Personal accounts: Taiwan

Updated 6 October 2026

An honest assessment before work starts, the quote is fixed in writing.

Foreigners open a personal account in Taiwan mainly with an Alien Resident Certificate, that is, with a residence permit. It gives access to an ordinary account in New Taiwan dollars and foreign currency, a bank card and online banking. Without a resident certificate it is hard: Chunghwa Post has suspended account opening with only a passport and a foreigner ID number, except for students receiving an approved scholarship. Some banks take non-residents at their offshore banking units, but such an account works in foreign currency only and is not covered by deposit insurance.

A resident certificate comes through work, study, family, investment in a Taiwanese business or the Employment Gold Card for professionals, which combines a visa, work permit and residence permit. The government fee for a resident certificate is NT$1,000 per year of validity, about US$32. A non-resident converts up to US$100,000 per transaction without Central Bank approval, a resident up to US$5 million a year.

Documents

• Passport and a valid resident certificate.
• A second photo ID such as a driving licence.
• A Taiwanese phone number and a local address.
• For employees, employer details; for students, a university letter.
• Tax residence details and source of funds for large inflows.

How opening works

1. Entry on a resident visa and a resident certificate from the immigration agency.
2. A branch visit with documents; the account is usually opened in one visit.
3. The card is issued on the spot or within a few days; online banking is activated after the first branch login.

Gold Card: the shortest route to an account

Professionals with proven qualifications in science, technology, economics, education, culture, sport, finance and other fields can get the Employment Gold Card, which doubles as a resident certificate. The immigration agency issues it for one to three years and no employer is needed. The fee for non-US foreign passport holders applying from abroad is NT$3,700 for one year (about US$117), NT$4,700 for two (about US$148) and NT$5,700 for three (about US$180). With the card in hand the account is opened on the first bank visit.

Good to know

• Deposits at Taiwanese banks are insured up to NT$3 million (about US$94,400) per person per bank, foreign currency included.
• A bank may restrict transfers while your resident certificate is short-dated or you have no local phone.
• Taiwan exchanges account information for tax purposes under bilateral agreements with a number of countries.

Common reasons for refusal

• No resident certificate, or one about to expire.
• No second ID, local phone or address.
• Unclear source of funds, large inflows without documents.
• Nationality or links that call for enhanced checks, including Russian ones.

What we do

We suggest a residence route that fits your profile, prepare documents and translations, choose a bank that works with foreigners and accompany the visit. If you have no resident certificate yet, we assess whether an offshore banking unit account will do. We quote after a consultation.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · All country programs

FAQ