Newsletter
RECOGNITION AND NAME CHANGE CAN BE EFFECTED DIRECTLY AFTER GENERAL ASSUMPTION BETWEEN FOR-EIGN COMPANIES
In an interpretation dated 28 May 2004, the Ministry of Economic Affairs stated that when a foreign company that is recognized in the ROC intends to transfer the assets, liabilities, and business operations of its Taiwan branch to an-other foreign company under a general assump-tion, to facilitate the continued operation of the Taiwan branch, the companies involved may directly register the change of recognition and change of name of the Taiwan branch. By re-moving the need to carry out liquidation proce-dures and to establish a new branch company, this change greatly simplifies registration and related procedures. This should facilitate merg-ers, acquisitions, and corporate restructuring.