萬國法律事務所

On July 7, 2006, the Central Bank revised the Directions for Banking Enterprises while Assisting Customers to Declare Foreign Exchange Receipts and Disbursements or Transactions.  The revision will allow domestic charity and public-benefit groups to manage remittances connected to international humanitarian assistance by using letters of permission from the competent authorities.  These remittances are not calculated in the US$ 5 million in maximum annual remittances that groups are permitted to make.

Because of Taiwan’s futures market’s rapid development and in order to make it easier for residents to participate in foreign-currency-denominated futures transactions, the rules were liberalized in the area of paying in foreign-currency guarantee bonds.  Now, not only can someone use his or her own foreign currency to pay in the necessary foreign currency guarantee bond, but he or she can also use New Taiwan Dollars to pay the futures broker, who then will change the funds into the foreign currency required to pay the bond.  These foreign exchange transactions will not be included in the broker’s foreign exchange transactions for the year.  Pursuant to the current regulations, an individual or community group may only accumulate US$ 5 million of foreign exchange transactions per year.  Companies may accumulate up to US $ 50 million.

Further, because of increasing growth in exchanges with mainland China, juridical persons and groups have been added to the list of entities, already including individuals and travel agencies, that may exchange currency for the purpose of engaging in tourist travel to China.