Regulations for Establishment and Administration of Foreign Insurance Enterprises Article 27-2

A foreign insurance institution applying for permission to set up a representative office within the territory of the ROC shall submit the following documents to the competent authority for approval:1. Application for the Setup of Representative Office.2. Certificate of incorporation and business license.3. Documents evidencing that the competent authority in the applicant’s home country and the applicant’s board of directors have granted approval to the setup of a representative office in the ROC by the applicant.4. A letter of authorization authorizing the representative designated to head the representative office.5. The curriculum vitae of the representative designated to head the representative office and relevant proof documents.6. A rating report prepared by an insurance rating agency recognized by the competent authority.7. The representative office setup plan, specifying at least staff allocation, job descriptions, and benefit analysis for the setup.8. A document issued by the competent authority in the applicant’s home country certifying that no penalty has been recorded against the applicant for material regulatory violation in the last three years. Where the applicant has been established for less than three years, the applicant must submit a document certifying that no penalty has been recorded against it for material regulatory violation since its establishment.9. Other documents as required by the competent authority.Provisions in paragraphs 2 and 3 of Article 9 herein shall apply mutatis mutandis to the application for the setup of a representative office by a foreign insurance institution.