USD business account in Taiwan
A Taiwanese company can hold US dollars in a foreign currency deposit account at a bank in Taiwan, in a USD account with a foreign provider that accepts Taiwanese companies, or through a US company with its own account. Taiwan does not stop companies from holding dollars, but receipts and payments of NT$500,000 or more must be declared, and settling more than US$50 million a year needs central bank approval. This guide compares the options, the rules, documents and the new law on stablecoins.
- A Taiwanese company can hold US dollars in a foreign currency deposit account at a bank in Taiwan, in its own name, without converting them to New Taiwan dollars.
- Foreign exchange receipts, payments or transactions with a value of NT$500,000 or more must be declared through the bank that handles them.
- A company that settles more than US$50 million of foreign exchange against New Taiwan dollars in a year must obtain approval from the Central Bank of the Republic of China (Taiwan) through its bank.
- Wise lists Taiwan among the countries where customers can hold money, and Airwallex lists Taiwan as a supported registration location through its Hong Kong entity.
- Taiwan's Legislative Yuan passed the Virtual Asset Service Act at the end of June 2026, requiring FSC approval for providers and approval from both the central bank and the FSC for stablecoin issuers.
- A USD account abroad in the company's own name lets US customers pay by ACH, and funds later settled into New Taiwan dollars are declared through a bank in Taiwan.
USD business account options in Taiwan: the short answer
A Taiwanese company can hold and receive US dollars in three main ways: a foreign currency deposit account at a bank in Taiwan, a USD account with a provider outside Taiwan that accepts Taiwanese companies, or a US company with its own US account. A foreign currency deposit account is an account in US dollars or another foreign currency, held at a Taiwanese bank in the company's own name. It is the account most Taiwanese exporters already use, and it is where the central bank's reporting rules are applied in practice.
Taiwan does not stop a company from earning or holding dollars. Its rules focus on settlement, which means buying or selling foreign currency against New Taiwan dollars (NTD), and on reporting. Any foreign exchange receipt, payment or transaction of NT$500,000 or more must be declared, and a company that settles more than US$50 million a year needs approval from the Central Bank of the Republic of China (Taiwan), known as the CBC.
Each route serves a different need. Manufacturers and exporters want dollars from buyers to arrive quickly and in full. Importers want dollars ready to pay suppliers in Japan, the United States or elsewhere without converting twice. Software firms, design studios and other service businesses want US clients to pay them as easily as they pay a US vendor. This guide covers the CBC rules, which foreign providers accept Taiwan, the US company route, documents, Taiwan's new Virtual Asset Service Act for stablecoins, and where a Helm USD account in the company's own name fits.
The options compared
The table compares the option types. It is not a ranking: many Taiwanese trading companies keep a local foreign currency account and add one other route.
| Option | Account name and location | How US payers pay it | Main rules and limits |
|---|---|---|---|
| Foreign currency deposit account | Company's own name, bank in Taiwan | International wire (SWIFT) through the bank's US correspondent | Declaration for transactions of NT$500,000 or more; CBC approval above US$50 million settled a year |
| USD account with a foreign provider | Company's own name or a pooled account, held abroad | ACH, Fedwire or SWIFT, depending on the provider | Provider's country list decides eligibility; Taiwan declaration rules still apply when funds are settled in Taiwan |
| US company with a US account | A new US company's name, US bank or fintech | ACH and Fedwire as a US business | Separate company, US tax number and filings |
| Stablecoin wallet | Wallet address, not a bank account | USDC or USDT on a blockchain | Virtual Asset Service Act passed in 2026; not a deposit |
Sources: Invest Taiwan, Bravo Taiwan 2024; Kaizen CPA summary of the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions; The Block. As published on 29 October 2026.
How to choose: start from where the dollars come from and where they go. An exporter that sells to buyers worldwide by SWIFT wire is already served by its local foreign currency account. A company that sells to US customers who pay by ACH, the low-cost US domestic bank transfer system, gains from US account details, because the customer then pays as it pays any US supplier. A company that pays suppliers in several currencies gains from an account that converts between balances at a shown rate. A company that plans its own US sales team or US contracts may justify a US company.
