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Hire in Taiwan

Updated on:
16 Jan, 2024
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Annually
Pay monthly at a discounted rate with a 12-month commitment
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$
399
/month
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EOR in 
Taiwan
Monthly
$
449
/month
(billed annually)
Annually
Pay monthly at a discounted rate with a 12-month commitment
$
399
/month
(billed monthly)
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Overview of Taiwan

The rapid growth of Taiwan in the industrial sector is said to be a 'Taiwan miracle.' Taiwan stands amongst the four most developed and rich countries of Asia, South Korea, Hong Kong, and Singapore being the other three. It has good trade relations with Indonesia, Thailand, Malaysia, the Philippines, India, and Vietnam. Taiwan has a capitalist economy that works on free-market principles. Based on PPP GDP, Taiwan is the 7th largest economy in Asia and 20th largest economy in the world.

Total population – 23,938,323 people

GDP – US $24.56 billion (expected to grow by 3.02% in 2024)

Economic Overview

Taiwan has an export-driven economy. Their GDP has shown a rise of over 8 percent in the past three decades. It has a PPP GDP of US $0.050 trillion (NT 1.403 trillion) and thus a per capita income of US $2,049.29 (NT 56,959). Taiwan's nominal GDP is less than its PPP GDP. The nominal GDP of Taiwan is estimated to be US $24.56 billion (NT 682.702 billion) in 2021, with per capita income of US $1,155.73 (NT US $32,123). 

Market size 

The market of Taiwan is mainly driven by the electronics and telecommunication sector. In this sector, it is the most technologically advanced nation in the world, especially in developing microchips. The public sector in Taiwan is the major earning sector comprising industries like energy, agriculture, information technology, steel, semiconductor industry, maritime industry, manufacturing, etc.

A brief glimpse of the industries

  • The semiconductor industry in Taiwan is a subpart of the information technology industry. Manufacturing, packaging, and design are the main areas where Taiwan offers opportunities. The semiconductor industry has seen a boost in 2020 as the lockdown of COVID-19 increased the need for electronics.
  • The Information Technology (IT) industry emerged in the 1960s in Taiwan. Ever since then, this industry has seen steady growth. The pandemic of COVID-19 has given anything but a boost as the demand to supply ratio increased in the market.
  • The agricultural industry in Taiwan has been the foundation of Taiwan's economic growth. This industry contributes 3 percent to the GDP of the nation. In 2020-21, agriculture was slowed due to the restrictions imposed, which resulted in less production than the previous years. But now, as the restrictions are lifted, Taiwan is all set to increase its agricultural productivity.

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Cost of living in Taiwan

The cost of living in Taiwan is very affordable as compared to the metro cities of the USA. The housing facilities have higher rates than any other utilities, including food. Food is very cheap, and a number of fast-food options are available for workers and students. 

Category Area of expense Estimated cost Range
Utilities Electricity, Water, Heating, Internet services, Prepaid mobile tariff US $107.66 (NT 2,992.33) US $71.96 to US $201.48 (NT 2,000 to NT 5,600)
Rental rates

Apartment (1 room) in city and outside city,



Apartment (2-3 rooms) In the city and outside the city.

US $397.37 (NT 11,044.83)


US $945.31 (NT 26,274.37)

US $179.89 to US $935.44 (NT 5,000 to NT 26,000)


US $503.70 to US $2,158.70 (NT 14,000 to NT 60,000)

Transportation Cost One way ticket local transport, Taxi tariff, Gasoline. US $46.05 (NT 1,280.00) US $35.98 to US $57.57 (NT 1,000 to NT 1,600)
Food and Beverage Grocery, Vegetables, Meat and Poultry US $85.30 (NT 2,370.96) US $71.96 to US $143.91 (NT 2,000 to NT 4,000)
Salaries and Financing

Average monthly net salary

US $1,442.38 (NT 40,090.29)

US $719.57 to US $2,878.27 (NT 20,000 to NT 80,000)


Cost of Renting

The cost of renting is high in Taiwan. Your location matters very much when it comes to housing. The rent cost varies depending on the area of your house, location and locality of the house, amenities, and facilities available, etc.

Cost of living depending upon your location 

The cost of living has increased ever since the pandemic of COVID-19. Investment in healthcare and sanitization has seen the most increase. Depending on your location, the availability and cost of utilities vary. Metro cities have high living costs as compared to rural cities. 

  • Cities categorized as Tier 1 cities are metropolitan cities like Taipei, Hsinchu, Taoyuan, etc.
  • Cities categorized as Tier 2 cities are upcoming centers like Keelung, Taichung, etc.
  • Cities categorized as Tier 3 cities are locations with notable growth potential like Miaoli, Yilan, etc.

Mentioned below are details regarding the cost of living in the leading Tier 1 and Tier 2 cities of Taiwan.

Cities (Cost of living) TWD (Cost of living) USD
Taipei NT 23,929.85 US $860.96
Hsinchu NT 24,313.80 US $874.77
Taichung NT 21,997.80 US $791.44

The top sectors that are expected to hire in 2024 in Taiwan are: -

S. No Top Industries looking to hire Increment in employment in 2021
1. Technology 8%
2. Sales 4%
3. Finance & Accounting 6%
4. Marketing 8%
5. Supply Chain & Logistics 3%
6. Industrial & Manufacturing 9%
7. Healthcare & Life Sciences 14%
8. Consumer 10%
9. Renewable Energy 7%
10. Professional Services 5%

Top skills in Taiwan

The market in Taiwan is highly dominated by the semiconductor industry and information technology sector. Taiwan is always looking for skilled individuals and highly qualified professionals to serve the constant responsibilities. 

