The Legislative Yuan, in its Plenary Sitting in July 1st, 2025, approved the Executive Yuan’s proposed amendment to Article 22-16 of the Offshore Banking Act on July 1, 2025. The Financial Supervisory Commission (FSC) expressed its appreciation to the Legislative Yuan and all stakeholders for their continued support and valuable input throughout the legislative process. 

The FSC stated that the anticipated benefits of the amendment to Article 22-16 of the Offshore Banking Act are aligned with the important national policy of promoting Taiwan as an Asian asset management center. It aims to expand the international reach of Taiwan's insurance industry and enhance the competitiveness of insurance products sold through offshore insurance businesses. 

The amendment extends the exemption period for business income tax, business tax, stamp tax, and income tax withholding for offshore insurance branches (OIUs) until the end of 2035. The extension is expected to provide continued incentives for insurers to develop new products, supporting the diversification of OIU insurance offerings and increasing consumer demand. In addition, by fostering synergy with offshore banking branches (OBUs) and offshore securities branches (OSUs), the amendment will support the expansion of Taiwan’s asset management services and for the insurance industry to expand its global reach. 

Contact Unit: General Supervision Division, Insurance Bureau
Phone: (02)8968-0597
If you have any questions, please write to mail: https://fscmail.fsc.gov.tw