Regulations Governing Anti-Money Laundering and Counter-Terrorism Financing for Land Administration Agents and Real Estate Brokerages Article 2

The terms used in these Regulations are defined as follows:1. Land administration agents: individuals who have obtained a land administration agent certificate or a professional land registration agent certificate in accordance with the Land Administration Agent Act and have obtained a land administration agent practicing license to practice as land administration agents.2. Real estate brokerages: companies or firms that engage in real estate brokering or real estate sales transactions on behalf of others in accordance with the Real Estate Broking Management Act.3. Customers: both parties that are involved in a real estate transaction.4. Beneficial owners: natural persons who ultimately own or control the customers or the natural persons on whose behalf a transaction is being conducted, including those persons who exercise ultimate effective control over a legal person or arrangement.5. High-risk countries or areas: countries or areas specified in Paragraph 2 of Article 9 of the Money Laundering Control Act.6. Business relationship: having conducted three or more real estate transactions for the same customers within five years.7. A certain amount: NT$500,000 or the foreign currency equivalent thereof.8. Cash transaction: cash receipt or payment in a single transaction.