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Article NO. Content


Offshore Banking Act  CH

Amended Date: 2016.12.28 
Article 22-14 An offshore insurance branch may designate the head office of the same insurance enterprise or a branch of the same foreign insurance enterprise established inside the territory of the ROC that has been authorized by the CBC to conduct insurance-related foreign exchange business (the "designated branch") to handle the business activities set out in paragraph 1 of the preceding Article. The business handled by the designated branch shall be booked on the account books of the offshore insurance branch.
The scope of business that the designated branch may handle includes cross-strait insurance business approved by the competent authorities in accordance with the Act Governing Relations between the People of the Taiwan Area and the Mainland Area. The control and supervision of such activities shall be handled in accordance with the regulations related to cross-strait insurance business. The offshore insurance branch shall coordinate and be responsible for such control and supervision.
If the designated branch charges the offshore insurance branch reasonable fees for handling any of the offshore insurance branch's activities to pay for its operating expenses, such revenue shall be booked as the designated branch's income and be duly subject to taxation. If the designated branch does not charge the offshore insurance branch any such fees, the expenses for handling the offshore insurance branch's businesses may not be booked as expenses.