Regulations Governing Foreign Investments by Insurance Companies Article 11-3
This English translation was last updated on 2024-05-17, but the Chinese text was amended on 2026-09-04. Later amendments may not be reflected in the translation — please refer to the Chinese text.
An insurer obtaining real estate overseas or in the Mainland China area through a trust contract based on subparagraph 4, paragraph 1 of article 11-1 shall conduct affairs in conformity with the following regulations.1. The trustee institution shall be permitted by competent authority to engage in a trust business with a credit rating equivalent to BBB+ as rated by domestic or foreign credit agencies within the latest one-year and shall not be the interested parties, as mentioned in paragraph 3 of article 146-7 of this Act.2. A trust contract made between insurers and a trustee institution shall contain at least the following items:(1) The insurer shall have the decision making power with regard to the utilization of the trust properties.(2) Concerning any realized revenue from the trust properties, unless there is a concrete utilization plan permitted by the competent authority or it is reserved as operational capital, the trustee institution shall transfer the revenue to the insurer no later than six months after the annual settlement.(3) When it is necessary, the trustee institution, upon a request from the competent authority, shall provide related information that shall not be falsely represented or concealed.Before the real estate obtained overseas or in the Mainland China by investment through a trust contract, an insurer shall prepare the following items for the approval of the competent authority：1. The name, credit rating, and the obligations and responsibilities of the trustee institution.2. The trust contract signed with the trustee institutions and an explanation of trust properties in which the type, location, and acreage shall be listed.3. Certificates that have been legally utilized and have generated income at the time of such investment.4. Other documents reported upon the request of the competent authority.An insurer shall, within 3 months after the end of each fiscal year, prepare for the competent authority the following documents on real estate obtained overseas or in the Mainland China by investment through a trust contract:1. A CPA audited and certified final accounting report issued by the trustee institutions.2. Summary of information concerning the operational situation of the trust contract issued by the trustee institutions.3. Other documents requested by competent authority.If the overseas or Mainland China area real estate acquired by an insurer through a trust contract has any of the following events, the insurer shall report the reasons and relevant information to the competent authority within seven days after the occurrence of event:1. Change of trust structure after the insurer has been approved by or has filed with the competent authority. The preceding provision applies to the situation where the trust structure changes again after the insurer has reported change of trust structure to the competent authority in accordance with this paragraph.2. Change of trustee institution.3. Change of trust contract signed with the trustee institution that has material impact on the rights and interests of the insurer.4. The overseas or Mainland China area real estate acquired by the insurer is involved in a major violation case or judicial litigation case.5. The trustee institution is selling all or part of the trust property or the trust property suffers loss for some reason.
中文原文 保險業辦理國外投資管理辦法第11-3條
保險業依第十一條之一第一項第四款規定經由信託方式取得國外及大陸地區不動產，應符合下列規定：
一、受託機構應為經當地主管機關核准經營信託事業者，且最近一年內經國內外信用評等機構評定為BBB+級或相當等級以上之金融機構，並不得為本法第一百四十六條之七第三項所稱之利害關係人。
二、保險業與受託機構簽訂之信託契約至少應包含下列項目：
（一）保險業對信託財產應具運用決定權。
（二）信託財產所生之已實現收益，除有具體運用計畫報經主管機關核准或預留必要之營運資金者外，受託機構應於每年結算後六個月內匯交保險業。
（三）必要時，受託機構應依主管機關要求立即配合提供有關資料，不得有虛偽或隱匿之情事。
保險業應就擬以信託方式投資取得之國外及大陸地區不動產每一標的物於事前逐筆檢送下列書件向主管機關申請核准：
一、受託機構之名稱、信用評等及其義務與責任之說明。
二、與受託機構簽訂之信託契約，及信託財產之說明，其內容至少應載明擬購置不動產之種類、地點、面積等事項。
三、投資時已合法利用並產生利用效益之證明文件。
四、其他經主管機關要求提報之文件。
保險業應於年度終了後三個月內，檢具下列以信託方式取得國外及大陸地區不動產之資料，報請主管機關備查：
一、受託機構出具經會計師查核簽證之信託決算書。
二、受託機構出具之營運狀況基本資料之彙整摘要。
三、其他經主管機關要求之文件。
保險業經由信託方式取得國外及大陸地區不動產有下列情事之一者，應於事實發生後七日內檢具事由及相關資料向主管機關陳報：
一、向主管機關申請核准或備查後，信託架構有變動者。
已依本項規定向主管機關陳報信託架構變動後再有變動者，亦同。
二、受託機構異動。
三、與受託機構簽訂之信託契約有重大影響保險業權益之變更。
四、與保險業所取得國外及大陸地區不動產有關之重大違規案件或司法訴訟案件。
五、受託機構出售全部或部分信託財產，或該信託財產因故滅失。
一、受託機構應為經當地主管機關核准經營信託事業者，且最近一年內經國內外信用評等機構評定為BBB+級或相當等級以上之金融機構，並不得為本法第一百四十六條之七第三項所稱之利害關係人。
二、保險業與受託機構簽訂之信託契約至少應包含下列項目：
（一）保險業對信託財產應具運用決定權。
（二）信託財產所生之已實現收益，除有具體運用計畫報經主管機關核准或預留必要之營運資金者外，受託機構應於每年結算後六個月內匯交保險業。
（三）必要時，受託機構應依主管機關要求立即配合提供有關資料，不得有虛偽或隱匿之情事。
保險業應就擬以信託方式投資取得之國外及大陸地區不動產每一標的物於事前逐筆檢送下列書件向主管機關申請核准：
一、受託機構之名稱、信用評等及其義務與責任之說明。
二、與受託機構簽訂之信託契約，及信託財產之說明，其內容至少應載明擬購置不動產之種類、地點、面積等事項。
三、投資時已合法利用並產生利用效益之證明文件。
四、其他經主管機關要求提報之文件。
保險業應於年度終了後三個月內，檢具下列以信託方式取得國外及大陸地區不動產之資料，報請主管機關備查：
一、受託機構出具經會計師查核簽證之信託決算書。
二、受託機構出具之營運狀況基本資料之彙整摘要。
三、其他經主管機關要求之文件。
保險業經由信託方式取得國外及大陸地區不動產有下列情事之一者，應於事實發生後七日內檢具事由及相關資料向主管機關陳報：
一、向主管機關申請核准或備查後，信託架構有變動者。
已依本項規定向主管機關陳報信託架構變動後再有變動者，亦同。
二、受託機構異動。
三、與受託機構簽訂之信託契約有重大影響保險業權益之變更。
四、與保險業所取得國外及大陸地區不動產有關之重大違規案件或司法訴訟案件。
五、受託機構出售全部或部分信託財產，或該信託財產因故滅失。