Regulations for Establishment and Administration of Foreign Insurance Enterprises Article 27-3

A foreign insurance institution shall, within six months after obtaining the permission under the preceding article, set up the representative office after filing a registration application with the Ministry of Economic Affairs for establishing a representative office within the territory of the ROC pursuant to Paragraph 1, Article 386 of the Company Act, and submit a copy of the registration document together with a letter stating the date of setup and the address of the representative office to the competent authority for recordation.Where a foreign insurance institution fails to file such an application with the Ministry of Economic Affairs within the time period prescribed in the preceding paragraph, the competent authority may void its permit. However, if the institution has a justified reason, it may apply to the competent authority before the deadline set forth in the preceding paragraph for an extension. The extension shall not exceed two months and only one extension will be allowed.