TAIPEI (Taiwan News) — The Legislative Yuan on Friday (June 18) passed a bill designed to recruit foreign talent by relaxing requirements for them to work in Taiwan and obtain benefits.
On Friday, the Legislative Yuan passed the third reading of a draft amendment of the Act for the Recruitment and Employment of Foreign Professionals (外國專業人才延攬及僱用法). The amendment loosens the requirements for foreign teachers and job seekers, relaxes the rules on obtaining permanent residence, extends tax concessions, and lowers conditions for health insurance.
1. Relaxed requirements for foreign teachers, job seekers
In response to Taiwan's plan to become an English-Mandarin “bilingual nation” by 2030 and to meet the educational needs of the children of foreign talent, the Ministry of Education will relax the requirements for foreign teachers to be employed at schools approved by the ministry to teach children of foreign professionals.
In addition, fresh graduates from the world's top 500 universities will no longer be required to have two years of work experience to be able to apply for a job in Taiwan.
2. Shortened criteria for permanent residence
The continuous residence requirement for foreign professionals to become eligible for permanent residence status will be lowered from five years to three. The required period of residency for foreign professionals and "foreign special professionals" who have obtained master's or doctorate degrees in Taiwan can be reduced by one to two years.
"Foreign special professionals" refers to foreigners who have expertise in fields such as science and technology, economics, education, culture, the arts, sport, or other fields.
3. Tax incentives
Tax deductions for foreign special professionals will be extended from three to five years. Over this five-year period, foreign special professionals who make an annual income of NT$3 million (US$106,000) or higher can deduct half of their salary from their gross income calculation when assessing taxes.
4. Health insurance access
Foreign special professionals and their family members will immediately be eligible for Taiwan's National Health Insurance (NHI). Normally, foreigners must wait six months before they can qualify.