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Chinese investors cannot immigrate to Taiwan: economics ministry
Central News Agency
2014-03-22 07:41 PM
Taipei, March 22 (CNA) The government does not allow Chinese nationals to immigrate to Taiwan based on investment, the Investment Commission under the Ministry of Economic Affairs said Saturday. The commission made the statement in response to a recent advertisement claiming that Chinese nationals can immigrate to Taiwan for a fee of 48,000 Chinese yuan (US$7,710) and enjoy benefits such as National Health Insurance coverage and 12-year state-funded education for their children. Dismissing the advertisement as a scam, the commission said Taiwan accepts investment-based immigration applications from foreign nationals but not from Chinese citizens. Chinese nationals who own real estate in Taiwan, meanwhile, are allowed to stay no more than four months per year in Taiwan, the commission said. Chinese companies with investment in Taiwan can assign a certain number of executives and technical staff to Taiwan but these employees can only obtain one-year multiple exit/re-entry permits that would be renewable in the second year if their company achieves sales of NT$10 million, the commission said. As of the end of January, Chinese companies had had 495 investment projects worth a total of US$879 million in Taiwan, it said. There were 264 executive and technical staff and family members of Chinese nationality in Taiwan, it added. As of the end of December last year, there were 9,624 Taiwan workers employed in Chinese-invested companies in Taiwan, according to statistics from the Ministry of Labor. On concerns that allowing Chinese nationals to buy real estate in Taiwan would cause an escalation of Taiwan's already exorbitant property prices, the Ministry of the Interior (MOI) said Saturday that the government has imposed strict restrictions on such purchases. First of all, such purchases would have to be jointly screened by the Interior Ministry, the Mainland Affairs Council, the Ministry of National Defense and the National Security Bureau and could only be made based on residential or business needs, the MOI said. To prevent housing speculation, resale of the properties would be permitted only after three years of ownership, the ministry said. (By Huang Chiao-wen and Y.F. Low)
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