Taiwan employment visas in 2021
The Taiwanese Government offers over ten visa options for foreign nationals looking to visit Taiwan for various reasons including i) business and investment purposes ii) visiting for tourism iii) studying iv) employment v) medical, among other various purposes. Find below some of the selected visa options preferred by our Clients.
Foreign nationals looking to stay in Taiwan for more than 6months for either business, investment or employment purposes must apply for a residence visa. This type of Visa is ideal for families who wish to migrate to Taiwan.
- Investment resident visa
- This visa is only available for foreign investors seeking to invest over US$200,000 in Taiwan;
- The applicant must first obtain a certificate of investment from the Taiwanese Investment Commission, MOEA;
- Thereafter an application must be submitted to the Taiwanese embassy in the applicant’s country of origin;
- Approval is granted on a case by case basis upon presentation of other supporting documents.
- Entrepreneur resident visa
- This visa is applicable to those foreign entrepreneurs looking to invest in Taiwan at least US$31,000 (NT$1million);
- The applicant must have been educated to at least senior high school level (or equivalent) to qualify;
- The applicant must have registered an enterprise/company in Taiwan for less than 5years;
- The application can be submitted to the Ministry of Foreign Affairs (MOFA) or the Taiwanese embassy/consulate abroad.
- Employment visa
- This visa is applicable for foreign nationals looking to seek employment in Taiwan for more than 6months;
- The employer must first obtain a work permit from the Bureau of Employment and Vocational Training (BEVT);
- Upon approval, the visa holder must apply for a Re-entry Permit and an Alien Resident Certificate from the National Immigration Agency.
This type of visa is applicable to foreign national who intend to stay in Taiwan for less than 6months for business purposes, short term employment or tourism purposes. This type of visa normally permits a single entry only unless a higher fee is paid and can be obtained on arrival or through any Taiwanese embassy or consulate.
The general requirements for application for a Taiwanese visa include:
- Present a completed and signed visa application forms;
- Original and scan copy of a valid passport;
- Two passport-sized photographs taken within the last six months;
- Evidence of business activity in Taiwan such as an employment letter, trading records, invitation letter etcetera;
- Travel itinerary and details of your contact in Taiwan;
- Foreigners from certain designated countries must fulfil additional requirements.
Migrate to Taiwan
International entrepreneurs find migration to Taiwan straightforward thanks to Healy Consultants’ comprehensive relocation services. Our services related to migration to Taiwan include:
- Healy Consultants will assist our Clients looking to settle in Taiwan with;
- Taiwan company formation and corporate bank account opening;
- Obtaining a Taiwan employment and residence visas from the Taiwan National Immigration Agency;
- Finding the suitable local or international schools in Taiwan for their children;
- Finding the right property for purchase or renting purposes;
- Offers personalized orientation programmes to key points of business interest within Taiwan and its neighbouring countries.
- Healy Consultants will assist our Clients looking to rent or purchase property in Taiwan with:
- Securing property in major cities like Taipei, Kaoshiong, Taichung, Taoyuan, Hsin Chu and Tainan;
- Arranging property viewings according to Client specifications and budget;
- Providing assistance with the drafting of lease agreements;
- Arranging for efficient connection of utilities;
- Introduction to Taiwan or international banks to obtain property financing.
- International entrepreneurs migrating to Taiwan will benefit from Healy Consultants’ services including:
- Providing tailored cross-cultural training programmes covering Taiwan business etiquette and protocols;
- Introductions to local and international banks to open personal bank accounts;
- Offer specialized language courses in Mandarin and Hokkien;
- Communication, conflict management and negotiation, and sales and marketing techniques.
Taiwan corporate banking options
Over the past decade, Healy Consultants Group PLC supports local and foreign entrepreneurs interested to obtain quality corporate banking solutions in Taiwan. Due to our extensive background in South-East Asia, Healy Consultants will shelter our Client from the administrative challenges associated in opening a new corporate bank account in Taiwan.
Taiwan banking system
- The Taiwan banking system boasts 41 commercial banks, most of them being Taiwanese or Asian-owned brands;
- Regionally important banks in Taiwan include: i) Cooperative bank and ii) Mega International Commercial Bank. Aiming to provide regionally competitive banking packages, Taiwan banks are becoming preferred service providers for many businesses;
- Some of the more renowned international banks include the Standard Chartered Bank Taiwan, Cathay bank and Citibank;
- To compete with nearby financial hubs, Taiwan banks offer easy to use corporate and checking accounts with superb online banking in English, saving accounts, debit and credit cards, fixed term deposit and wealth management services;
Healy Consultants services
- Healy Consultants bank account opening team can open the corporate account within 4 weeks and obtain internet banking approval within the subsequent 3 weeks.
- During the company formation and in order to open a new corporate bank account, application needs to be submitted for foreign investment approval in Taiwan with the Investment Commission, MOEA (MOEAIC);
- Following confirmation of foreign investment, Healy Consultants will assist our Client secure preparatory corporate bank account, similar to a capital account;
- Following bank account approval, the preferred Taiwan bank will directly and independently email our Client the corporate account number;
- Once the company is fully registered, Healy Consultants can proceed to open a local business bank account;
- According to the World Bank, getting credit in Taiwan is moderately difficult as the country is ranked 62nd in the Doing business report for 2017.
- Banks in Taiwan will finance foreign investors only if the following conditions are met i) a detailed business plan is prepared and approved by the bank; ii) availability of security; iii) experience of the business owners iv) the last 3 years’ audited financial statements v) a realistic feasibility study and vi) project strength and weaknesses analysis (SWOT);
- Healy Consultants is able to efficiently assist our Clients to secure trade finance services including i) bank guarantees; ii) letters of credit iii) finance against trust receipt and iv) documents against payment and against acceptance;
- Healy Consultants will help our Clients to obtain corporate finance in the form of a loan, overdraft or simply preferential credit terms.
Foreign exchange controls
- The Central bank of Taiwan imposes currency exchange controls to both local and foreign investors when foreign currency exchange transactions pass a certain threshold;
- While, non-residents can freely repatriate funds from the country, there is a daily limit of US$50 million on inward and outward remittances per corporate entity and US$5 million per individuals;
- Local and non-resident corporates and individuals can open foreign currency accounts without authorisation required by the Central bank;
- Resident companies can freely remit dividends to non-resident shareholders, if below the daily transaction limit;
- Non-resident shareholders can freely repatriate sales proceeds of their stake in a Taiwan resident company, if below the daily transaction limit;
Healy Consultants will follow the below established process to secure timely corporate bank account approvals for foreign investors in Taiwan.
Global corporate bank account opening process