Offshore banking branches should pay attention to the following when accepting the opening of new accounts:
1. An offshore banking branch shall not refer its onshore customers to agencieswho assist in setting up offshore companies, or induce or assist onshore customers to switch their identity to non-resident status in order to open an account at the offshore banking branch.
2. An offshore banking branch should enhance its understanding of the purpose of a customer opening an account, intended use of the account and planned transaction activities, and the situation, if applicable, where the shareholders, directors or beneficial owners of an offshore legal entity customer include onshore individuals or legal persons, and obtain a customer statement declaring that itdid not switch to non-resident status under inducement or for investment in specific products.
An offshore banking branch should establish a concrete and viable internal control system for matters specified in the preceding paragraph and implement the system after reporting to the board of directors for approval in the case of a domestic bank or to the head office or regional center for approval in the case of a branch of a foreign bank in Taiwan.