🥸 Can foreigners own property in Taiwan?

Yes, foreigners can own property in Taiwan, but there are specific rules and restrictions depending on the type of property and the buyer’s residency status. Here’s a detailed breakdown:

1. Types of properties foreigners can buy

Foreigners can purchase:

• Residential apartments (condominiums) in urban areas
• Commercial properties (offices, shops, ect.)
• Industrial properties (factories, ect.)

2. Restrictions and requirements

A. Land Purchases

• Prohibited for most foreigners:
  • Buying land (not buildings) requires approval from the Ministry of the Interior (MOI)
  • Approval is rare unless the buyer:
    • Has long-term residency (ARC with valid visa status)
    • Can demonstrate a significant investment in Taiwan (establishing a business, etc.)

B. Apartments/Buildings

• Generally allowed for foreigners:
  • No prior approval needed for residential or commercial buildings
  • Must submit documents to verify identity and legal residency

C. Visa Requirements

• Valid visa status:
  • You must hold a valid visa (work, student, or family unification visa)
  • Tourist visas typically disqualify you from property purchases

3. Required Documents

Foreigners must provide:

• Valid passport and Alien Resident Certificate (ARC)
• Proof of income (tax forms, bank statements)
• Purpose of purchase: Documentation showing the property is for residential or business use, not speculation

4. Legal and financial steps

1. Ministry of the Interior Approval (if buying land):
   • Submit an application with:
     • Proof of identity and residency
     • Financial capability and purpose of purchase
2. Tax Payments:
   • Deed tax: 1–4% of the property price
   • Stamp duty and registration fees for transferring ownership
3. Mortgage Options:
   • Foreigners may face stricter loan terms or need a local guarantor

5. Key considerations

• Long-term residency: Property ownership is easier if you plan to stay in Taiwan indefinitely
• Local representation: Hire a bilingual lawyer or real estate agent to navigate legal requirements
• Exit strategy: Selling property later may require similar approvals, especially for land

6. Special cases

• Spouses of Taiwanese Nationals:
  • Easier to purchase land with spousal visa and proof of marriage
• Foreign Companies:
  • Can own commercial/industrial properties but must comply with foreign investment laws

7. Risks and challenges

• Complex bureaucracy: More paperwork and approvals compared to local buyers
• Market fluctuations: Property values can rise or fall, affecting resale value
• Legal disputes: Ensure all contracts are legally reviewed to avoid conflicts

Final tips

• Consult professionals: Work with lawyers and agents experienced in foreign property purchases
• Plan ahead: Start the approval process early to avoid delays

In summary, while foreigners can own property in Taiwan, it requires careful planning and adherence to specific regulations.