When is a foreign bank not a foreign bank? Answer: When it establishes a domestic subsidiary. Between 2007 and 2013, five leading international banks – Standard Chartered, Citi, HSBC, DBS, and ANZ – received approval from the financial authorities to expand their presence in Taiwan’s retail banking market by taking over the operations of local…

New York regulators’ fining of Mega Bank last year for lax compliance practices was a wake-up call. In a victory for the nation’s regulators, Taiwan in July was removed from a regional list of countries judged to have insufficient money-laundering controls. Taiwan had spent months revising legislation and pushing its financial institutions to crack down…

Exposure declines in China, though it remains an important market for serving Taiwanese SMEs. Taiwan has long suffered from a saturated domestic banking market, prompting its banks to foray abroad for new business opportunities. Under the administration of former President Ma Ying-jeou, banks took advantage of the cross-Strait detente to open numerous branches in China….

The proposed new legislation would make tax and other incentives available to international talent.    To remedy the serious brain drain in Taiwan and counter aggressive talent poaching by neighboring countries, the government has proposed legislation to help attract and retain foreign white-collar workers. The main provisions would relax current restrictions on the hiring of…

As part-time or short-term jobs become more common, Taiwan is considering legislation to regulate non-conventional employment. In Taiwan, as elsewhere across the globe, freelance and contingent work is on the rise as businesses shift their employment models away from the 9-to-5 jobs that have traditionally dominated labor markets. As of May 2016, according to survey…

Human Resource executives are increasingly expected to be a key part of their companies’ overall strategic planning and policymaking.    The responsibilities of human resources managers have been evolving for some time, gradually shifting from a merely administrative function to a far more strategic business role. While traditional human resource management focuses on recruiting and…