Taiwan’s economy is performing well. The growth rate of the gross domestic product last year was 3.11% and is expected to reach 4.64% in 2021. As Taiwan attracts more global business interest, it is vital that foreign companies in Taiwan work with a trusted partner.
“Foreign and domestic investors are driving Taiwan’s economic growth,” said Tsar & Tsai Law Firm’s managing partner, Jennifer Lin.
“Despite the pandemic, Taiwan is posting its best economic figures in 30 years. The Taiwan Stock Exchange is continuing to perform well and the Taiwan government’s deregulation policies have created an attractive environment for foreign companies and investors. For example, since Oct. 15, 2020, overseas companies have been able to provide foreign currencies as collateral when dealing in securities.”
Recognized as one of Taiwan’s most prestigious law firms, Tsar & Tsai has acted as a full-service law firm since 1965 and the firm’s team of expert lawyers has a special interest in Japan.
“Japanese companies need Taiwanese lawyers who are not only fluent in Japanese and can understand Japan’s corporate culture, but also provide legal services in English, especially for large-scale projects across multiple jurisdictions,” Lin said. “Tsar & Tsai is able to successfully assist Japanese clients as many of our lawyers are fluent in both Japanese and English.”
Relationships between Japanese companies and their Taiwan business partners can sometimes present challenges. Many Japan-Taiwan joint ventures bring together Japanese listed companies and small to midsize Taiwanese firms.
“Even as a majority shareholder in a joint venture, Japanese companies can face regulatory challenges in Taiwan,” Lin said.
“Stringent compliance regulations are often imposed on Taiwan-listed companies and Taiwanese businesses are often unaware of the legalities applicable to their joint ventures. Taiwanese companies are more familiar with the local market and often manage joint ventures, so in order to minimize risk, Japanese companies need expert legal advice.”
While many Taiwanese law firms are able to provide corporate and litigation services in Japanese, Tsar & Tsai has a wealth of experience in providing Japanese-language legal services across corporate, foreign investment, competition law, biotechnology, cryptocurrency and dispute resolution practice areas.
“As a leading Taiwan-based law firm and a specialist in Taiwan law, we are proud of our ability to provide legal services in multiple languages,” Lin said. “Moving forward, we look forward to working closely with our Japanese friends here in Taiwan.”