Alessandro Palombo

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.

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https://palombo.substack.com/

Thank you for reading!

For more posts and insights on the future of global citizenship, follow @thealepalombo

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