The Requirement Lowered for Foreign-Invested Enterprises Employing Foreign Executives.

In an effort to encourage foreign investment in Taiwan, the Council of Labor Affairs Executive Yuan broaden the turnover standard for foreign-invested enterprises to employ foreign white-collar executives, from the current 10 millions per year on average decreasing to 5 millions per year. However, foreign-invested enterprises established within one year are not limited by the standard. The standard will be sent to the Executive Yuan for approval after examining by the committee conference and will be enforced next year at the earliest.

 

The current requirements for employing foreign executives are as follows: (1) the foreign-invested enterprises shall be established for more than one year and the average turnover shall exceed NT$10,000,000 during the most recent year or the most recent three years; (2) the average import and export performance during the most recent year or the most recent three years shall exceed USD1,000,000; (3) the average agency commission shall exceed USD400,000.

 

The requirements for employing the white-collar executives will be lowered to: (1) enterprises established for more than one year and the average turnover during the most recent year or the most recent three years shall amount to 5-folds of the capital or exceed NT$5,000,000; (2) the total amount of import and export performance shall exceed USD500,000; or (3) the agency commission shall exceed USD200,000. (2004.12)

CYJ/CHA