The 60-second version
Taiwan bank exit needs zero balance certificate, NTD SWIFT to NRE, and closure letter — complete before ARC cancellation and BLI export.
Close bank before ARC cancel — some branches require valid ARC for outbound wire
CTBC, Cathay United, and Mega Bank serve foreign nationals — obtain closure certificate in Chinese and English.
NTD wires to NRE need Indian AD bank FEMA compliance; USD leg common for large balances.
Tax lane: Taiwan tax guide for NTB settlement.
Taiwan bank wind-down
| Bank | Currency | Step |
|---|---|---|
| CTBC | NTD/USD | Written notice |
| Cathay | NTD | Zero balance |
| Mega Bank | Multi-CCY | Closure letter |
| NRE | INR/USD | SWIFT receipt |
Closure
Wire first
While ARC valid.
Notice
Written closure request.
NTD wire
SWIFT to NRE.
Closure letter
Zero balance cert.
Schedule FA
Last FY foreign account.
Flow
Taiwan bank kit
- Account stmt.
- Closure letter (EN).
- SWIFT.
- ARC copy.
- NTB cert.
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Labor pension
BLI pension account is separate from bank — do not confuse closure paths.
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FBAR?
US person — FinCEN 114 if aggregate > USD 10K.
ARC timing?
Wire before ARC cancel — branch may block outbound transfer after.
Schedule FA?
Declare in last FY you held foreign account.
Brokerage?
Close TW securities account before bank if linked.
DTAA?
India-Taiwan DTAA may give FTC on TW withholding — Form 67.
TCS?
Inbound remittance may attract TCS — verify AD bank.
Your NRE account redesignation has a deadline.
Banks don't remind you. You need the right account stack before salary, rent, and EMIs start moving. Get the exact sequence.