The National Development Council says it will continue to relax rules and regulations to attract foreign professionals.
The council said on Monday there has been tremendous progress since the Act for the Recruitment and Employment of Foreign Nationals was in place last February. The act relaxed rules concerning visa requirements, residency and work permits. It also added incentives related to insurance, taxation and retirement benefits to create a better working environment.
Gold cards are given to certain foreign professionals to streamline the paperwork needed for a work permit, a visa, an alien resident card (ARC), and a re-entry permit. The council has issued over 400 gold cards for foreign professionals so far. The first gold card holder is Steve Chen, one of the co-founders of YouTube.
Statistics released by the council show that Americans make up 24% of gold card holders, followed by Hong Kongers at 11%, Britons at 9%, and Danes and Malaysians at 6%. Applicants who are eligible to apply for a gold card must work in the fields of technology, economics, education, arts, sports, finance, law and architectural design.