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Article 22-12
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The following insurance enterprises may, through their head offices, apply to the competent authorities for a license to establish an offshore insurance branch within the ROC with independent accounting to conduct offshore insurance businesses:<br/>1.Insurance enterprises approved by the FSC to engage in insurance businesses within the ROC.<br/>2.Foreign insurance enterprises approved by the FSC to engage in insurance businesses within the ROC.<br/>The term “insurance enterprises” referred to in the preceding paragraph shall mean non-life insurance enterprises, insurance of the person enterprises and professional reinsurance enterprises.<br/>An offshore insurance branch established pursuant to paragraph 1 hereof shall allocate working capital for its operations. The minimum amount of the working capital shall be set by the FSC.
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