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Article 26
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A securities firm applying for a permit to establish a branch office or representative office overseas or a financial institution with approval to concurrently operate securities business applying for a permit for its overseas branch office to concurrently operate securities business shall submit all of the following documentation to the FSC:<br/>1. Application for establishment of the branch office or representative office.<br/>2. Articles of incorporation or document equivalent to articles of incorporation.<br/>3. Business plan: for the establishment of a branch office, the plan shall specify the principles of business operation by the overseas branch office, internal organization and division of labor, personnel recruitment, overview of the site and facilities, and its financial forecasts for the next 3 years; for the establishment of a representative office, the plan shall specify the organization of and affairs to be dealt with by its representative office.<br/>4. Meeting minutes of the board of directors or (board of governors).<br/>5. Internal control system required under Article 11 (including the overseas branch office or representative office).<br/>6. For the establishment of a branch office, a feasibility assessment report must be submitted, specifying: the factors in the choice of the location for establishment; provisions of laws and regulations regarding matters such as local restrictions applying to foreign securities firms with respect to application procedures, review standards, business operations, and whether the competent authority of the home country may collect and inspect information on the financial and operational condition of the branch office; self-assessment describing the compliance of the application case with local laws and regulations, operational risk assessment and benefit analysis.<br/>7. Other documents as required by the FSC.<br/>If the business that would be handled, under local securities laws and regulations and customary business practices, by the overseas branch office that the securities firm is applying to establish extends beyond the business items of the head office, all of the following documents shall be submitted in addition to the documents in the preceding paragraph:<br/>1. Business item particulars: including the products to be handled, types of transactions, and trading counterparts and markets.<br/>2. Local laws and regulations that must be complied with when engaging in such business.<br/>3. Internal control and risk management plan.<br/>4. Legal opinion by a lawyer.
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