Taiwan’s visa program for foreign entrepreneurs not a success so far

Taiwan’s visa program for foreign entrepreneurs not a success so far

On July 31, 2015, Taiwan launched a visa program for foreign entrepreneurs to come to Taiwan to create innovative businesses.  However, up to October 6, 2016, only 35 foreigners have applied and only 26 have been approved.  Over half of the approved applicants are foreigners who have had experience in Taiwan as students or foreign workers in Taiwan.

The current regulations are restrictive, not taking into consideration the applicants’ family members or partners who want to work or study in Taiwan.  Application procedures and business registration are complex and time consuming.  These have dashed the willingness of foreigners to come to Taiwan to set up new businesses.

Of the 26 approved so far, seven are French, six are Americans, four are from Hong Kong, two are Canadians, two are Malaysians, one is Polish, one is German, one is Singaporean, one is Mexican, one is Honduran.  Only a few are foreigners who have come to Taiwan to create their businesses without prior experience in Taiwan.

The Taiwanese are narrow minded in regards to foreigners coming to Taiwan to work.  There is the belief that foreigners who come to Taiwan to create businesses will compete with the locals, take away local job opportunities and health care resources, and Taiwan’s market for innovative enterprises lacks attractiveness to foreigners.  The government hoped to issue 2,000 visas for foreign entrepreneurs to come to Taiwan, but so far only 35 have applied.  Regulations must be changed to allow the applicants’ dependents, partners to stay in Taiwan, get a job in Taiwan, or study in Taiwan.  Taiwan lags behind in similar programs implemented by Singapore and South Korea.

[Master Chen Says]  Indeed, this shows Taiwan’s general narrow-mindedness.  However, Taiwan’s economic strength has always been its medium and small businesses, and many of them lack international recognition as well as effective global competitiveness.  Yet, there is a robust market for entrepreneurialism.  In recent years, the Chinese mainland government has been promoting entrepreneurialism and investing in startup businesses by young Chinese entrepreneurs on the Chinese mainland.  There have been cases in which foreign master chefs who wanted to start a business were restricted to teaching their native language rather than being allowed to engage in teaching culinary arts.