Taiwan plans to relax restrictions on immigration from Hong Kong and Macau, Invest 560,000 Hong Kong dollars to apply for entrepreneurial visas

Taiwan’s National Development Council has recently completed the regulatory notice procedures for the revised draft of the Law on the Recruitment and Employment of Foreign Professionals. The draft articles will be submitted to the Executive Yuan for deliberation in the near future. The revised draft relaxes the restrictions on Hong Kong and Macao residents' entrepreneurial immigration in Taiwan, and only require to invest NT$2 million (about HK$560,000) on the designated fund-raising platform to apply for an entrepreneur visa.

For investment, the government adheres to the established principles of taking into account the national security management for Hong Kong and Macau funds that are beneficial to Taiwan’s economic and industrial development. The relevant ministries and meetings have also discussed investment cases that meet specific conditions and have no national security and false investment concerns will go through priority review.

The draft of the Law on the Recruitment and Employment of Foreign Professionals is being revised, adding to the top 500 university graduates in the world. For specialized or technical work in Taiwan, the requirement for more than 2 years of relevant work experience can be reduced, at the same time, the application of tax incentives for specific foreign professionals will be extended. The period is up to 5 years and the increase of foreign professionals can apply for an extension of residence for 6+6 months before the expiration of the work residence permit, which is convenient for employment in Taiwan.

In terms of schooling, the Ministry of Education encourages students to work in Taiwan after graduation, and Hong Kong and Macau students to stay in Taiwan must be graded on multiple items such as academic qualifications, employment salary, work experience, and Chinese language proficiency. The cumulative score exceeds 70 points, and they are engaged in professional or Skilled workers are not subject to general foreign qualifications and salary restrictions. In addition, Hong Kong and Macau students can apply for an extension of residence for 6+6 months after graduation.

Taiwan’s Ministry of Education provides assistance for Hong Kong students to transfer to Taiwan, including those who are already studying in Hong Kong, can apply for admission to Taiwan, and ask the Overseas Chinese Preparatory Department to offer additional spring classes to provide appropriate learning connections for Hong Kong students studying in Taiwan.