Frequently Asked Questions

Can foreigners legally buy property in Taiwan?

Yes, foreigners can legally buy property in Taiwan, however, it is subject to reciprocity rights. This means that Taiwanese citizens must be allowed to buy property in the foreigner's home country in order for the foreigner to buy property in Taiwan.

Do I need a special structure like a trust or corporation to buy property in Taiwan?

No, foreigners do not need a special structure like a trust or corporation to buy property in Taiwan. They can buy property directly under their name.

Do I own the property outright as a foreigner in Taiwan?

Yes, as a foreigner, if you buy a property in Taiwan, you own it outright. However, it's important to understand that land and buildings are sold separately in Taiwan. You may own the building but not necessarily the land it's built on.

What are the closing costs and taxes when buying property in Taiwan?

The closing costs and taxes when buying property in Taiwan typically include a deed tax of 1-3%, land value increment tax that ranges from 20-40%, and a notary fee if a notary is used.

Do I need to hire a lawyer when buying property in Taiwan?

While it is not required, it is highly recommended to hire a lawyer when buying property in Taiwan. A lawyer can help you understand the legal aspects of the purchase and ensure all documents are in order.

Can I get a mortgage in Taiwan as a foreigner?

Yes, foreigners can get a mortgage in Taiwan. However, the process can be more complicated than for local residents and may require a higher down payment.

Are there annual property taxes in Taiwan?

Yes, there are annual property taxes in Taiwan. The tax rate varies depending on the type and location of the property.

Can I rent out my property in Taiwan for income?

Yes, you can rent out your property in Taiwan for income. However, the rental income is subject to income tax.

Is the buying process safe and transparent in Taiwan?

Yes, the buying process is considered safe and transparent in Taiwan. However, it is advised to hire a lawyer or real estate professional to help navigate the process.

Do I get residency or visa benefits by buying property in Taiwan?

Buying property in Taiwan does not automatically grant residency or visa benefits. However, it may make it easier to apply for certain types of visas, such as an investment visa.