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Applications Process

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Application Procedure for an Insurer to Establish a Local Branch

 

Name of the Application form:Application Procedure for an Insurer to Establish a Local Branch
Responsible agency:Section 3, Insurance Bureau, Financial Supervisory Commission, Executive Yuan
Application forms available for downloading:Application Form for Establishment of a Local Branch by an Insurer
Sample form:Download the sample form
Legal basis:Insurance Act 
Regulations Governing Establishment, Relocation or Dissolution of Branches by Insurance Companies
Application process:Application Flow Chart
Documents required to be attached:
  1. Application Form for Establishment of a Local Branch;
  2. Certificate showing that the insurer’s equity is higher than its paid-in capital;
  3. Documents showing that the insurer has not received any penalties from the competent authority for deficiencies in its financial operations or violated any provisions of the Regulations Governing Establishment, Relocation or Dissolution of Branches by Insurance Companies in the most recent year or that such deficiencies or violations have been substantially improved;
  4. Board minutes concerning the approval for establishment of the local branch;
  5. Business proposal;
  6. Financial statements audited by certified public accountants for the past three years; and
  7. Certificates certifying that the proposed responsible person satisfies all the qualification requirements for the responsible persons of insurance companies.
Related Q&A: 
Contact person:Telephone: 02-89680899 ext. Section 3, Insurance Bureau
Latest updated date:October 29, 2008
Visitor: 5208   Update: 2011-06-23
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