Application for establishing a branch by a foreign bank
|Name of the Application form：||Application for establishing a branch by a foreign bank|
|Responsible agency：||Foreign Bank Division, Banking Bureau, Financial Supervisory Commission|
|Application forms available for downloading：|
|Legal basis：||Laws and Regulations Retrieving System of the Banking Bureau|
|Application process：||Application flow chart(PDF FILE)|
|Documents required to be attached：||
A foreign bank wishing to establish a branch in the ROC shall submit the following documents to the competent authority for approval:
2. A feasibility study, which shall include the following particulars:
(1) The business strategic consideration for the establishment of the proposed ROC branch, including the operation strategy of the head office and a comparison of the political, economic, trade and financial situations of countries neighboring the ROC.
3. Bank profile, including:
(1) Organization: A description of the brief history of the foreign bank (including any mergers/acquisitions ), its major departments, worldwide branches and network, its holding company and subsidiaries and the relevant shareholding information as well as their business operations, and the head office's supervision and management of its overseas branches (including the scope and frequency of bank audits).
4. The foreign bank's ranking among the world's leading banks by capital or assets for the prior year, as well as the credit rating of the foreign bank by a globally recognized rating agency.
5. A self-assessment regarding the foreign bank's compliance with laws and regulations and the integrity of its business operations, as well as an explanation of any [legal/regulatory] violations, frauds, disciplinary actions imposed on the foreign bank, or failure to improve severe deficiencies in “anti-money laundering and countering the financing of terrorism” (AML/CFT) within the past five years.
6. A document issued by the financial regulator of the foreign bank's home country approving the establishment of a branch in the ROC.
7. A document issued by the financial regulator of the foreign bank's home country stating its willingness to cooperate with the ROC in sharing the supervisory and regulatory responsibility for the foreign bank, as well as a document [issued by such regulator] confirming the soundness of the foreign bank's business and financial conditions.
9. The resume and associated evidentiary documents of the proposed manager for the branch within the territories of the ROC.
(1) Market and business strategy and plan for future growth.
11. Authenticated minutes of the board resolution approving the filing of an application to establish a branch in the ROC or an equivalent document thereof.
12. A certification by a certified public accountant of the bank's ratio of capital to risk-weighted assets as of the end of the latest fiscal year.
13. The Power of Attorney issued by a responsible person of the head office authorizing a lawyer or certified public accountant to file the application for approval to establish a branch in the ROC.
15. Documentation proving the due incorporation and existence of the bank as a legal entity and the banking license issued by the regulator in the home country.
16. An authenticated copy of the bank's articles of incorporation.
19. A declaration of the designated representative.
20. Such other information or documents as may be required by the competent authority.
A foreign bank shall complete the following procedures and commence operations within eight months after receiving approval to establish a branch (or an additional branch); otherwise the competent authority may revoke the approval to establish a branch/additional branch:
2. Submission of an Application for Approved Branch Business Items to the competent authority for approving business items for the branch.
3.Completion of the foreign company’s branch company registration (or amendment thereto) as required by the Company Law and related regulations.
4. Submission of an Application for Business License to the competent authority for the issuance of banking license and payment of the registration fee.
5. Report to the competent authority of the date on which the branch will commence business, and, as required by Articles 55 of the Banking Law, make public announcement in Chinese at the place where the branch is located regarding the particulars recorded on the banking license issued by the competent authority.