ACH stands for Automated Clearing House. Fedwire is the Federal Reserve's same-day system for large US dollar payments. SWIFT is the international network banks use to send cross-border payments, and each bank on it is identified by an 8 or 11 character code. Our guide to SWIFT, ACH and Fedwire compares the three in detail.
Central bank rules on foreign exchange in Taiwan
Taiwan's foreign exchange rules are administered by the CBC and applied by banks that are authorized to handle foreign exchange. The detailed reporting rules sit in the Regulations Governing the Declaration of Foreign Exchange Receipts and Disbursements or Transactions. A declaration is a form, usually completed online or at the bank, that states the purpose of each foreign exchange receipt or payment.
Invest Taiwan, the government's investment promotion office, states that foreign exchange receipts, payments or transactions with a value equal to or exceeding NT$500,000 must be reported. It also states that a company, limited partnership or firm with an aggregate settlement amount of more than US$50 million a year must apply, through the processing bank, to the CBC for settlement approval. The limit for individuals and organizations is US$5 million a year.
| Activity | Rule as published | Who acts |
|---|---|---|
| Receiving or paying foreign currency of NT$500,000 or more | Must be declared | The company, through its bank |
| A single remittance by a company above US$1 million | Supporting documents required, such as the contract or approval letter | The company provides; the bank checks |
| Settlement by a company above US$50 million in a year | Approval from the CBC, applied for through the bank | The bank submits to the CBC |
| Settlement by an individual or organization above US$5 million in a year | Approval from the CBC | The bank submits to the CBC |
| Holding dollars without converting | No settlement takes place, so the settlement limits do not apply to the balance itself | The company decides when to convert |
| Carrying foreign currency cash across the border above US$10,000 | Must be declared to customs | The traveler |
Sources: Invest Taiwan, Bravo Taiwan 2024 (page 55); Kaizen CPA, Taiwan foreign exchange control FAQ, citing Articles 2, 5 and 6 of the declaration regulations. As published on 29 October 2026. Confirm current rules with your bank.
For most small and mid-sized trading companies, the practical effect is paperwork rather than restriction. A company that receives a US$40,000 payment from a buyer declares it with the bank, usually by stating the purpose as payment for exported goods or services. A company that receives more than US$1 million in a single remittance should have the sales contract ready. Only large groups approach the US$50 million annual settlement figure, and the figure counts amounts converted between NTD and foreign currency, not dollars kept as dollars.
Keep the paperwork that supports each declaration: the sales contract or purchase order, the invoice and the shipping documents. Banks ask for them when a payment is large or unusual, and the same file answers questions from a foreign provider.
Foreign USD account providers and Taiwan
Taiwanese companies are accepted by several well-known online providers, but each provider sets its own country list and the lists change. The table records what each provider states on its own pages.
| Provider | What its own pages state for Taiwan |
|---|---|
| Wise | Taiwan is on the list of countries where customers can hold money, with no extra restriction noted; Taiwan is not on Wise's list of addresses that cannot get USD account details |
| Airwallex | Taiwan is on its list of supported registration locations, onboarded through its Hong Kong entity |
| Mercury | Accepts only companies formed and registered in the United States or a US territory |
Sources: the providers' own pages, linked below. As published on 29 October 2026.
Before you apply, check three points. First, whether the US details are in your company's own name or belong to a pooled account in the provider's name. Second, which rails the details accept: ACH only, or also Fedwire and SWIFT. Third, how dollars return to Taiwan when you need them there, and how the receipt will be declared when it is settled into NTD.
Airwallex states that being on its list is necessary but does not guarantee approval, and that it may add, remove or change the regions it supports. Wise publishes separate lists for holding money and for USD account details, so check both on the day you apply. Provider pages used: Wise on where you can hold money, Airwallex eligible countries and Mercury eligibility.
The US company route
Some Taiwanese founders form a US company, usually a limited liability company (LLC) or a Delaware corporation, and open a US account in its name. Mercury, for example, requires the company to be formed and registered in the United States or a US territory and to have existing or planned US operations, and states that founders do not need to be US citizens or residents.
The US company needs an Employer Identification Number (EIN), the US federal tax number for a business. The IRS instructions for Form SS-4 state that applicants with no principal place of business in the US may call 267-941-1099, from 6:00 a.m. to 11:00 p.m. Eastern Time, Monday to Friday, and that only international applicants can receive an EIN by telephone. Applicants outside the US can also fax Form SS-4 to 304-707-9471.
