A foreign bank shall complete the following procedures and commence operations within eight months after receiving approval to establish a branch (or an additional branch); otherwise the competent authority may revoke the approval to establish a branch/additional branch:1. Remittance of working capital for its business operations in the ROC;2. Submission of an Application for Approved Branch Business Items (see Attachment 3) to the competent authority for approving business items for the branch;3. Completion of the foreign company’s branch company registration (or amendment thereto) as required by the Company Law and related regulations;4. Submission of an Application for Business License (see Attachment 4) to the competent authority for the issuance of banking license and payment of the registration fee;5. Report to the competent authority of the date on which the branch will commence business, and, as required by Articles 55 of the Banking Law, make public announcement in Chinese at the place where the branch is located regarding the particulars recorded on the banking license issued by the competent authority.One extension to the period specified in the preceding paragraph may be granted upon application if there is an extraordinary event.Attachment 3 Application for Approved Branch Business Items.pdfAttachment 4 Table of Required Information for Foreign Bank Branch Business License.pdf