TAIPEI (Taiwan News) -- According to a November 8 press release by the American Chamber of Commerce in Taipei, AmCham Taipei has given its complete support towards the new foreign talent act and extended its congratulations to the legislature and the executive branches for laying out the act as well as the National Development Council (NDC) for drafting the initiative.
"This is indeed an important breakthrough and something AmCham has always been recommending and promoting for many years through its White Paper and the Topics magazine. We congratulate the legislature and the executive branches, especially the NDC which drafted the initiative. 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," said the Chamber's president, Andrea Wu.
Wu added,"With the passage of the new act, we look forward to learning more about the details of the law."
AmCham Taipei is a non profit business organization dedicated to promoting the interests of international business in Taiwan and is the largest and one of the most effective business organizations in the country.
The chamber has over 1,000 members representing over 500 companies in every sector of the economy.
The key incentives according to the new foreign talent act include:
1. Extending the work permit for foreign professional workers to five years.
2. Allowing family members to be eligible for the National Health Insurance regardless of age.
3. Up to 50% tax reduction for eligible foreign employees with salary exceeding NT$3 million.
4. Special foreign professionals to be included in the retirement pension system under the Labor Pension Act.
5. Employment gold cards to be made available for eligible professionals to make it easier for employees to switch jobs
6. Allowing eligible candidates to apply for work permits without having to go through their employers.
7. Applying for employment-seeking visa will be easier than before.
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