Why are Hongkongers moving to Taiwan? Cheaper real estate, more space – and citizenship by investment for just US$200,000

Sep 1 , 2020

The world's sixth-tallest building, the 509-metre Taipei 101, is one of Taipei's top landmarks and tourist attractions. Photo: EPA-EFE

Obtaining a ‘golden passport’ in Taiwan is second only to the Caribbean for cost and ease, according to experts, with more Hongkongers and expats looking for a second home – enticed by cultural familiarity and sound real estate investment opportunities in the neighbouring self-governed island

Hongkongers have long enjoyed visiting Taiwan, but since last year, more have been considering making a permanent move.

Immigration specialist Pamir Law Group, along with property search platform www.spacious.hk and local property agents, all report increasing inquiries, starting around the middle of 2019.

Nouvelle Beauté Villa, a mountain view luxury residence in Shilin District, Taipei City. Photo: Sotheby’s International Realty, Taiwan

Nicholas V. Chen, managing partner at Pamir, a boutique legal and business consulting firm with offices in Taipei and Shanghai, reports a “sharp increase” in visa applications from Hong Kong residents in the second half of 2019. He believes this was mainly due to uncertainty about the city‘s future in the wake of months of social unrest – fuelled further in recent months since the introduction of the city’s national security law.

“Interest remains high”, he says of the situation today, “however actual applications have decreased due to new, stricter requirements established in early 2020.”

Pamir Law focuses on the investment immigration route to citizenship (or a “golden passport”), which Chen describes as one of the most attractive of such schemes outside the Caribbean.

It requires an investment of NT$6 million (US$204,000) into a new or existing company that creates two full-time jobs for Taiwanese people.

Nouvelle Beauté Villa, a luxury residence of three-bedrooms, two bathrooms and two living areas in Shilin District, Taipei City. Photo: Sotheby’s International Realty, Taiwan

“After obtaining foreign investment approval, the investor and their family are granted residence and can relocate to Taiwan,” he said. “After the investor meets a residence requirement (either one or two years depending on how many days they live in Taiwan), they are able to apply for an ID and passport, which are confirmed after the company shows the required jobs have been maintained for three years.”

Other routes to residency include niche visas such as the entrepreneur visa and employment gold card (which have more stringent requirements), and a classification for Hong Kong residents who already hold a second passport.

Real estate affordability is one of the main reasons Taiwan is an attractive destination for Hong Kong investors, Chen says.