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Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan Print Share

To encourage Taiwanese companies abroad to return and invest in Taiwan, The Executive Yuan is promoting a three-year (2019-2021) “Action Plan for Welcoming Overseas Taiwanese Businesses to Return to Invest in Taiwan”. The Plan is oriented for the needs of homecoming enterprises, actively assisting Taiwanese companies to return to Taiwan by providing customized single-window service regarding land, water and electricity, manpower, taxation and capital. In turn, the Plan will drive the joint development of local industries and shape a complete industrial upstream, midstream and downstream supply chain, so as to nurture Taiwan’s future industrial competitiveness and boost economic growth momentum. The focus of the Plan is as follows:

 

1.Customized single-window service

The InvesTaiwan Service Center of the Ministry of Economic Affairs serves as the single-window service, providing dedicated customized service and shortening administrative procedures, and facilitating speedy returns. Contact information is as follows:
InvesTaiwan website: https://investtaiwan.nat.gov.tw/
Contact Us: (02)2311-2031
E-mail: service@invest.org.tw

 

2.Integrated implementation of five main strategies

The Plan integrates the resources of different ministries and implements five strategies of satisfying land acquisition, providing ample industrial human resources, facilitating swift access to financing, ensuring stable water and electricity supplies, and offering dedicated tax services. The strategies aim to attract outstanding Taiwanese companies to invest in Taiwan, to drive the joint development of Taiwan's local industries and build Taiwan into a global hub of industrial supply chain. The contents and contact information for the five strategies are as follows:
 

(1)Satisfying land acquisition
  • Providing rent concessions : Providing rent-free benefits for the first two years after a company sets up operations in industrial zones developed by the  Ministry of Economic Affairs.
  • Enhancing land use efficiency: In accordance with the Program for the three-dimensional Renewal Development of Urban Industrial Zone, the floor area ratio of existing urban planning zone will be increased to speed up the renewal and three-dimensional development of industrial zones.
  • Providing guidance for the plant expansion of registered business: Registered businesses who have plant expansion needs will be given guidance in accordance with existing regulations
  • Expanding industrial-use land: Expansion of science park industrial land will be promoted, and the establishment of  industrial parks by local governments is also encouraged with subsidies provided from the Forward-looking Infrastructure Development Program
  • Inventorying land supply: At present around 435 hectares of industrial land can be supplied immediately according to an inventory carried out by the Ministry of Economic Affairs and Ministry of Science and Technology; industrial land supply will be increased by an estimated 873 hectares from 2019 to 2021.

(2)Providing ample industrial human resources

  • Application principle: Priority will be given to promotion of domestic labor employment, supplemented by foreign workers.
  • Providing Reemployment Subsidy, Employers’ Hiring Subsidy and Award, and Cross-area Employment Allowances to assist labor find jobs and enterprises meet their needs for manpower.
  • In accordance with the existing mechanism, enterprises will be assisted to carry out internal transfers or recruitment of professional talent from China.
  • Foreign workers recruitment measures: When Taiwanese companies establish a new factory or expansion of an existing factory reach a certain scale, investment amount exceeds a certain level and the number of employees recruited  meets a certain threshold, they can apply prior-approval for the recruitment of foreign workers, which will be exempt from periodic inspections within one year; and the allocation rate for foreign workers can be increased a further 10%. However the overall rate should not exceed 40%.

(3)Facilitating swift access to financing

  • Allocated amount: NT$20 billion provided from the funds of banks.
  • Lending scope: Construction of factory and related facilities, purchase of equipment, and medium-term operating capital.
  • Lending rate: No higher than the postal savings fund listed two-year time deposit interest rate plus 0.5% annual floating interest.
  • Lending period: No longer than a maximum of 10 years (including a maximum of three years’grace period.) 

(4)Ensuring stable water and electricity supplies

  • Dedicated staff will assist in accelerating application of water use plan to ensure that the water needed for industrial investment is flawless; management work for various aspects of water resources construction will be actively carried out at the same time.
  • Through a single window and project control, the obtaining of electricity supply will be speeded up; generator unit operation and maintenance will also be strengthened to maintain a stable electricity supply.  

(5)Offering dedicated tax services

  • The Ministry of Finance’s taxation bureaus in each area will establish a contact window that will provide taxation regulation consultation for returning Taiwanese companies.
  • If the consultation cases involve the scope of individual case fact-finding, the National Taxation Bureaus will establish a dedicated task force for consultation with the companies and effectively clear up doubts about tax regulations.
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