A foreign entrepreneur (including those from Hong Kong and Macau) who desires to do business in Taiwan may consider applying for an Entrepreneur Visa in Taiwan.[1]  Taiwan launched an Entrepreneur Visa initiative introducing the new Entrepreneur Visa in 2015 to attract foreign entrepreneurs to come to Taiwan, and establish and develop entrepreneurial ventures in Taiwan.[2]  Since the introduction of this new Entrepreneur Visa, various talented, bright foreign entrepreneurs have been benefited from obtaining an Entrepreneur Visa in Taiwan.[3]
 
I.  Benefits
 
There are several benefits for a foreign entrepreneur to obtain an Entrepreneur Visa.  First, an Entrepreneur Visa does not require an applicant to establish a new business in Taiwan prior to submitting an Entrepreneur Visa application.[4]  Moreover, an Entrepreneur Visa application submitted by an entrepreneur team (a group or team applicant) may request up to three Entrepreneur Visas for three foreign individuals.[5]  A foreign entrepreneur who has obtained an Entrepreneur Visa enjoys the benefit of a one-year residency in Taiwan with unlimited entry.[6]  In addition, the duration of an Entrepreneur Visa may be extended, up to two years each time, without requiring an Entrepreneur Visa holder to leave Taiwan.[7] 
 
II.  Criteria
 
According to the Examination Directions of Entrepreneur Visa Qualification for Foreign Nationals,[8] a foreign individual applying for an Entrepreneur Visa in Taiwan must meet at least one of the following criteria: (a) “[t]he applicant has secured investment from a domestic or overseas venture capital enterprise, or obtained funding of at least NT$2 million from a government-approved international fund-raising platform;” (b) “[t]he applicant has received approval to reside at a central or local government-approved international innovation park, or in an incubator facility that is approved by central or local government and is either directly run by the [Ministry of Economic Affairs (MOEA)], operated in collaboration with the MOEA, or has been rated by the MOEA as a first-class incubator facility within the past three years, or other incubator facility that is approved by the authority;” (c) “[t]he applicant has been awarded a patent either in Taiwan or overseas, or can demonstrate other evidence of professional expertise;” (d) “[t]he applicant has won an award in a leading domestic or overseas business start-up or design competition, or has received approval to the project of encouraging overseas entrepreneurs to invest in Taiwan from government;” (e) “[t]he applicant has  been, or is currently, located in a startup accelerator facility approved by the central competent authority;” (f) “[t]he applicant has ever been shortlisted or awarded in significant domestic or foreign film festivals;” (g) “[t]he applicant has ever been granted above NT$3 million subvention for startup or related project by central government, or has ever been granted above NT$1 million subvention for startup or related  project by local government;” (h) “[t]he applicant possesses such other innovation capability as may be specified or recommended by the central competent authority;” or (i) “[t]he applicant has already established an enterprise with the amount of investment at least NT$1 million in Taiwan that meets the official criteria for designation as a business start-up with innovation capability, and been serving as the legal representative, manager or director of that enterprise.”[9] 
 
On the other hand, a group or team applicant must meet one of the following criteria: (a) “[t]he applicant who has not yet established an enterprise in Taiwan shall meet at least one of Items a, b, c, d, e, f, g, h . . . above;” or (b) “[f]or the applicant who has already established an enterprise in Taiwan that meets the official criteria for designation as a business start-up with innovation capability, the members of the team or group shall be serving as legal representative, executive officers or managers of the enterprise, and the members of the team or group shall have invested a combined total of at least NT$1 million in the enterprise.”[10]