Do individual proprietorships in Taiwan, Hong Kong and Macao need foreign exchange registration certificates?
Foreign exchange registration certificate is required for sole proprietorship of legal persons in Taiwan, Hong Kong and Macao. Foreign investors shall register the basic information of foreign-invested enterprises in the bank with a written application and the Application Form for Registration of Basic Information of Domestic Direct Investment. The changed business license (copy stamped with the official seal of the unit). When a foreign investor invests in a domestic foreign-invested enterprise with its lawful domestic income, it shall also submit a tax certificate issued by the competent tax authority (such as a tax filing form for foreign payment of service trade and other projects, except that the enterprise does not need to submit it according to regulations). Enterprises with paid-in registered capital also need to provide approval documents or other supporting materials from relevant industry authorities. Relevant documents can be found in official website, Beijing Foreign Exchange Management Department of the State Administration of Foreign Exchange, and in the column of policies and regulations.