Loans for foreign residents in Taiwan

I’ve been trying to get a personal loan recently and my understanding is now that foreigners are legally not permitted to receive personal loans here (this may not be correct it’s just what many repeated to me).
It doesn’t matter if you are a resident or not or if Taiwanese will act as guarantor.

I believe the only loans that they will permit are house loans (for purchasing houses in Taiwan only ) or company backed loans where the foreigner has opened a company here in Taiwan.

This is extremely frustrating given my own bank can’t give me a personal loan and I hold a significant amount of money there , my salary goes in there for years , I have a credit card from them and I work for a stable international company and they know my credit history.

The two categories that seem to be easiest to access personal loans are government workers and employees of listed companies in Taiwan .

Any foreign residents here have any success in getting personal loans here other than housing loans or company backed loans ?

By the way my spouse can even put up some collateral but it seems to make absolutely no difference due to the law or their present stance towards loans to foreigners.

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There is no law prohibiting foreigners from receiving any form of loan in Taiwan. Taiwanese banks will say any bullshit to get you out the door while not saying they just don’t want to loan to a foreigner.

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I also did not believe this statement however all banks that we inquired with, more than ten already, said sorry foreigners cannot get it,we are not permitted to give personal loans to foreigners.

They state it also online here

Can anybody locate this ‘law’ anywhere ?

Yeah. Foreigners cannot get it as per…I dont want to piss off boss by risking it. In many cases it’s not even company policy.

They claim it’s the law, I would like to locate this piece of legislation if it actually exists.

On this link they state '本國人、

You should ask them to quote the law to you when they say that.

They claim lots of things are the law here. I’ve never been to a more legal-illiterate society. They’ll say anything is the law if it is convenient for them. That’s how my last boss lost the battle when I sued him.

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They are lazy assed sales people on the phone. This is a first pass attempt and they all uttered the same thing.

In that case, don’t believe a word they say. Sounds like you need to pay a visit to your bank.

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Yep next step. I always hate that I have to argue with bank staff here. Sucks.

申辦銀行貸款
在臺有住所之外國人向銀行申請貸款,目前法令並沒有特別的限制規範,而是由各銀行依照自行的授信審核原則審核後決定是否同意貸放。
一般銀行受理客戶申請貸款,銀行會了解客戶的借款用途、信用狀況、收入情形及有無擔保品等因素後,再決定是否同意貸放,同時核定相關的貸款條件(詳情請逕洽各銀行)。

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Thank you Tando!

Terrible discrimination still against foreign residents.

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Let them put it in writing and then take that to the government.

If you don’t have an address in Taiwan, there is a regulation.

https://www.fsc.gov.tw/ch/home.jsp?id=96&parentpath=0,2&mcustomize=news_view.jsp&dataserno=201407240006&toolsflag=Y&dtable=News

銀行辦理在臺無住所外國人新臺幣授信業務要點
http://www.rootlaw.com.tw/LawContent.aspx?LawID=A040390041042600-1061229

銀行辦理在台無住所外國人新台幣放款業務要點

Thanks. But what do they mean by address in Taiwan?
I do have an address obviously as anybody with an ARC should have. Of course it is understandable to have more regulations for non resident foreigners.

yes, non resident foreigners. “you” in my previous post doesn’t refer to you.

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I tried about 5 banks for a small loan last year and was laughed out of each one

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There isn’t a law saying foreigners can’t get loans, but banks here sees foreigners as extreme risk so they don’t loan to foreigners.

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I presume banks are a bit reluctant to do subprime to filipino fishermen for the obvious flight risk , but if you got decent credit and not a fishermen it’s no problem at all.