Taiwan passes new law to attract more foreign professionals
Taiwan’s Legislature passed the Act for the Recruitment and Employment of Foreign Professional Talent on Oct. 31, 2017.
Updates of the new requirements are in the following categories:
- Extension of work and residence permits from current 3 to 5 years.
- Remove the requirement of remaining at least 183 days per year to maintain their status
- Allow foreign nationals to enter Taiwan on a job-seeking visa that will be valid for 6 months vs. the current 3 months. However, there is a limit to how many of them are allowed, which will be reviewed every year.
- Issuance of an “four-in-one card”, an Employment Gold Card that includes a work permit, residence visa, alien residency permit and re-entry permit. This makes it easier for foreign nationals to change jobs in Taiwan as they no longer rely on their employer to apply for a work permit.
Taiwan National Health Insurance
Spouses and children can join the National Health Insurance as soon as they obtain documentary proof of residence instead of waiting for 6 months.
Additionally, foreign white-collar workers who have been approved for permanent residency will be eligible for:
- Spouses, minor children and disabled children can also apply for the same status.
- Foreign professionals with a yearly salary of more than NT$3 million can enjoy an income tax cut of 50% for three years
- inclusion in Taiwan’s labor pension system and
- have the option of receiving either a lump-sum payment or a monthly pension upon retirement.