Taiwan Employment Gold Card Trend Analysis

The Taiwan Employment Gold Card is specifically catered to attract foreign professionals in fields like Science, Technology, Economics, and more to be able to work freely in Taiwan for 1-3 years which is renewable, while also having no restrictions when traveling in and out of Taiwan during the card’s validity.

Gold Card holders can also receive the benefit of lower tax rates given they meet the requirements, while having no working restrictions, and an option to bring their spouse and children to Taiwan.

The Taiwan Employment Gold Card program was launched in 2018 as part of Taiwan’s efforts to address skill shortages by attracting international talent to boost its economy. This program is a part of the “Act for the Recruitment and Employment of Foreign Professionals” that was created with the main mission of creating an attractive environment for foreign professionals to live and work in Taiwan.

The Gold Card simplifies the visa process by combining work permit, residence permit, and re-entry permit into one single card. Professional sectors that are considered for Gold Card applications are:

1. Science & Technology

   Professionals with expertise in scientific research, technology innovation, and high-tech industries.

2. Economy

   Experts in business, economics, and trade. Including entrepreneurs and business professionals who can contribute to Taiwan’s economic growth.

3. Education

   Includes academics, educators, and professionals who can support Taiwan’s educational development and innovation.

4. Culture and Arts

   Individuals in creative industries like fine arts, music, performance, and cultural heritage, contributing to Taiwan’s cultural landscape.

5. Sport

   This category includes athletes, coaches, and sports professionals who can contribute to Taiwan’s sports development.

6. Finance

   Professionals in finance, investment, and banking, especially individuals with the expertise in areas like fintech and international finance.

7. Law

   Legal professionals such as lawyers and experts in international law and arbitration that contribute to Taiwan's legal sector.

8. Architectural Design

   Architects, urban planners, and design professionals, supporting infrastructure and creative design in Taiwan.

9. National Defense

   Specialists in military technology, cybersecurity, and other defense-related fields to further advancing Taiwan’s military tactical advantage.

10. Cross-field

    This sector covers professionals whose work spans into multiple industries whilst contributing to various sectors.

11. Digital

    The digital professionals category was recently added in 2023 with a more specific focus on individuals with expertise in AI, cybersecurity, blockchain and cryptocurrency.

Taiwan Employment Gold Card Application Process

In total, the application process from start to finish generally takes between 30 to 70 days. The process of applying for Taiwan's Employment Gold Card is relatively straightforward but involves several key steps:

Eligibility Check

The first step is determining if you qualify, which can be done quickly through the Taiwan Gold Card portal. This allows applicants to see if their professional background aligns with one of the accepted fields, such as Science & Technology, Economy, or Education.

Submitting the Online Application

The online application is user-friendly and typically takes between 1 to 2 hours to complete, depending on how quickly you can gather the necessary documents, such as proof of qualifications or salary.

Skill Assessment and Review

Once submitted, the application undergoes a review process that generally takes 30 to 60 days. If additional documentation is required, this could extend the timeline. Applicants are advised to ensure their documentation is complete and accurate to avoid delays​.

Approval Notification

After the assessment is complete, applicants will be notified whether their application has been approved. If all documents are in order, this usually happens within the 30 to 60 day window.

Card Collection

Once approved, you can choose to pick up your Gold Card at an immigration office or have it mailed. This process typically takes an additional 7 to 10 days, depending on your chosen method​.

Taiwan Employment Gold Card Trends Analysis

Top 3 Sectors

Currently the Taiwan Employment Gold Card holders are mainly dominated by professionals in the economy, science & technology, and education sector. The reason behind this is also caused by the Taiwanese government policies that focus on developing these industries. The holder distribution of the gold card holders as of August 2024 are the following:

1. Economy: 2,883

2. Science & Technology: 1,388

3. Education: 1,250

4. Digital: 543

5. Finance: 434

6. Culture and Arts: 419

7. Cross-field: 203

8. Architectural Design: 37

9. National Defense: 18

10. Law: 12

11. Sport: 11

Economy

Taiwan has positioned itself as a key player in finance, trade, and business, with a strong emphasis on the Five-Plus-Two Innovative Industries and Six Core Strategic Industries. This has led to a high demand for professionals in areas like fintech, global trade, and advanced manufacturing, all crucial sectors to keep Taiwan competitive in the global market. The government's strategic focus on these areas is aimed at strengthening Taiwan's economy and ensuring sustainable growth.

Science & Technology

As a world leader in semiconductors and technology innovation, Taiwan naturally attracts professionals in science and technology. The government is heavily focused on bringing in talent for sectors like artificial intelligence (AI), cybersecurity, and green energy. This helps maintain Taiwan's reputation as a tech powerhouse and supports its efforts to stay at the forefront of global tech advancements.

Education

Taiwan has been making significant efforts to enhance its educational infrastructure and create partnerships with leading universities worldwide. By opening doors to academics and research experts, Taiwan aims to elevate its educational standards and attract foreign professionals in education. The focus is on building high-quality education and fostering a more international academic community within Taiwan.

