Newsletter
MOI CONSIDERS LIBERALIZING FOREIGN INVESTMENT IN REAL ESTATE
Foreign persons wishing to acquire ownership of land in the ROC face severe limitations under the Land Law. But in view of the economic slow-down in recent years, the Ministry of the Interior is considering amending the Land Law to relax restrictions on foreign ownership of land, in or-der to encourage foreign investment and prepare for Taiwan's imminent accession to the World Trade Organization.
In future, foreigners may be able to acquire ownership of land for investment and develop-ment. But the principles of equality and recip-rocity will continue to apply, and the current ban on transfers of certain types of land to foreigners under Article 17 of the Land Law will be re-tained.
After the law is changed, any foreign national wishing to acquire land in the ROC and meeting the qualifying criteria will also have to apply with the central land registration authorities for approval. The documents and procedures re-quired for such applications will be governed by separate licensing regulations, to be drawn up by the central land registration authorities.