21 January, 2009
Amendment Would Allow Foreign Investors to Obtain Residency for their Parents
Foreign investors holding residence permits may soon be able to apply to have their elderly parents or adult children obtain residency in Taiwan. The Legislative Yuan has recently passed the first reading of an amendment to Article 23 of the Immigration Act, in line with recent moves by the government to encourage foreign professionals to invest in Taiwan. The Council of Economic Planning and Development announced earlier last year a series of tax incentives for foreign professionals.
Under the amendment, foreign investors or foreign professionals possessing certain government-designated technical skills who hold Alien Resident Certificates (ARCs) or Alien Permanent Resident Certificates (APRCs) would be able to apply for permanent residency for their parents over 65 years of age, or adult, unmarried children. Under the Regulations Governing Visiting, Residence and Permanent Residence of Aliens, a foreign investor may obtain residency by investing at least NTD 30,000,000 (approx. USD 895,000) in Taiwan.
Other foreign white-collar professionals with ARCs or APRCs whose expertise fall outside of the foreign investor or specialized technical skills requirement would, upon application and review, be allowed to apply for residency for disabled adult children only. Elderly parents or adult children who obtain residency in Taiwan would be eligible to join Taiwan's nationalized health care system.
For legal guidance on employment law in Taiwan, please contact Christine Chen.
For help obtaining work permits and resident status for foreigners and PRC nationals, please contact Lloyd Roberts.
