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Taiwan's new foreign talent law a major 'breakthrough': AmCham Taipei

2017/11/08 23:08:15

CNA file photo

Taipei, Nov. 8 (CNA) The American Chamber of Commerce in Taipei (AmCham Taipei) on Wednesday praised a newly passed law in Taiwan that eases visa and residency requirements for foreign white-collar workers.

"This is indeed an important breakthrough -- and something AmCham Taipei has been recommending for many years through its annual White Paper and the Topics magazine," Andrea Wu, president of AmCham Taipei, said in a statement.

"Liberalizing the talent market in Taiwan to allow more foreign professionals to work and live in Taiwan with ease will help speed the transition to a new level of economic competitiveness based on innovation and fuller integration with the global economy," she said.

The Act for the Recruitment and Employment of Foreign Professional Talent, which was passed on Oct. 31, extends the work and residence permits for foreign white-collar professionals from three years to five years.

It also enables the spouses, minor children and disabled adult children of foreign professionals to obtain Taiwan's National Health Insurance coverage once they can show proof of residence, instead of having to wait six months.

In terms of taxes, during the first three years of employment in Taiwan, eligible foreign professionals will be taxed on only half of their income in excess of NT$3 million (US$99,433), according to the act.

Foreign professionals in designated fields are also now eligible to apply for the "Employment Gold Card," which makes it easier for foreigners to change jobs.

Furthermore, under the act, foreign white-collar workers who have been approved for permanent residency are eligible for inclusion in Taiwan's labor pension system.

Founded in 1951, AmCham Taipei has around 1,000 members from over 500 companies and 26 committees that advocate various industry interests.

(By Christie Chen)