During the liquidation process, the liquidators are deemed as a company’s responsible persons.  Unless otherwise appointed, shareholders of a limited company or directors of a company limited by shares shall be liquidators.  The process of liquidating a Taiwan company can be divided into the following four main steps.
 

	Duration	From	To
Step 1	15 days	liquidator's assumption of office	The court being notified about liquidation
Step 2	6 months (extendable after applying with the court)	liquidator's assumption of office	completion of liquidation
Step 3	15 days	completion of liquidation	Circulating liquidation statements to shareholders for approval
Step 4	15 days	Upon the shareholders approving liquidation statements	The court being notified about completion of liquidation

Under Taiwan law, post-liquidation files shall be safekept in Taiwan for a period of 10 years.

Liquidation procedures in Taiwan involve many details. The introduction above is intended to give a general introduction and you need to consult independent advice before applying the information above. If you require further assistance, please contact alicia.hsu@dentons.com.tw (August 2020).