A visa scheme allowing overseas entrepreneurs to set up shop in Taiwan is now underway, with the application process formally opened at the end of July.
On Thursday, a foreign ministry official explained that the new visa scheme is designed to make Taiwan into a center of entrepreneurial activity.
The official said that both foreign nationals and residents of Hong Kong and Macau will be eligible to apply for entrepreneur visas. Both individual entrepreneurs and groups can apply.
The new visa will allow entrepreneurs to stay in Taiwan for a year. After the first year, they can apply for a two-year extension. The government plans to issue 2000 entrepreneur visas a year.