|Business Type Items||Company||Business Enterprise|
|Minimum capital requirement||No minimum requirement, but the capital still needs to be examined and certified by a local CPA and covers at least the incorporation cost (Note 1)||Not required.|
|Extent of shareholders/responsible person/partners' liability||Shareholders are liable to the extent of their capital contribution to the company.||The responsible person or partners of the business are liable for any liabilities arising from the business operation.|
|Business expansion||A registered company name is approved by the Ministry of Economic Affairs. This name is legally protected and its usage is nationwide. It is advantageous for business expansion.||A registered business name is approved by a local (county or city) government. The name protection and usage are limited.|
|Qualification of being a juristic person||A company is qualified as a juristic person.||Not qualified as a juristic person.|
|Requirement for accounting books and vouchers.||Must keep complete set of accounting books and accounting records to document its operating results.||Not compulsorily required. The profit and loss is reflected directly in income individually reported by the responsible person or partners.|
Note 1: If the business entity engages in activities that require a special permit or approval, the authorities may set a higher capital requirement.