Boosting the Domestic Economy: Relaxing the Requirements for Entrepreneurial Applications from Hong Kong and Macao Residents to Come to Taiwan

To promote domestic economic development and attract outstanding talent from Hong Kong and Macao to start businesses in Taiwan, the Ministry of the Interior approved on June 11 at its ministerial meeting the draft amendment to the "Regulations Governing Permits for Residents of Hong Kong and Macao to Enter the Taiwan Area and to Reside or Settle Permanently," adding provisions allowing entrepreneurs from Hong Kong and Macao to apply for residence and permanent settlement in Taiwan; those who have resided continuously for five full years and meet the requirements may apply for permanent settlement, in order to attract residents of Hong Kong and Macao to start businesses in Taiwan.

The Ministry of the Interior stated that, in conjunction with the Executive Yuan's "Entrepreneur Visa Planning," and in order to increase the incentive for entrepreneurs to start businesses in Taiwan, combine international creativity with local resources, and energize domestic entrepreneurial activity and momentum for economic growth, it has amended Articles 17, 26, and 30 of the "Regulations Governing Permits for Residents of Hong Kong and Macao to Enter the Taiwan Area and to Reside or Settle Permanently," granting a legal basis for residence and permanent settlement for residents of Hong Kong or Macao who come to Taiwan for innovation and entrepreneurship, so as to facilitate business startups by residents of Hong Kong and Macao and invigorate the economy.

This amendment newly adds that residents of Hong Kong and Macao may apply for residence in Taiwan for innovation and entrepreneurship after passing review by the Ministry of Economic Affairs; in addition, to align with the residence validity period for foreign entrepreneurs, the initially issued residence validity period is one year, and subsequent extensions of residence of two years may be granted based on entrepreneurial performance; furthermore, those who have been permitted to reside continuously for five full years and have resided in the Taiwan Area for 183 days or more each year may apply for permanent settlement.

The Ministry of the Interior pointed out that this draft amendment will follow statutory procedures and be submitted to the Executive Yuan for approval before promulgation and implementation.