There are too many insights from the information shared by our speakers to be captured in this posting, so be sure to watch the recording to get the full benefit.
- Both Japan and Taiwan are focused on attracting foreign talent.
Taiwan aims to increase its skilled workforce by hundreds of thousands over the next decade and is working on initiatives to make the country more attractive to foreign talent.
Taiwan launched the Employment Gold Card. This card offers flexibility for foreign workers in Taiwan. Unlike traditional work permits tied to companies, Gold Card holders can work for any employer and enjoy tax benefits. The number of Gold Card holders is around 10,000.
In Japan, special asset Management zones will be announced in four areas. Plans include supporting English translation and administrative procedures for establishing companies with the support of local governments.
Japan has a new resident card called the Specific Resident Card. This card will combine the functions of the current resident card and the My Number card for Japanese and foreign nationals.
- Most central Tokyo leases (70%) are now held by Japanese residents, especially for long-term unfurnished apartments (80%). Tenant selection can be non-transparent, with processes like sealed bids giving landlords significant control.
- High-end rental prices for expatriates in Taiwan are increasing by around 10% annually. Due to demand, rental availability is tight in Taipei and Taichung, while Kaohsiung has more availability thanks to newer projects.
Tier 1 international schools in Taipei and Taichung have limited availability due to high demand, with waiting lists common for specific grade levels. Southern Taiwan has more availability, with Kaohsiung American School recently doubling its capacity. Expat families are encouraged to apply early and have backup options for schooling.
Japanese International schools are limiting third-party involvement in applications, and the high enrollment of Japanese students has reduced availability for expatriates. COVID-19 has worsened teacher recruitment challenges, mainly due to the weak yen, affecting staffing and educational quality.
Both Japan and Taiwan have seen falling cost-of-living indices despite inflation, mainly due to the weakening of their respective currencies (Yen and New Taiwan Dollar). This makes goods and services relatively cheaper for expatriates earning in stronger currencies like the USD.
