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Article 51
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A securities firm applying to invest in a newly formed foreign enterprise shall provide the following documents to the FSC to apply for approval:<br/>1. The company's articles of incorporation or document equivalent to the company's articles of incorporation.<br/>2. The investment plan, the contents of which shall include the following items:<br/>A. Investment plan: shall include the purpose of the investment, anticipated benefits, sources of capital, usage plan, operations plan, capital recovery plan, etc. If the investment follows a holding company model, then the plans for investment in subsidiary(ies) shall be included as well.<br/>B. Business operation principles: shall include the establishment location, amount of capital, business to be operated, business items, business operation strategies, etc. of the company.<br/>C. Structure and functions of the organization: shall include 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.<br/>D. Personnel plan: shall include personnel allocation/structuring, personnel training, and regulations of personnel management, etc.<br/>E. Overview of the site and facilities: shall include site layout, summary of important equipment/facilities, etc.<br/>F. Financial projection for the next 3 years: shall include opening costs, financial estimates and notes for financial statement for the next 3 years, etc.<br/>3. The minutes of the board of directors' or board of governors' meeting or minutes of the shareholders' meeting resolution.<br/>4. The most recent financial report, audited and attested or reviewed by the certified public accountants.<br/>5. Management rules shall be established for those invested or sub-invested overseas enterprises in which the investment shareholding percentage will exceed 50 percent or above. The contents of such management rules shall include the following items:<br/>A. The scope of management.<br/>B. The direction and principles of management.<br/>C. The management of financial, business, and accounting affairs.<br/>D. The management of assets.<br/>E. The financial statements to be regularly prepared.<br/>F The method of regular internal auditing of finances and business.<br/>G. Others, such as: management of personnel operations, internal control auditing of the invested enterprises, etc.<br/>6. A list detailing domestic and foreign invested enterprises as of the date of application.<br/>7. Other documents required by the FSC.
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