TAIPEI (Taiwan News) -- The government is considering a number of incentives aimed at attracting foreign talent such as new visas, residence, health insurance, and tax breaks said Taiwan's Cabinet spokesman Hsu Kuo-yung (徐國勇), CNA reported.
Hsu announced the proposed bill after Premier Lin Chuan (林全) met with legislators from the ruling Democratic Progressive Party (DPP) to discuss the proposed "Foreign Talent Recruitment and Employment Law."
The draft bill would relax restrictions on work permits and the length of time foreign professionals from countries other than mainland China can stay in Taiwan.
Hsu said that foreign professionals would receive a "four-in-one card," which includes a work permit, residence visa, alien residency permit and re-entry permit.
There is also a proposed "seeking employment gold card," which would provide recipients with a six month period to find employment.
The new law would offer foreign professionals with an annual salary of NT$2 million (US$65,486) tax incentives for up to three years.
Under the new law, foreign professionals, their spouses, and non-adult children would no longer have to wait six months to become eligible for Taiwan's national health insurance.
The draft would encourage students who graduate from the world's top 500 universities to participate in internships in private companies in Taiwan, but the minimum monthly salary would be set at NT$47, 971 to avoid taking jobs from local Taiwanese citizens.