An offshore overseas Chinese or foreign national investing in domestic securities shall appoint a local agent or representative to undertake matters such as opening accounts for trading in domestic securities; applying to exchange, convert into, or subscribe to domestic corporate bonds; exercising rights in purchased securities; applying for exchange settlement; and paying taxes.
The required qualifications for the agent or representative in the preceding paragraph are as follows:
Where an agent is either a juristic person or a foreign juristic person as set forth under subparagraph 1, items 2 and 3 of the preceding paragraph, one natural person must be designated to carry out the services of agent.
- Requirements for an agent:
- If a natural person: Must have legal capacity. In the case of an overseas Chinese or a foreign natural person, he or she must be residing in the territory of the ROC with an Overseas Compatriot Identity Certificate, or holding an ROC passport with an Overseas Compatriot Identity Endorsement, or holding an Alien Resident Certificate.
- If a juristic person: Must be established in accordance with ROC laws and qualified to act as an agent.
- If a foreign juristic person: Must have established a branch company within ROC territory and be qualified to act as an agent.
- Requirement for a representative: Must be the representative at a representative office established in the ROC, or be the responsible person at a branch office.
An offshore foreign institutional investor holding shares in a public company shall appoint a domestic agent or representative to exercise the voting rights attaching thereto unless otherwise provided by law.