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Article 51
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Securities firms applying for investment in a newly formed foreign enterprise shall provide the following documents to the FSC in their application:
- The company's articles of incorporation/by laws or a document equivalent to the company's constitution/regulations.
- The plan for investment, the contents of which shall include the following items:
- The plan for investment including: the purpose of investment, the estimated effect, the origin of capital, the implementation plan, the operation plan, the recapitalization plan, etc. If the type of investment is company, then its reinvestment plan shall be included as well.
- Guidelines for business operations including: the establishment location, amount of capital, the business to be operated, the scope/items of business, business operation strategies, etc. of the company.
- Structure and functions of the organization including: a chart of the organization of the company or a group organizational chart for a holding company, functions and allocation of duties of departments, etc.
- Personnel plan including: personnel allocation/structuring, personnel training, and regulations of personnel management, etc.
- Condition of the site and facilities including: site layout, the summary of important equipment/facilities, etc.
- Financial projection for the next 3 years including: opening costs, financial estimates and notes for financial statement for the next 3 years, etc.
- The minutes of the board of directors' or board of governors' meeting or minutes of the shareholders' meeting resolution.
- The most recent financial report, audited and attested or reviewed by the certified public accountant.
- Management/administration rules shall be set up for those invested or sub-invested foreign enterprises where the investment shareholding percentage is 50 percent or above. The contents of such management/administration rules shall include the following items:
- the scope of management
- the direction and principles of management
- the management of financial, business, and accounting affairs.
- the management of assets
- the financial statements to be regularly prepared
- the method of regular auditing of internal financial and business affairs
- others, such as: management of personnel operations, internal control auditing of the invested enterprises, etc.
- A list detailing the domestic and foreign invested enterprises as of the date of application.
- Other documents required by the FSC.
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