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Article 52
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Securities firms applying for investment in foreign enterprises shall provide the following documents to the FSC with the application for an approval:
- The company's articles of incorporation/bylaws or a document equivalent to the company's constitution/regulations.
- The plan for investment including: the purpose of investment, the estimated effect, the origin of capital, the recapitalization plan, the estimated income/expenses/profits of the invested foreign enterprise of each year for the next 3 years, etc.
- The minutes of the board of directors' or board of governors' meeting or minutes of the shareholders' meeting resolution.
- The most recent financial report, audited and attested or reviewed by the certified public accountant.
- Management/administration rules shall be set up for those invested or sub-invested foreign enterprises where the investment shareholding percentage has exceeded 50 percent. The contents of such management/administration rules shall include the following items:
- the scope of management
- the direction and principles of management
- the management of financial, business, and accounting affairs.
- the management of assets
- the financial statements to be regularly prepared
- the method of regular auditing of internal financial and business affairs
- others, such as: management of personnel operations, internal control auditing of the invested enterprises, etc.
- A list detailing the domestic and foreign invested enterprises as of the date of application.
- General description of the invested foreign enterprise including: a synopsis of the company, the company organization, capital and shares, scope of business, and financial condition for the most recent 3 fiscal years, etc.
- The investment (or joint venture) agreement.
- Other documents required by the FSC.
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