Würth Group

Leading producer of assembly and fastening materials, Würth Group, needed help with setting up a new entity and managing day-to-day back-office functions in Taiwan. TMF Group had the local knowledge and experience needed to enable Würth to focus on its core business.

The challenge

While Würth Group’s Taiwan office has been operating for more than 25 years, a few years ago the company identified a new business opportunity in the jurisdiction, and decided to establish a new entity focused solely on purchasing and quality control.

Würth’s in-house counsel in Germany was not familiar with Taiwanese entity incorporation procedures, payroll legislation, tax compliance, accounting or operational regulations. The company needed a partner that could help to establish the legal entity and keep it compliant with the jurisdiction’s ever-changing legislation and statutory requirements. TMF Group had the local knowledge and extensive experience it needed.

The solution

Würth Group benefits from the ‘one-stop shop’ partnership it has with TMF Group. Instead of searching for multiple service providers, it only needs to engage one partner for accounting, tax compliance, and payroll processing services in Taiwan. TMF Group helps the company to settle all the necessary statutory payments and requirements – such as filing tax returns, employment insurance and pension payments – and consolidate everything into one invoice.

Würth Group takes great pride in the quality of its products; quality assurance is the cornerstone of the brand’s core values. Working with TMF Group releases the company from the hassle of back-office functions, freeing up resources so it can focus on developing a supply chain in Taiwan that delivers to the highest quality standards.

About Würth Group

Würth Group is the world market leader in the trade of assembly and fastening materials. It consists of more than 400 companies in over 80 countries, and has more than 80,000 employees. As a testament to Würth’s commitment to quality, more than 50,000 of its products are certified with ISO 9001 Quality Management Systems certification and ISO 14001 Environmental Management certification.

• Industry: Service, Quality inspection, supply chain, supplier development, R&D, quality
• Jurisdictions where we serve them: Taiwan region
• Number of employees processed by TMF Group: 24 employees
• Services provided:
  • Accounting and reporting
  • Human Resources
  • Payroll
  • Tax Compliance