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Worldwide Assistance
Moving to Taiwan
WHAT YOU NEED TO KNOW
Our wealth management specialists in our International Banking Centre can answer your questions about banking in Taiwan and discuss the financial services you will need to make the most of your time in Taiwan.
Find out about Taiwan culture, visa entry requirements and other useful local information.
HOW CAN WE HELP YOU
Background Fast facts
Area: 36,000 square kilometers
Population: 23
Capital:Taipei City
Language:Mandarin/Taiwanese/Hakka/Indigenous Languages
Religion: Buddhism/Taoism/Christian/Islam/Catholicism
Location:
Taiwan's total land area is only approximately 36,000 square kilometers; it is shaped like a tobacco leaf that is narrow at both ends. It lies off the southeastern coast of mainland Asia, across the Taiwan Straits from Mainland China-- a solitary island on the western edge of the Pacific Ocean. To the north lies Japan and Okinawa, to the south is the Philippines. Many airlines fly to Taiwan, helping make it the perfect travel destination.
Climate:
Taipei is generally humid. Its subtropical climate contrasts distinctly with its winter season, when temperatures average 15C. The thermometer rises to 32C in summer, which is also the wettest time of the year. Expect typhoons any time between June and October.
Traditional Festivals:
The four day long Chinese New Year takes place in January or February and is one of the most important festivals of the year. Other festivals include the Dragon Boat Festival and the Mid-Autumn Festival, when special traditions and celebrations take place.
Local information
Transportation:
All major cities are connected by rail. The island's road network hinges on a north-south freeway and domestic air services connect most cities.
All major cities in Taiwan have a reasonably priced and vast public transport system which includes railways, MRT (Mass Rapid Transit system) , buses and taxis, covering all parts of the city. Additionally, the high-speed bullet train service is now available between major cities in Taiwan.
Driving license:
Foreign nationals may drive legally in Taiwan on international drivers' licenses. Home country licenses are not acceptable. License reciprocity with most countries has been agreed. Expatriates holding Alien Resident Certificates (ARCs) may obtain local driving licenses.
Banking hours:
9:00am to 3:30pm Monday to Friday. ATMs are available in convenient locations throughout the country. All the major credit cards and travellers cheques are accepted in large institutions and an ever-growing number of shops and restaurants.
Electricity:
Taiwan uses an electric current of 110 volts at 60 cycles. Appliances from Europe, Australia or South-East Asia will need an adaptor or transformer. Some buildings have sockets with 220 volts installed especially for airconditioners.
Communication:
- Post: Post offices are generally open 8:00am to 5:00pm, Monday to Saturday. The inland postal service is efficient, inexpensive, and reliable with 1-2 day delivery. International delivery by airmail to/from North America and Europe takes 7-10 days.
- Telecommunications: The local telephone system is automatic and reliable. Direct dialing is possible between all major cities in Taiwan. Mobile/cellular phones are available on GSM 900 and 1800 networks.
- Internet: Taiwan is one of the most connected countries in the world, with most hotels, homes, schools, and offices having access to broadband connection. Restaurants and cafes with wireless Internet access can be easily found in the business and shopping districts.
Currency unit:
The unit of currency is the new Taiwan dollar (TWD). The following denominations are in circulation:
- Notes: NT$ 100,200,500,1,000 and 2,000
- Coins: NT$ 1,5,10,and 50
Tipping:
Tipping is not customary in most places in Taiwan. The one exception is tipping the bellboy when you check into a hotel.
Visas
Tourist Visa:
Foreign nationals may obtain tourist visas if they hold foreign passports or travel documents valid for more than six months in Taiwan for purposes of sightseeing, business, family visits, study or training, medical treatment or other legitimate activities. Visa requirements include one completed application form, incoming and outgoing travel tickets, two passport-size photos in colour taken within the last 6 months, evidence of funds, passport and documents verifying the purpose of the visit.
The Visitor Visa Application Form can be downloaded from the website of the Bureau of Consular Affairs, Ministry of Foreign Affairs. The completed form should be submitted to an overseas mission of the Republic of China for visa issuance.
30-day visa-free privileges are afforded to citizens of 31 countries and 30-day landing visas are afforded to citizens of 3 countries. For any further information, please visit the website of the Bureau of Consular Affairs, Ministry of Foreign Affairs. For any further questions about visa application, please contact: post@boca.gov.tw
Resident Visa:
Foreign nationals who hold ordinary passports or other legal travel documents and intend to stay in Taiwan for more than six months for the purpose of joining family, pursuing studies, accepting employment, making investments, doing missionary work or engaging in other permissible activities are eligible to apply for a resident visa.
