Taiwan eyes asset management hub status with law changes

They must retain their branch in the same place for a 7-year period.

Taiwan has proposed regulatory amendments to encourage the establishment of more asset management zones by local financial institutions (FIs).

Financial institutions establishing branches in local asset management zones will be exempt from financial, operational conditions, and restrictions on the application timing for branch establishment, according to draft amendments proposed by the Financial Supervisory Commission (FSC) of Taiwan.

FIs approved to establish branches in the zones will not be allowed to relocate within seven years of establishment, unless approved by authorities.

Regulators hope that these amendments will promote Taiwan as an asset management center in Asia.