The trade-off is structure. The US company is a separate legal entity with its own tax filings, and money it earns belongs to it, not to the Taiwanese company. Transfers between the two need contracts and transfer pricing that both tax authorities accept. Take Taiwanese and US tax advice before choosing this route. For a company that only wants US customers to pay it by ACH, a USD account in the Taiwanese company's own name avoids the second entity. Our guide to a US bank account for a foreign company explains the difference.
Documents you need
Banks and providers ask for broadly the same company file. The list below is a typical checklist; each bank sets its own.
| Document | Foreign currency account at a bank in Taiwan | USD account with a foreign provider |
|---|---|---|
| Company registration record from the Ministry of Economic Affairs | Yes | Yes, with an English translation if asked |
| Unified Business Number (UBN) | Yes | Usually |
| Articles of incorporation | Yes | Usually |
| Board resolution or authorization naming signatories | Yes | Usually |
| Identity documents of the responsible person and signatories | Yes, national ID or Alien Resident Certificate | Yes, passport or national ID |
| Details of owners of 25% or more | Yes | Yes, under US and provider rules |
| Proof of business address | Yes | Yes |
| Description of trade, counterparties and expected volumes | Sometimes | Yes |
| Contracts or invoices for large payments | For remittances above US$1 million | Often, for the first large payments |
Typical requirements compiled by the Helm Editorial Team; requirements vary by bank and provider. As published on 29 October 2026.
The Unified Business Number is the eight-digit number that identifies every registered business in Taiwan. Keep the company's English name the same on every document, because a foreign provider will compare it with the name on incoming payments. A Chinese registered name with two different English renderings is a common cause of delay.
Stablecoins in Taiwan: USDC and USDT
Stablecoins are digital tokens designed to hold a steady value against a currency such as the US dollar. USDC and USDT are the two most widely used dollar stablecoins. Taiwan now has a dedicated law for the businesses that handle them.
- The Virtual Asset Service Act. The Financial Supervisory Commission (FSC), Taiwan's financial regulator, introduced the draft on 25 March 2025, as reported by the law firm Lee and Li. The Legislative Yuan passed it in its third reading at the end of June 2026, as reported by The Block on 1 July 2026.
- Licensing of providers. Under the Act, virtual asset service providers must obtain FSC approval before operating. Platforms that already completed anti-money laundering registration get 12 months to apply for a license and 21 months to obtain approval.
- Stablecoin issuers. Issuing or managing a stablecoin requires approval from both the CBC and the FSC, with full reserve backing. Lee and Li noted that the draft required reserve assets to be held at domestic financial institutions.
- Effective date. The Block reported that the cabinet would set the date the Act takes effect.
| Question | What the sources say |
|---|---|
| Are stablecoin businesses regulated? | Yes. Providers need FSC approval under the Virtual Asset Service Act, with transition periods for existing registered platforms |
| Who may issue a stablecoin in Taiwan? | Only issuers approved by both the CBC and the FSC, with full reserve backing |
| Are stablecoins legal tender? | No. The NTD remains the currency of Taiwan |
| Is a stablecoin balance a bank deposit? | No. It is a digital asset, not a deposit at a bank |
Sources: Lee and Li, newsletter of 30 April 2025; The Block, 1 July 2026. As published on 29 October 2026.
A Taiwanese company paid in USDC or USDT by a buyer abroad should treat the receipt like any other foreign currency receipt: document the underlying sale, use a provider that is registered or licensed where required, and declare the funds when they are settled into NTD through a bank.
Where a Helm USD account fits
Helm is a financial technology company, not a bank. Accounts are held with regulated partner institutions, and Helm's US dollar account services are provided by Bridge Building, Inc. (NMLS ID 2450917), a licensed money transmitter, with customer funds held at Lead Bank. Helm provides USD account details in your company's own name, with a US routing and account number that receives ACH, Fedwire and SWIFT payments, alongside EUR and GBP details.
For a Taiwanese company, it fits beside the local foreign currency account:
- Exporters and service businesses can give US customers domestic US payment details, so a customer pays by ACH as it would pay a US vendor.
