Taiwan

About Taiwan

Taiwan lies off the southeast coast of mainland Asia, and western edge of the Pacific Ocean. Taiwan’s tropical, sub-tropical, and temperate climates provide clear differentiations between different seasons. Taiwan has numerous heritages to record the evolution of its country. Taiwan is famous for its cuisine and “night-market”. In order to boost the economy, Taiwan launched the migrant policy back into August 2008. Hong Kong and Macau residents can claim for residency at Taiwan by investing TWD 6,000,000 to set up a business. After living in Taiwan for 1-2 years, passport and identity can be applied for. Taiwan passport holders enjoy visa-free travel in 164 countries over the world.

Plan A: For permanent resident of HKSAR or Macau

Qualifications:

• Must be HKSAR / Macau passport holder
• Set up business with TWD 6,000,000 initial capital, run the business for at least 3 years and hire at least 2 Taiwanese employees for each year
• A Taiwanese legal guarantor
• No criminal record
• Pass the body check

Family Sponsorship:

• Unmarried child below age of 20

* All family members must be permanent resident of HKSAR or Macau

Resident Requirement:
After being granted the permanent residence the below requirements are needed:

• Continuously live in Taiwan for 1 year; Only allow 30 days away from Taiwan each year, or
• Continuously live in Taiwan for 2 years; require staying in Taiwan for more than 270 days each year.

* Allowed to retain HKSAR or Macau passport after Taiwan Passport is granted.

Plan B: For foreigner

Qualifications:

• Foreign passport holder, non-resident of HKSAR, Macau or Mainland China
• Invest over USD$ 200,000 in Taiwan
• No criminal record
• Pass the body check

Family Sponsorship:

• Your spouse
• Unmarried child below age of 20

* All family members must be permanent resident of HKSAR or Macau

Resident Requirement:

• Living in Taiwan for at least 183 days per year for 5 consecutive years

Documents required

• 6 color photos of 3.5 cm x 4.5 cm (white background)
• Hong Kong/Macau Special Administrative Region Passport
• Hong Kong/Macau Permanent Resident Identity Card
• Mainland Travel Permit for Hong Kong and Macao Residents (Home Return Permit)
• Marriage certificate (for dependent-spouse)
• Birth certificate (for dependents-children)
• Deposit certificate of the main applicant in the most recent month
• Proof of employment or retirement of the main applicant
• The highest academic qualification of the main applicant
• Certificate of no criminal record for the main applicant and spouse for the past 5 years
• The main applicant and spouse's health check certificate (valid within three months)
• Sponsor’s letter of guarantee, employment certificate and identity card
• Hong Kong/Macau Resident Identity Confirmation Letter (For those whose birth place is in Mainland China, a certificate of cancellation of mainland residence should be attached)
• Hong Kong and Macau Investment Plan

Procedures

• TaiwanFree consultation & assessment(1day)
• Collect information from client
  Contract signing; 40% down payment
• Open Taiwan bank account&Obtainuniform ID number (1 day)
• Obtain approval letter & Remit 6 million NT (10-12 weeks )
  Prepare no criminal record & certify documents; 30% further payment
• Settlement of exchange & Body check(1 day)
  Remittance and settlement must be completed in a week
• Investment verification & Company registration (4-6 weeks)
• Obtain residence permit(2-3weeks)
  30% payment
• After fulfilling residence requirement and running the business for at least a year, apply for citizenship

* Time is estimated for reference only.

ProceduresMigrant Advantages

1. Can grant Passport in short period:
HKSAR and Macau residence can grant the passport as quick as 1 year and receive identity and permanent residency in Taiwan.

2. Passport convenience:
Taiwan enjoys visa-free travel in 164 countries. Since Taiwan joined the VWP scheme of U.S in 2012 Oct, Taiwan passport holders can go on travel or business trips to the U.S for 90 days without applying for a visa.

3. Lower investment requirement:
Only TWD 6 million (HKD 1.5M) is needed to set up a business in order to obtain the identity. It has a much lower investment floor compared to Singapore, Australia and UK.

4. National Health Insurance:
Taiwan has promoted its national health insurance for 18 years. All residents are required to purchase insurance in exchange for fair and high standard medical service. In 2012, CNN conducted an edition in reporting Taiwan’s national health insurancewhich represents the forcefulness of the scheme. There are other countries trying to adopt the same concept as Taiwan.

5. Culture Exchange:
Similar to Hong Kong, Taiwan has a variety of culture including traditional Chinese, European, American and Japanese. The common language is mandarin which Hong Kong people would have a fundamental basis. The close and similar culture could assist foster migrants to adapt to Taiwanese culture.

6. Quality of life, low consumer index:
According to OECD 2013 report, Taiwan ranked 19 in the “Happy index” which is higher than Japan and Korea. From the prospective of “Living standard:, “Income”, Taiwan ranked in the top 10. Generally speaking, Taiwan has a much higher score in the quality of life compared to HK and Macau. Moreover, Taiwan has a lower consumer index. According to website Expatistanin 2014, Taiwan ranked 136 in the consumer index which is a much lower index than Singapore, Japan and Korea.

Common FAQ

1.	Q:	What are the taxes for business set up?
	A:	Sales tax (5%), collected every two monthsbusinessprofit tax (under 500 thousand: 19%, over 500 thousand: 20% ) , collected annually.
2.	Q:	Can the 6 million investments be transferred?
	A:	Yes, after inspection from Consulate, it can be used to invest in business related equipment.
3.	Q:	Is it possible to acquire a Taiwan company or invest in a current company instead of starting up a new business?
	A:	Yes. However, it is reminded that a detail inspection should be conducted on the company background and business nature to prevent any problems that could pro-long the execution time of the Consulate.
4.	Q:	Am I suitable to work locally with a resident status?
	A:	As stated in Taiwan LabourLaw, applicant’s place attendance to work is limited to his own business, he is not allowed to work outside the company.
5.	Q:	Can my child complete studies in local education institutions after granting resident status?
	A:	Yes. In accordance to the education bureau, an application for pursuing studies in Taiwan could be made within 90 days after granting the permanent residency.Education bureau would arrange applicant’s children to pursue studies in an institution nearby the residence address.
6.	Q:	Am I entitled to National Health Insurance after granting residence status?
	A:	Yes. Applicant bares the same rights as local residents. A fixed amount of contribution is paid monthly in order to enjoy welfare of the National Health Insurance Scheme and National Annuity.
7.	Q:	What are the relevant taxes for HKSAR and Macau residence to purchase property?
	A:	Stamp duty, Land Value Tax, House Tax and Contract Tax.
8.	Q:	What are the consequences if the applicant shuts down the business after granting the residence status?
	A:	It would affect application for extended residence and permanent residency.Itis of no consequence when you sell your property only after you have been granted the permanent residency.
9.	Q:	How long is needed for the whole process, including setting up a business?
	A:	The whole process is about 3 months.