TAIPEI (Taiwan News) — Taiwan launched a program Thursday to make it easier for foreign residents and international professionals to access banking services, including opening accounts and applying for credit cards, through designated bank branches across the country.
The National Development Council announced the initiative, saying six banks have been selected to provide streamlined one-stop financial services for foreign nationals. The program is intended to address longstanding complaints from expatriates and foreign professionals about difficulties accessing Taiwan’s banking system.
A press conference in Taipei was led by NDC Deputy Minister Jan Fang-kuan (詹方冠), Financial Supervisory Commission Banking Bureau Secretary-General Chang Chia-kuei (張嘉魁), and representatives from six participating banks: CTBC Bank, E.Sun Bank, Taipei Fubon Bank, Taishin International Bank, Mega International Commercial Bank, and First Commercial Bank.
Under the program, foreigners can make appointments for financial services at 17 designated branches in Taipei, Taoyuan, Hsinchu, Taichung, Tainan, and Kaohsiung. A website also provides clear information about what personal information and documents are needed to open financial accounts.
Feedback from foreign community
Jan said financial services are a critical component of attracting and retaining international talent in Taiwan. While the government has introduced policies such as the Gold Card and permanent residency reforms, practical challenges remain for foreign professionals and their families.
According to surveys conducted by the International Talent Taiwan Center and feedback from foreign chambers of commerce, the most common banking-related complaints involve difficulties opening bank accounts, high barriers to obtaining credit cards, and cumbersome international money transfer procedures.
Jan noted that newly arrived foreign professionals often lack a local credit history and have traditionally faced significant obstacles when applying for credit cards, including requirements to provide a Taiwanese guarantor.
The program seeks to address those issues by allowing model banks greater flexibility in servicing and evaluating applicants. Some banks will accept proof of overseas financial assets, tax records, pay slips, or account balances when reviewing banking and credit card applications, and have relaxed requirements for certain applicants.
Chang said the FSC has spent years encouraging banks to improve multilingual services and provide a more welcoming environment for foreign customers. He said he hoped all banks would ultimately provide these services, not just the six model banks.
The NDC said the model program builds on Taiwan’s existing bilingual banking initiative by introducing online appointment systems, dedicated service personnel, and standardized procedures designed specifically for foreign customers. Participating banks will be required to provide three key improvements: more flexible application pathways, proactive appointment-based services, and dedicated staff trained to assist foreign clients.
Advance appointments
Under the appointment system, banks will be able to inform customers about required documentation before branch visits, reducing delays and improving service efficiency. The designated branches will also establish dedicated service counters and personnel trained to handle common issues faced by foreign residents, including account opening, credit card applications, international transfers, and multi-currency banking services.
Soochow University professor Lin Yu-ting (林育廷), who helped develop the initiative, said many foreign professionals have faced difficulties accessing financial services despite having substantial assets or senior professional positions overseas. Lin cited cases in which foreign executives with millions of US dollars in assets were unable to obtain credit cards or other banking services because they lacked a Taiwanese credit record.
She said the project was designed from the perspective of foreign residents, focusing on practical needs and improving the overall customer experience. The six participating banks were selected through a competitive process, with CTBC Bank operating the largest network under the model program, covering six branches across Taiwan.
The NDC said it will continue gathering user feedback and working with financial regulators and participating banks to improve services. The council also plans to coordinate with other government agencies on issues affecting international talent, including children’s education and housing services.
Officials said the initiative is part of a broader effort to make Taiwan a more attractive destination for foreign professionals and demonstrate the government’s commitment to creating a talent-friendly environment.