Resident Visa holders are required to apply for an Alien Resident Certificate at the local office of Ministry of Interior National Immigration Agency within 15 days of their arrival. They may stay in Taiwan as long as the Alien Resident Certificate remains valid.
For more detailed information on entry and visa requirements for expatriates, please visit the website of the Bureau of Consular Affairs, Ministry of Foreign Affairs.
Taxation
Personal Income Tax:
Both residents and non-residents are taxed on all their Taiwan-sourced income. Non-residents are taxed at a flat rate of 20%. Residents are taxed at the progressive rates which range from 6% to 40%.
Commodity tax:
Companies must pay a commodity tax on the value of the manufactured and imported products sold on the domestic market. Commodity tax must be paid on products falling into the following seven categories: rubber tyres, cement, beverages, oil and gas, electric appliances, flat glass and automotive products. The tax rate ranges from 8% to 60% and is levied ad valorem.
Value added tax:
Value added tax (VAT) is levied on the importation of goods, foreign provided services and the sale of goods and services within Taiwan. By law, the general VAT rate ranges from 5% to 10%
For more detailed information on taxation , please visit the website of The Taxation and Tariff Committee, Ministry of Finance.
Healthcare
Medical care in Taiwan is of an international standard.
A National Health Insurance programme has been introduced and the programme covers all the population residing in Taiwan. Foreigners working in Taiwan are entitled to cover provided they hold valid Alien Resident certificate (ARC) and are employed by registered employers. Dependants with an ARC are also covered.
Several city hospitals offer well-equipped emergency services and some hospitals have English speaking staff members and are therefore popular with the expatriate community.
Education
The current education system in Taiwan is comprised of the following components: basic education, intermediate education, advanced education and returning education. Basic education includes kindergarten, national primary and national middle schools. Intermediate education includes vocational schools and senior high schools. Advanced education includes junior colleges, universities and graduate schools. Returning education refers to schools for continuing education and supplementary schools. In addition to the above, complete special education is provided by all levels of schools for students with physical and mental disabilities.
Taiwan has for many years been home to numerous institutions devoted to the study of the Chinese Language. Perhaps this is one reason why the number of foreign students coming to Taiwan for all levels of language study has been increasing for so long. For more detailed information on education, please visit the website of Ministry of Education.
Accommodation
Whether you are here for a brief visit or staying for a longer period of time,Taiwan offers a wide variety of accommodation to suit your needs.
Short stays: Taiwan provides a wide variety of choices for short-term accommodation. Most of the hotels are located in the heart of the city or near the business districts for your convenience.
Long Term housing: There are a multitude of private apartments, condominiums or houses available for rent or purchase. If you wish to buy a home in Taiwan and satisfy our qualification criteria HSBC can help you find the right home loan for your needs. Visit our mortgage loan information page.
Pets
Pets maybe brought into the country. However, a variable period of quarantine will be required after which the animal should be kept under continuous supervision on the owners premises for a period of six months.
The following documents will be required: copy of importer's residence certificate, import permit, work certificate, copy of importer's passport, letter stating animal is not for sale or profit, six colour photographs of the animal, Rabies vaccination certificate certified by Agricultural Bureau of state (administered 30 days before the flight, but no more than 180 days prior to departure), application form to Bureau of Commodity Inspection and Quarantine (issued by owner's company in Taiwan) and the original health certificate, certified by the overseas veterinary authority and the Agricultural Bureau of State (issued by a licensed veterinarian in the owner's home country and stating the animal's species, breed, age and sex.)
Banking services
HSBC Taiwan has 8 branches island wide and our ATM cards give you access to your account via all ATMs throughout Taiwan and over one million ATMs worldwide.
Our electronic banking channels include our 24-hour Phone Banking services and Internet banking services via online@hsbc. HSBC's range of personal savings and time deposit accounts allow you to find the best way to manage your money. In addition the HSBC Premier account entitles you to an exclusive fee free HSBC Premier Credit Card.
HSBC Premier:
World-class wealth management services, offering an integrated account, personal attention through your own Premier Relationship Manager and HSBC Premier support team, plus global benefits and privileges.
If you are a Premier customer in your home country, you will also be accorded Premier status in Taiwan, which means that you receive the same privileges given to Premier customers in Taiwan, this includes having a Relationship Manager assigned to you to take care of all your local financial needs. You will also have access to oureight Premier Centreslocated across Taiwan.