As of August 2024 there are 7,198 Taiwan Gold Cards active and 11,017 Taiwan Gold Cards issued since February 2018. To find out meaningful information we have gathered some data from the Taiwan Gold Card Office announcements regarding the number of valid cards and in each industry per month from September 2021-September 2024 and the amount of cards issued for every year from the year 2018-2024.

As of today, Taiwan has issued the most Taiwan Employment Gold Cards in the year 2022 with a record of 2,644 cards issued that year. This could be caused by the Legislative Yuan amending new rules regarding to the foreign professionals act which consisted of:

1. Increasing flexibility for the recognition of foreign special professionals.

2. Vying for graduates of the world’s top universities to come to work in Taiwan.

3. Loosening regulations for foreign nationals’ permanent residency applications.

4. Enhancing tax preference and social security measures.

These changes make Taiwan a more attractive place for foreign professionals to continue their career. The addition of new mechanisms that enables the recognition of talent in new industries and cross-disciplinary fields and the removal of the two-year work experience requirement for graduates from the world’s top universities further lowers down the qualification needed for foreign professionals to obtain the Taiwan Employment Gold Card.

The 2019-2020 Surge

The sudden surge of Gold Cards issued between the year 2019-2020 surge was mainly due to the amount of cards issued to the professionals in the Economy sector. The number of card holders from the Economy sector rose from 212 to 1045. This rapid increase was driven by the COVID-19 pandemic, Taiwan’s relatively stable economy and effective pandemic management made it an attractive destination for professionals in finance, investment, and entrepreneurship.

The number of valid Taiwan Employment Gold Cards keeps on increasing throughout the year 2021-2024. There was a significant increase in valid cards in the year 2021-2022 which correlates with the data showing the amount of cards issued during 2021-2022 was reaching an all-time highs due to less requirements needed and more benefits given for foreign professionals to obtain the Taiwan Employment Gold Card.

It is worth pointing out that the amount of valid cards is stagnating going forward to late-2023 to early-2024. The amount of valid cards are starting to pick up more traction recently starting from mid-2024. This stagnation is caused by many different factors being:

1. Global Economic Downturn and Uncertainty

2. Post-Pandemic Adjustments

3. Increased Competition from Other Countries

In 2022, the global economy faced significant challenges like rising inflation, fears of a recession, and instability in key markets. These issues led to more cautious decision-making, with fewer foreign professionals willing to relocate to places like Taiwan due to uncertainties surrounding job security and global mobility. This reduced the overall movement of talent across borders, as many professionals opted to stay put or wait for more stable conditions before considering relocation.

The Stagnation of Taiwan Gold Card Holders

During the peak of the COVID-19 pandemic, Taiwan gained a reputation as a safe and stable destination, which drew many professionals seeking refuge from the global crisis. However, as the pandemic eased and countries worldwide lifted restrictions, some of these professionals opted to return home or pursue new opportunities elsewhere.

Additionally, Taiwan now faces increasing competition from other countries offering attractive programs to draw in foreign talent. For instance, nations like Singapore and several European countries have launched or enhanced digital nomad visas and other initiatives, providing more flexible work and residency options. This has led to a potential shift in interest away from Taiwan’s Gold Card program, as professionals explore these alternatives.

These factors severely impact the Economy and Science & Technology sector of gold card holders with them stagnating and even experiencing decline in the amount of holders.

Forecast and Future Outlook

Taiwan’s Employment Gold Card is likely to remain an attractive option for professionals in fields like technology, finance, and green energy, especially as the country anticipates a labor shortage of 350,000 workers by 2028. With a focus on AI and semiconductors, Taiwan’s push for innovation creates a strong demand for foreign talent.

However, Taiwan faces stiff competition from places like Singapore and South Korea, which offer similar talent programs. In response, Taiwan is rolling out new initiatives like the Global Elite Card and Digital Nomad Visa, aimed at making it easier for professionals to settle long-term.

Though housing costs and geopolitical concerns present some challenges, Taiwan’s continuous policy improvements position the Gold Card for steady growth as it looks to attract more international talent.

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References

• "Taiwan Gold Card Information" from Taiwan Gold Card Official Site.

• "Taiwan Employment Gold Card Portal" from National Immigration Agency.

• "Foreign Professionals Urged to Use Taiwan Gold Card Scheme" from Taiwan News.

• "Taiwan's Gold Card Scheme Sees Surge in Applicants" from Taiwan News.

• "Taiwan's New 'Employment Gold Card' to Attract Foreign Professionals" from Taiwan News.

• "Taiwan's Gold Card Scheme Overview" from European Chamber of Commerce Taiwan (ECCT).

• "Taiwan Gold Card Application FAQ" from Taiwan Gold Card FAQ.

• "Taiwan Gold Card Reaches New Milestones" from Taiwan News.