Singapore started up a tech.pass program this year, with a pretty straight forward eligibility and renewal requirements. 2 years initially with 2 years renewal.
Singapore taxes are much lower than Taiwan (no capital gain taxes, tax breaks for startups that just incorporated, more friendly corporation taxes). For high earners it’s actually much cheaper to live and work in Singapore despite higher costs of living. Anyone thinking of applying?
The tax exemption for startups are:
YA 2020 onwards
- 75% exemption on the first $100,000 of normal chargeable income*; and
- A further 50% exemption on the next $100,000 of normal chargeable income*.
Personal income tax in Singapore caps out at around 22% vs 40% in Taiwan
If you’ve tried to apply for the Entrepreneur visa or dealt with the immigration offices you’ll know that it’s a bureaucratic mess. I hope Taiwan keeps revising their tax/business incentives to attract more businesses from Hong Kong and Singapore, currently it is not very competitive to either countries so I’m not surprised they’re not coming to Taiwan en masse despite the HK situation.