Act For Investment by Foreign Nationals Article 15

Where an invested enterprise is organized as a company under the Company Act, the investor thereof may be exempt from the restrictions on the investor’s domicile in the ROC, nationality, and the amount of capital contributions under paragraph 1 of Article 98, paragraph 2 of Article 108, paragraph 1 of Article 128, paragraph 5 of Article 208, and paragraph 1 of Article 216 of the Company Law.The provisions of paragraph 4 of Article 156 of the Company Act requiring issuance of stock certificates to the public, and the provisions of Article 267 of the same Law requiring setting aside a certain percentage of new shares (issued as a result of capital increase by cash) for subscription by employees of the invested enterprise shall not apply to an investor’s investment if such investment accounts for 45% or more of the total capital of the enterprise in which the investor invests.If the investor’s investment is made in conjunction with an overseas compatriot who makes the investment under the Act for Investment by Overseas Compatriots, and if their aggregate amount of investment accounts for 45% or more of the total capital amount of the invested enterprise, the provisions referred to in the preceding paragraph shall, mutatis mutandis, apply thereto.