The extradition bill is currently the most controversial topic in Hong Kong, tiding to the city’s recent protest, violence and troubled relationship between Hong Kong people and Beijing. More importantly, the political status has sparked another new migration & immigration trend in the financial hub, the city has it new talking point set on migrating Taiwan.
Official data shows, the number of people granted Taiwan residency from Hong Kong and Macau, has more than doubled growth (to 1,267) in 2018 compared to 2008. In 2019, there are about 1,000 Hongkongers moved to Taiwan. The Hong Kong Security Bureau says Taiwan is the fourth popular immigration destination, compared with 2,400 to Australia, 1,600 to the United States, and 1,100 to Canada, the bureau said. Currently, nearly 9,000 students from Hong Kong in Taiwan potentially becoming long term residents. As foreigners with valid student or investor visa can apply for permanent residency after working in Taiwan for five years and they must live there for 183 days of the year.
Taiwan have made welcoming immigration policy specially for HK and Macau SAR residents. Hong Kong or Macau passport holders willing to invest $200,000 in Taiwan in an active business, investor will be granted with a Resident visa for Investment. According to the National Immigration Agency of Taiwan’s Ministry of the Interior, a total of 297 people from our city emigrated to Taiwan in the first quarter, up 44 percent from a year ago.
In recent years, Hong Kong people have been increasingly upset by immigrants and sky-high property prices pushed up by foreign investors. Wong, a migrated Hong Kong citizen, claims she moved to Taiwan because she wanted her children to have let interaction with all the complicated political issues. Further, “business and general political environment is extremely safe, the Territorial tax system is beneficial to business, Taiwan has high quality of life and travelling between HK to Taiwan is convenient “she said.
Requirements to acquire a “Resident visa for Investment”
Candidates invest an active local business in Taiwan with a minimum of USD $200,000 with be granted a renewable 2-year visa. By maintaining the investment and reside in Taiwan for at least 183 days every year, applicant may keep (or renew) their residency permits indefinitely.
Permanent residency and citizenship
Dual citizenship is recognized in Taiwan, therefore applicants are not required to renounce their previous nationality to become a citizen of Taiwan. Hong Kong & Macau SAR citizen may apply for citizenship and naturalization without having to apply for PR first. SAR applicants will need to reside for in Taiwan for 2 years majority of the time prior to the application submission and to guarantee business operation before successfully obtain the Taiwan Passport.
For foreign citizens with 5 years of consecutive legal residency, Taiwan visa holders may then apply for a permanent residence permit. Noted that applicants must be receiving at least twice that of the minimum wage set by the council of Labor Affairs. Taiwan passport holders may have full rights, live and work in Taiwan at all times. Free access to local education and healthcare benefits available as well as the visa-free privileges to 134 countries including the U.S., UK, Schengen countries.
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