Whether you are an existing Premier customer or are interested in becoming a Premier customer, visit our Premier website to find out more.
HSBC Premier Credit Card:
The HSBC Premier Credit Card is exclusive to HSBC Premier customers with a range of rewards to suit your individual preferences and needs. Foreign nationals and non-Taiwan residents are required to apply for Alien Resident Certificate (ARCs) before they can obtain local credit cards. More
International Banking Centre Service:
The HSBC Taiwan International Banking Centre is set up especially to help expatriates and international customers who have financial needs in more than one country. Our International Banking representatives are dedicated to helping our international customers make the most of our global network and manage their financial needs wherever they are in the world. For more detailed information, please contact our local International Banking Centre at +8862 8252 5906, or +8862 8252 5918.
Mortgage services
HSBC's diverse range of credit products can help you to meet your financial needs. From long term borrowing, to short term borrowing for unexpected financial emergencies, HSBC loans provide you with the financial freedom you require. When you become an HSBC Premier customer, you can also benefit from our professional financial services such as financial planning, cash management, credit card and mortgages. More
Note: If the applicant applying for a TWD loan is a foreigner (including overseas Chinese) without an Alien Resident Certificate (ARC), the loan is limited to secured lending only and the purpose of the loan is limited to real estate investment.
Insurance Services*
Being new to Taiwan you will no doubt want to make sure that your family and assets are fully protected during your stay in Taiwan. We offer a range of comprehensive policies to protect every aspect of your life from Travel Insurance and Domestic Helper Home Insurance, to a wide range of life and health protection options to meet your individual and family needs. More
Investment Services
Optimise your wealth potential and build a balanced investment portfolio with HSBC's wealth of investment services.
Foreign currency time deposits:
Available in 11 major currencies and various tenors, our foreign currency time deposits offer attractive interest rates to help your money grow. Available currencies include USD, EUR, AUD, CAD, CHF, GBP, HKD, NZD, SEK, SGD, and JPY.
Unit trusts:
HSBC offers a choice of more than 300 funds with various asset classes that are managed by internationally renowned fund houses. This allows you to choose the facilities best suited to your financial goals, and to adapt your portfolio with ease, if your needs change. More
Note: For investment in overseas securities through Non-Discretionary Money Trust, the investor must by law have certain qualifications (i.e. Foreigners must have an Alien Resident Certificate (ARC)). The investor must not be a US citizen or resident and must not hold a US residence permit, nor be qualified under Rule S of the United States Securities Act of 1933.
Structured Products:
We offer a range of advanced investment tools linked to different underlying assets such as interest rate, currency, index and stocks that provide the potential for greater return on your investment. Starting with just USD10,000, you can choose from various choices with flexible tenor ranging from 1 week to 10 years. More
Bonds:
Generally considered a medium to long-term investment vehicle, bonds can help to provide a regular income through the interest paid on the bond during its life, as well as the possibility of capital gains. They are a good means of preserving and increasing your capital.
Note: For investment in overseas securities through Non-Discretionary Money Trust, the investor must by law have certain qualifications (i.e. Foreigners must have an Alien Resident Certificate (ARC)). The investor must not be a US citizen or resident and must not hold a US residence permit, nor be qualified under Rule S of the United States Securities Act of 1933.
Exchange Traded Funds:
HSBC offers a wide range of ETFs based on different indexes. We can help you identify the ones that best meet your goals. More
The price of units or shares and the income from them may go down as well as up and any past performance figures shown are not indicative of future performance.
Financial planning
Your financial goals and expectations are as unique as you are. To achieve a financial plan based on your risk profile and investment horizon, we can help you establish a portfolio of investments and ensure it stays current and relevant to you.
Disclaimer: Investment involves risks. You should carefully consider whether any investment products or services are appropriate for you in view of your investment experience, objective, financial resources and relevant circumstances. Investors should refer to the individual product explanatory memorandum or offering document for further details and risks involved.
Nothing on the above website should be construed as an offer to sell, a solicitation of an offer to buy or a recommendation for subscription of any investment product.
Disclaimer:
For Premier Account, a minimum of TWD 3 million average monthly balance is required. If the Bank's requirement for minimum average balance is not maintained, the Bank shall have the right to collect the account administration charge of TWD 1,000 per month, prescribed by the Bank.
This web page only indicates selective privilege and services offered, and shall only be used as a general guide for reference.Please refer to the "Customer Guide" for detailed information. Benefits and features may be subject to local country regulatory restrictions.
