How much money do you need to live comfortably in Taiwan?

Living in Taipei, the most expensive city in Taiwan, requires a higher salary to maintain a comfortable lifestyle. A salary of around NT$60,000 to NT$80,000 (USD $2,000 to $2,600) per month would allow you to comfortably afford rent, dining out, transportation, and occasional entertainment.

How much money is considered rich in Taiwan?

The average wealth among the top 20 percent of Taiwanese households was NT$51.33 million in 2021, accounting for 62.68 percent of total household wealth, while the average for the bottom 20 percent was NT$770,000, or 0.94 percent of the total, the data showed.

How much do you need to retire comfortably in Taiwan?

Taiwanese need about NT$15m to have a comfortable lifestyle in retirement. Taiwanese need about NT$15 million (US$466,200) to maintain a comfortable lifestyle in retirement, but nearly 80 percent said they lack the finances to meet that target, a survey released on Tuesday by CTBC Bank (中國信託銀行) showed.

How much is a 1 month salary in Taiwan?

Taiwan's basic wage system is discussed in the third quarter of every year by the Basic Wage Committees and announced and implemented by the Executive Yuan after its approval. The current net minimum wage in Taiwan is NT$28,590 per month ( c. US$868/€843) and NT$190 (US$5.77/€5.6) per hour, as of 1 January 2025.

How much money do I need to live in Taiwan?

The average monthly expenses for a family of four in Taiwan are around USD $3,025, excluding rent, while a single person's estimated monthly costs are approximately USD $826. Individuals typically earn about USD $1,774 per month after taxes in Taiwan.

Cost of Living in Taipei, Taiwan 2025 | FULL Price Breakdown

Can I still work in Taiwan after 12 years?

There is no limit to the number of years an intermediate skilled foreign workers can work in Taiwan, they receive a higher salary, have a more advanced skill level and are not required to pay an employment security fee. After working for a further five years, such individuals can also apply for permanent residency.

What's the retirement age in Taiwan?

The official retirement age in Taiwan is 65 years old but the retirement age may be postponed through mutual agreement between the employer and the worker. However, there are some exceptions and variances in particular fields and occupations.

Can a foreigner retire in Taiwan?

Retire in Taiwan – Visas

Taiwan does not offer a retirement visa like some other southeast Asian countries like Malaysia and Thailand. However, foreigners who want to settle in Taiwan long term can apply for one of several non-retirement visas.

Why are Taiwanese so rich?

Taiwan is notable for its rapid economic development from an agriculture-based society to an industrialized, high-income country. This economic growth has been described as the Taiwan Miracle. It is gauged in the high-income economies group by the World Bank.

What is the average net worth of a UK citizen?

The median net worth of an individual in the UK is £125,000 when taking the average of all age groups into account, according to the latest available data from the Office for National Statistics (collected between 2018 and 2020 and published in September 2023).

Where do the rich live in Taiwan?

In fact, none of the island's three richest boroughs – the other two are Datong and Zhongxing – is located in the capital city. Instead, they are all in Hsinchu city or county, close to the famed Hsinchu Science Park, which is often referred to as Taiwan's Silicon Valley.

How much is a house in Taiwan?

Buying property in Taipei costs around US$7,000 per square meter (US$650 per square foot). That means a rather modest 100sqm, two-bedroom house or apartment for sale in Taipei will set you back US$700,000. The average Taiwanese citizen makes just over US$1,500 a month though.

Which is cheaper, Thailand or Taiwan?

Taiwan is slightly more expensive than Thailand. Many costs, however, are comparable—and not just because of the similar value of the TWD and THB. For example, things like street food and public transportation have comparable costs in Bangkok and Taipei.

How much is a cup of coffee in Taiwan?

On average a cup of coffee in Eastern Asia costs $3.51. The cheapest cup of coffee in Eastern Asia is to be found in Japan, where the average cost is $3.11 per cup. The Taiwanese pay the most for their coffee, the price is $3.78 per cup.

Where is the cheapest place to live in the world?

What is a good salary in Taiwan?

Average Salary

The average monthly salary in Taiwan is around NT$40,000 to NT$50,000 (USD $1,300 to $1,650).

How to live in Taiwan permanently as a foreigner?

Permanent residency: an alien will be qualified for a permanent residency application if he/she is legally resided in Taiwan for 5 consecutive years (3 years if from specific professional categories) , having been physically present in the country for at least 183 days each calendar year.

What is the minimum wage in Taiwan?

In January 2025, the minimum wage was increased again, with the monthly minimum wage rising by 42.9% from NT$20,008 (US$609) in 2016 to NT$28,590 (US$870) in 2025, and the hourly minimum wage by 58.3% from NT$120 (US$3.65) in 2016 to NT$190 (US$5.78) in 2025, fulfilling the government's promise to safeguard the basic ...

What language is spoken in Taiwan?

Mandarin is Taiwan's official language and is central to its language-scape. Taiwanese Mandarin differs from Mainland China's simplified character system using traditional Chinese characters. Traditional characters represent Taiwan's educational and official documentation requirements as well as cultural preferences.