Regulations Governing Foreign Bank Branches And Representative Offices Article 5

A foreign bank which meets the following qualifications may apply to establish a representative office in the ROC:1. The said foreign bank shall not have committed any major regulatory violation within the past three years;2. The said foreign bank shall be ranked, in terms of capital or assets, among the top one thousand banks in the world within one year prior to application, or shall have conducted transactions with the banks or enterprises of the ROC in the aggregated amount of more than three hundred million U.S. Dollars during the last three calendar years prior to application. Where there are special provisions in an economic and trade agreement signed by the ROC and the home country of the said foreign bank, such special provisions shall prevail;3. The said foreign bank shall have a good credit rating and sound financial condition, and the competent authorities in its home country have approved its establishment of a representative office in the ROC.A foreign bank shall be limited to establish only one representative office in the ROC.