Taiwan

The Republic of China (known as Taiwan) is an island located in Southeast Asia bordering the East China Sea, Philippine Sea, Taiwan Strait, and the South China Sea just east of China and north of the Philippines. It is about the size of Maryland and Delaware combined and covers an area of 35,980 sq. kilometers. Taiwan?s total population is 22.97 million and is growing at a rate of 0.227%. Taiwan’s government is a Multi-party democracy and claims itself as an independent state from China with its own constitution, president, and military. The People’s Republic of China claims the Taiwanese government is illegitimate and does not recognize it as an independent state. The official language used is Chinese and the local currency used is the Taiwan Dollar. Taiwan has a capitalist economy heavily dependent on foreign trade. The economy has been increasingly privatized with decreasing government guidance on foreign investment and trade. Its main trade partners are China, the US, Japan, Hong Kong, Singapore, Saudi Arabia, and South Korea. Its primary imports are electronics, machinery, petroleum, precision instruments, organic chemicals, and metals. Exports consist of electronics, flat panels, machinery, metals, textiles, plastics, chemicals, and auto parts. Taiwan’s GDP (Purchasing Power Parity) is $738.8 billion and is growing at a real rate of 1.9% with an inflation rate of 3.7%. Taiwan ranked 61st out of 181 countries in the World Bank Group’s Ease of Doing Business Ranking.

Demographic Data

Economic Data

Cultural & Other Data

GDP (PPP, $bn)

738.8

Capital

Taipei

Area (sq. km.)

35,980

GDP Real

Growth (%)

1.9

Other Large Cities

Kaohsiung, Taichung

Population (million)

22.97

PerCap GDP ($)

31,900

Primary Language

Chinese

Population

Growth %

0.227

Prime Lending

Rate (%)

4.06

Urban

Population %

NA

% Population

Under 15yrs

16.7

Inflation Rate%

3.7

Urban Growth %

NA

Population below

poverty line (%)

0.95

Unemployment%

4.1

Literacy

(% of population)

96.1

Agricultural Workers

(% of population)

5

Foreign Direct

Investment($bn)

102.3

Education spending

as % of GDP

NA

Industrial Workers

(% of population)

37

Debt-External

($bn)

109.6

CPI Score (1-10)*

5.7

Service Workers

(% of population)

58

Exports ($bn)

255.7

Corporate Income Tax %

20

Labor Force (mil)

10.85

Imports ($bn)

236

Ease of Doing

Business Ranking **

61

CURRENCY EXCHANGE RATE

06/22/09 $1 = 32.9 TWD

Franchising Laws Overview

Disclosure laws:

  • Franchisor must disclose certain information to the prospective franchisee ten days prior to the signing of the franchise agreement.
  • Franchisor must provide prospective franchisee with an Operations Manual and franchise agreement, and no agreement can be signed until after five days have passed.

Relationship laws:

  • None.

Registration laws:

  • Franchise agreement must be registered with the investment office.
  • License Agreement for a trademark or service mark must be registered with the Republic of China Trademark Office.
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