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Application for establishing a representative office by a foreign bank

Name of the Application form:  Application for establishing a representative office by a foreign bank
Responsible agency:  Foreign Bank Division, Banking Bureau, Financial Supervisory Commission
Application forms available for downloading: Application Form for Establishment of a Representative Office in the ROC by Foreign Banks(ODT)
Legal basis: Laws and Regulations Retrieving System of the Banking Bureau
Application process: Application Flow Chart(PDF)
Documents required to be attached:

A foreign bank applying for establishment of a representative office in the R.O.C. shall submit the documents specified in Subparagraphs 3, 4, and 12 through 16 of Paragraph 1 of Article 6 of the Regulations on Establishment and Administration of Branches and Representative Offices of Foreign Banks together with the following documents to the competent authority for approval:

1.  Application Form.

2. A feasibility study, which shall contain the following:
(1) Analysis of the business strategies concerning establishment of the proposed representative office in the R.O.C., including the operation strategies of the head office and a comparison of the political, economic, trade and financial situations of neighbouring countries of the R.O.C.;
(2) Knowledge about the laws, tax system, banking laws and regulations, and banking system of the R.O.C.; and
(3) An analysis of the advantages and feasibility of doing business in the R.O.C., including analysis of the potential competitors in Taiwan, the business opportunities arising from bilateral trade and cross border investments between the R.O.C. and the home country of the said bank, and the transactions with the business partners, such as banks and clients, in Taiwan.

3.  A self-assessment of the regulatory compliance and soundness of the business operations of the said bank, including an explanation of any regulatory violations, frauds, or disciplinary actions relating thereto within the past three years.

4.The resume and relevant certificates of the person to be designated as the representative in the R.O.C.

5. A written approval issued by the financial supervisory authority of the home country of the said bank for establishment of a representative office in the R.O.C.

6. Authenticated board minutes or equivalent documents concerning the resolution approving the filing of an application for establishment of a representative office in the R.O.C.

7.  A statistical report on the said Bank’s financial transactions with the banks and major enterprises in the R.O.C. in the past three calendar years, required only where the said bank is not ranked among the world top one thousand banks by capital or total assets in the year prior to the application.

8. Such other information or documents as may be required by the competent authorities.

Any authentication of the documents set forth in the preceding paragraph shall be done by a notary public or a R.O.C. consular official in the home country of the said bank.

 

Foreign banks shall follow article 386 of Company Law to leave the record of their cases in the Ministry of Economic Affairs and set up representative offices within eight months after approval of the competent authorities. Also, the copy of office establishment related documents along with establishment date and address shall be sent to the competent authorities for future reference prior to the establishment date. In case of failure in establishing the representative office in due time, the competent authorities shall withdraw the approval.
Related Q&A:  None
Contact person: 02-89689999

 
Visitor: 7708   Update: 2019-07-04
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