To promote international financial activities and establish a regional financial center, this Act is enacted to permit banks, securities firms and insurance enterprises respectively to set up offshore banking branches, offshore securities branches and offshore insurance branches within the territory of the Republic of China (ROC).

Financial Supervisory Commission (FSC) shall be the competent administrative authority and the Central Bank of the Republic of China (Taiwan) (CBC) shall be the competent operational authority for offshore banking, securities and insurance businesses.