an outstanding reputation for their effectiveness in conducting business.
I recommend: The personnel at the
Bank of Taiwan have an outstanding reputation amongst Taiwanese banks for forthright business practices. The
Land Bank of Taiwan is well respected in Asia. The recent broadening of relationships with mainland banks stands to benefit both parties considerably.
Start banking with an international bank that has Taiwan banks
There are many large international banks that have longstanding relationships with with Taiwanese banks. American banks, for instance, have a a fiscal relationship going back to pre-World War II. American banks financed a great deal of the government of Taiwan's modernization and continue to be major investors in Taiwanese businesses. Hundreds of billions of dollars are invested in Taiwan and huge American banks control a large percentage of those funds.
I recommend: Citibank Taiwan operates a large number of banks in Taiwan. Many of the bank's officers are Taiwanese and have a multi-generational involvement.
Deutsche Bank manages a complex banking enterprise in Taiwan. It has developed a strong investing presence and manages large deposits.
Set up an account with one of the major Taiwan banks
There are several large international financial institutions at the top tier of Taiwanese banks. The upper echelon of Taiwan's banking infrastructure includes some of the largest in East Asia. The sheer volume of financial transactions from banking in Japan and Hong Kong cast a long shadow on Asian banking, but banks in Taiwan always withstand financial crises.
I recommend: The Cathay United Bank is one of the largest major banks in Taiwan, and it is a wholly owned subsidiary of
Cathay Financial Holding Company.
Mega International Commercial Bank has a solid banking reputation in the high flying 21st Century. There are several more large banks, but be sure deposits are guaranteed.
Tips & Tactics
Helpful advice for making the most of this Guide
- Fully understand the regulations regarding Taiwanese banks, especially in light of the ever-growing presence of banks based in mainland China. Taiwan bank regulators are still not entirely transparent when dealing with foreign banks.
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