- Importers can hold dollars and send international payments to suppliers by SWIFT or by local rails in the supplier's currency where available, with the rate, fee and expected arrival shown before sending.
- Companies paid in stablecoins can receive USDC and USDT and convert them to USD inside the account, keeping the same sale documents they would keep for a wire.
- Funds moved home to a bank in Taiwan are declared there in the usual way when they are settled into NTD.
Helm agrees pricing with each business in writing before the account opens, and shows the rate, the fee and the expected arrival before you confirm each payment. Each account has a named account manager, and review questions are answered in writing within one business day. Trade finance, such as supplier finance, receivables finance and working capital, is arranged case by case.
Freelancers and sole proprietors
Taiwanese freelancers and sole proprietors have the same options on a smaller scale. Individuals can open a foreign currency deposit account at a bank in Taiwan with their national ID. The declaration threshold of NT$500,000 applies to individuals as well, and the annual settlement figure that requires CBC approval is US$5 million for individuals.
Online providers are the other common route for freelancers paid by platforms and US clients. Wise lists Taiwan among the countries where customers can hold money. A freelancer who grows into a company should open an account in the company's name once it is registered, so client payments and personal funds stay separate and the company's declarations match its books.
Open a Helm account
USD, EUR and GBP accounts in your company's name, with a named account manager.
Open accountQuestions
Can a Taiwanese company open a USD account?
Yes. Banks in Taiwan offer foreign currency deposit accounts in US dollars to companies, in the company's own name. A company can also apply to a foreign provider that accepts Taiwanese businesses, or form a US company with its own US account.
Does Taiwan have foreign exchange controls in 2026?
Taiwan uses declarations and settlement limits rather than a ban. Foreign exchange receipts, payments or transactions of NT$500,000 or more must be declared, and a company that settles more than US$50 million a year needs CBC approval through its bank.
What is the US$50 million limit in Taiwan?
It is the annual settlement amount above which a company, limited partnership or firm must apply through its bank for CBC approval. Settlement means buying or selling foreign currency against New Taiwan dollars, so dollars kept as dollars do not count toward it.
Do I need to declare foreign currency payments in Taiwan?
Yes, for receipts, payments or transactions of NT$500,000 or more. A company remitting more than US$1 million in a single transaction must also provide supporting documents such as the contract.
Can a Taiwanese company open a Wise business account?
Wise lists Taiwan among the countries where customers can hold money, and Taiwan is not on its list of addresses that cannot get USD account details. Check both Wise pages on the day you apply, because providers update their lists.
Does Airwallex accept companies registered in Taiwan?
Airwallex lists Taiwan as a supported registration location, onboarded through its Hong Kong entity. It states that being on the list does not guarantee approval.
Is USDT legal in Taiwan?
Taiwan regulates the businesses that handle stablecoins. Its Virtual Asset Service Act, passed at the end of June 2026, requires service providers to obtain FSC approval and requires stablecoin issuers to be approved by both the CBC and the FSC.
Can a Taiwanese founder get a US EIN?
Yes. The IRS instructions for Form SS-4 let international applicants call 267-941-1099 to obtain an EIN, and state that only international applicants can receive an EIN by telephone. Applicants can also fax Form SS-4 to 304-707-9471 from outside the US.
How do US customers pay a Taiwanese company most cheaply?
If the company has US account details in its own name, a US customer can pay by ACH, the US domestic transfer system. Without them, the customer sends an international SWIFT wire to the company's foreign currency account in Taiwan.
References
- Invest Taiwan: Bravo Taiwan 2024, foreign exchange reporting and settlement
- Kaizen CPA: Frequently asked questions, Taiwan foreign exchange control
- Lee and Li: Taiwan FSC draft Virtual Asset Service Act (30 April 2025)
- The Block: Taiwan passes key crypto law (1 July 2026)
- Wise: Where can I open a Wise balance?
- Airwallex Help Center: Eligible countries and territories
- Mercury: Eligibility and requirements for opening a Mercury account
- Internal Revenue Service: Instructions for Form SS-4
This guide is general information for businesses, not financial, legal or tax advice. Rules, fees and timings were checked against the sources listed on the review date and may change.