This is Taiwan:
- 0% tax on foreign income
- Digital Nomad Visa launched in 2025
- Cost of living ~60% lower than Singapore
It's one of the safest and freest countries in the world.
Here are 7 reasons why “the beautiful island" should be on your radar:
First some history:
- Dutch and Spanish colonization in the 1600s
- Qing Dynasty rule (1683-1895)
- Japanese occupation (1895-1945)
- ROC government relocation in 1949
Understandable why it was named Ilha Formosa ("beautiful island"). Mr. History breaks down the early history: Today, it’s a thriving democracy and technological powerhouse despite complex geopolitical challenges.
- 15% of GDP comes from semiconductors
- 90% of the world’s advanced chips made there
- 10th largest stock market in the world
7 reasons why Taiwan deserves your attention:
1. Visa situation
There are 2 visas popular among expats in Taiwan.
Digital Nomad Visa:
- Introduced January 2025
- Up to 6 month; remote work only (employed internationally)
- Eligibility requirement - income thresholds varying by age
Great breakdown from @OffshoreInAsia:
Employment Gold Card:
- 1-3 years (renewable)
- Work freely as freelancer or entrepreneur (under specific conditions)
- Eligibility based on expertise in designated field or income over ~,600/mo
Taiwan is making efforts to attract global talent with a focus on key industries.
2. Tax advantages:
- 20% corporate tax (lower than Japan's 23.2% and Korea's 22%)
- Progressive personal income tax (5-40%)
- For certain foreign professionals foreign income may be exempt
Taiwan's somewhat "hybrid" tax system makes it a potentially attractive base in Asia.
3. Quality of life:
- Universal healthcare (ranked #3 globally for efficiency)
- Ultra-safe environment (crime rates lower than Japan)
- Cost of living up to 60% lower than Singapore & 20% lower than Japan
Many seem to love Taiwan for a safe and calm environment.
4. Cultural richness:
- 9 national parks covering ~9% of the island
- World renowned night market scene
- Fusion of Chinese, Japanese, and indigenous heritage
The food scene alone is worth the visit!
5. Strategic location:
- Shares working hours with major Asian markets and overlap with Europe and Australia.
- 90-minute flight to Hong Kong
- 2 hours to Shanghai, 2.5 hours to Tokyo, 4 hours to Singapore
Perfect base for business or exploration throughout Asia.
6. Tech ecosystem:
- Produces 90% of advanced semiconductors
- Heavily invested in startup initiatives e.g. Asian Silicon Valley Development plan
- Government incentives for tech entrepreneurs
Taiwan isn't just part of the tech supply chain, it IS the supply chain.
7. Current infrastructure and growth potential:
- World-class internet (average 200Mbps+)
- Smart city initiatives nationwide
- AI and biotechnology investment booms
Taiwan is positioning itself beyond manufacturing.
Challenges to consider:
- Language barrier can be an issue to navigate bureaucracy and daily life
- Limited job opportunities beyond key industries
- Median house prices are 16x higher than household income in major urban cities like Taipei
And of course the key challenge...
Strained geopolitical situation with China:
- Beijing insists on “One China” under its terms, rejecting Taiwan’s sovereignty
- Taiwan’s government upholds democracy and resists “one country, two systems”
A complex situation born from a complex history.
Who is Taiwan for?
- Digital nomads seeking high-quality Asian base
- Tech entrepreneurs leveraging Taiwan's tech prowess
- Investors eyeing the "Silicon Shield" advantage
Taiwan combines East Asian efficiency with remarkable openness and calmness.
Personally, I have many Taiwanese friends but have yet to go there.
It's admittedly one of those places I have never considered moving to, but I’d be very interested in learning more and visiting.
What are your experiences with Taiwan?
Have you lived/visited there?
P.S. Every week I post actionable tips and guides to my Substack on how to unlock financial freedom.
If you would like these sent straight to your inbox make sure to subscribe!
https://palombo.substack.com/
Thank you for reading!
For more posts and insights on the future of global citizenship, follow @thealepalombo
And repost this to share with your audience:
