With the continuous evolution of global technological development, collaboration and exchange in the high-tech industry have become increasingly close. The 2023 Global Business Forum on High-Tech Industries, organized by the Taiwanese Chamber of Commerce of North America (TCCNA), focuses on new links in visas, human resources, and taxation for U.S. investments. The aim is to bring together experts from various fields to share the latest global business information and to gain a macroscopic view of the importance of overseas business deployment. The forum also delves into issues such as taxation, visas, and human resources related to establishing operations in the United States. It aims to provide Taiwan's small and medium-sized enterprises preparing to expand overseas with firsthand professional information.
Prominent attendees at the forum included Mr. Sam Leng, Business Representative of the State of South Carolina Taiwan Office; Mr. Danny Chen, Managing Attorney of Green Maple Law Group; Ms. Cheli Liaw, Director of the Tax Division at Deloitte Taiwan; Mr. Chen Chin-hsing, Founder of Realtek Semiconductor Corp; Ms. Shu-Hua You, Deputy General Manager of OneDigital; Ms. Hsuang-Ling Tsai, Executive Director of the American Institute in Taiwan (AIT/Washington); Mr. Yang Wen-ke, Magistrate of Hsinchu County; Mr. Joey Chiang, President of the Taiwanese Chamber of Commerce of North America (TCCNA); Mr. Hsu, Chun-bin, Chief of the Taiwan Institute of Economic Research's International Affairs department; Dr. Edison Chen, Executive Director of the New Eastbound Alliance; Mr. Tony Hsu, Vice President of the Taiwanese Chamber of Commerce of North America (TCCNA); and Ms. Li-Ju Yang, Chairwoman of the Taiwan Affairs Committee of the Taiwanese Chamber of Commerce of North America (TCCNA).
The lively discussions held at the event provided the latest strategic evaluations for small and medium-sized enterprises considering U.S. investments. The forum particularly invited Dr. Edison Chen, Executive Director of the New Eastbound Alliance, to participate. Dr. Chen explained that in light of the three major global trends of carbon neutrality, intelligence, and supply chain restructuring, Taiwan's industrial growth over the next decade is expected to focus on the top five sectors, which include semiconductors, electric vehicles, sustainability (ESG), biotechnology, and space technology. Previously, Taiwan's tech industry primarily addressed issues posed by the United States. However, now Taiwan needs not only to address issues but also to propose them. In the future, if mature businesses invest in the United States and startups invest in Taiwan, aligning across supply chains, talent and technology, and capital and market aspects, it can create a win-win ecosystem for Taiwan and the U.S.
The "U.S.-Taiwan Initiative on 21st-Century Trade" is the most comprehensive trade agreement between Taiwan and the United States since 1979. Mr. Hsu, Chun-bin of the Taiwan Institute of Economic Research's International Affairs department noted that the significance of the "U.S.-Taiwan Initiative on 21st-Century Trade" lies in strengthening Taiwan-U.S. bilateral economic and trade cooperation, including the framework of the Technology Trade and Investment Cooperation (TTIC) and the Economic Prosperity Partnership Dialogue (EPPD), among others.
According to the U.S. "National Trade Estimate Report" Regarding the exchange of personnel, visas, and professional tax knowledge for U.S. investments, with regard to personnel management systems for establishing operations in the United States, Ms. Shu-Hua You, Deputy General Manager of OneDigital, provided insight into payroll, employee handbook creation, and employee benefit-related systems as the three key considerations.
Ms. Cheli Liaw, Director of the Tax Division at Deloitte Taiwan, analyzed the main points of the Taiwan-U.S. bilateral tax agreement proposal, including four major aspects: reducing withholding tax rates, defining permanent establishments, handling employment income, and determining Taiwan tax residents.
Mr. Danny Chen, Managing Attorney of Green Maple Law Group, suggested that Taiwanese entrepreneurs interested in developing businesses in the United States should make good use of the E2 Treaty Investor Visa program, as the speed of obtaining visas is crucial for establishing a presence in the United States. E2 visas can be directly processed at the American Institute in Taiwan (AIT), are valid for five years, are renewable, and allow family members to live in the U.S. concurrently. Spouses are also allowed to work. In recent years, the growth rate of individuals and businesses entering the U.S. through the E2 visa has reached as high as 746%."
This marks the first participation of the New Eastbound Alliance in an event organized by the Taiwanese Chambers of Commerce of North America (TCCNA), and it is anticipated that TCCNA will guide Taiwanese enterprises, especially SMEs, in their footsteps as they expand into the United States.
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