Major skills and areas which have witnessed a recent growth rate 

  • Information Technology
  • Renewable Energy
  • E-commerce
  • Healthcare

Top skills city-wise occupation-wise

The cities in Taiwan are classified into three broad administrative units viz. special municipality, city, and county-administered city. The available job opportunities greatly depend on which category your work city falls. 

  • Taipei – Taipei being the center of all the import-export trade, has numerous opportunities in sales, business development, business administration, management, marketing, operations, etc. This city has beautiful landscapes and holds to be a perfect location for individuals as well as families.
  • Taichung – Taichung has numerous information technology and semiconductor industries. There are budding startups coming up every while. There is no shortage of technical and information technology jobs in Taichung.

Hiring Cost

The cost of hiring is an important expense for a company. A company/industry/sector must spend a certain amount in fulfilling the available positions. These cost account for the following factors: –

  • Opportunity costs
  • Advertisement costs
  • Time
  • Shortlisting and interview process
  • The lending of personnel for interview

Salary structure for various roles 

The table below highlights the average salaries that are offered to employees in Taiwan according to different sectors: - 

Business Sector Average Annual Salary
Education and Training US $2,158.70 (NT 60,000)
Wholesale Trade US $5,108.92 (NT 142,000)
Financial and Insurance Services US $41,724.48 (NT 1,159,711)
Information Media and Telecommunications US $27,661.26 (NT 768,831)
Construction US $23,811.47 (NT 661,828)
Manufacturing US $18,031.37 (NT 501,173)
Professional, Scientific and Technical Services US $41,249.31 (NT 1,146,504)
Transport, Postal, Warehousing US $18,439.04 (NT 512,504)
Accommodation, Cafes and Restaurants US $3,108.53 (NT 86,400)
Administrative and Support Services US $47,302.63 (NT 1,314,753)
Health Care and Social Assistance US $21,336.67 (NT 593,042)
Public Administration and Safety US $47,190.70 (NT 1,311,642)
Retail Trade US $5,972.40 (NT 166,000)
Other Services US $2,729.86 (NT 75,875)
Rental, Hiring and Real Estate Services US $41,696.16 (NT 1,158,924)
Arts and Recreation Services US $37,412.94 (NT 1,039,874)
Electricity, Gas, Water and Waste Services US $36,974.58 (NT 1,027,690)
Mining US $64331.2564331.25 (NT 1,788,055)


Employment laws in Taiwan 

Taiwan has a specialized Ministry of Labor that makes employment laws and ensures their fulfillment. While making a law, every aspect, right from personal to political, is taken under consideration. Taiwan has sacred religious views which are with care, not disrupted by any means. Following aspects of employment are regulated –

  • Penal Provisions
  • Compensation for Occupational Accidents
  • Retirement
  • Working Hours and Recess
  • Holidays
  • Wages

The laws and regulations that govern the employment relationships in Taiwan are based upon

  • Labor laws 
  • Criminal laws
  • Civil service laws
  • Ministry of Justice
  • Ministry of Labor

Taiwan Remote Hiring Trends 2024

Remote jobs from foreign companies contribute to the projected 3.3% growth in its economy in 2022. With an increase in demand for remote work amongst Taiwanese workers, a 98.5% literacy rate, a 47.3% university education rate, and a ranking of 16th in the world for global talent, Taiwan is an excellent source for international employees.

Hiring Activity in Taiwan

In April of 2022, job vacancies in Taiwan surged by 13%. The number of companies hiring in Taiwan also increased by 30%, including domestic and international organizations. The top industry with job vacancies this year is the software industry with over 197,000 openings. These surges indicate that 2022 is an excellent year to hire employees in Taiwan.

IT Hiring Trends in Taiwan

Hiring trends in the IT industry have varied in Taiwan this year. While IT hiring activity increased to 28.34% of total technology job hiring in March, the rate decreased to 16.88% in July. This suggests a shortage of IT workers after being highly in-demand to accommodate the growing remote world.

In addition, the top job titles hired in the IT industry are:

  • Software developer
  • Web developer
  • Programmer
  • Database administrator
  • Computer support specialist

The top tech companies hiring in Taiwan in 2024 are:

  • MediaTek
  • Micron Technology
  • Applied Materials
  • Trend Micro
  • Microsoft
  • CommScope

How Can Skuad Help You with Hiring in Taiwan?

Hiring the best talent in Taiwan is a complicated process. It requires you to have complete knowledge of hiring costs, local rules, cost of living, and various other aspects. These processes take up a lot of your time and resources. Now, with Skuad as an Employer of Record partner, all your legal recruitment requirements are efficiently handled by just a click of a button. Connect with Skuad to know more.

Employ contractors and employees in 160+ countries

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EOR in 
Taiwan
Monthly
best value
Annually
Pay monthly at a discounted rate with a 12-month commitment
$
399
/month
(billed annually)
G2 badge

Employ contractors and employees in 160+ countries

G2 badge
limited-offer-banner
EOR in 
Taiwan
Monthly
$
449
/month
(billed annually)
Annually
Pay monthly at a discounted rate with a 12-month commitment
$
399
/month
(billed monthly)
G2 badge

Table of Content

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