A SITE that issues overseas beneficial certificates for subscription by overseas Chinese and foreign nationals for the purpose of offering a securities investment trust fund shall apply to the FSC for approval within 1 month after obtaining an approval letter from the competent authority for foreign exchange business.
Inward remittance of the funds raised through the offering of the fund shall be handled in accordance with the applicable provisions of foreign exchange acts and regulations.

Earnings derived from securities investment trust funds issued by SITEs may be distributed to the beneficiaries of overseas beneficial certificates, provided that capital gains and stock dividends are distributed from realized gains only.

The beneficiary of overseas beneficial certificates may, in accordance with the provisions of the applicable foreign exchange acts and regulations, carry out exchange settlement or reinvest in domestic securities using the proceeds from any of the following sources: proceeds from a buyback [of overseas beneficial certificates]; proceeds from the distribution of trust fund assets by a SITE; or earnings distributed pursuant to the preceding article.
Offshore overseas Chinese and foreign nationals reinvesting in domestic securities in accordance with the preceding paragraph shall enter their investments in the accounts set forth under Article 22, submit a report within 5 days to the competent authority for foreign exchange business, and submit [the relevant] materials to the Taiwan Stock Exchange Corporation (TWSE) for registration. Where the total resulting investments exceed the originally approved investment cap or the limit as provided in Article 12, such excess amount shall be exempt from the approval requirement set forth under Article 10.
Articles 16, 17, 20, 21, 23, and Article 27, paragraph 2 shall apply mutatis mutandis to reinvestment in domestic securities by offshore overseas Chinese and foreign nationals pursuant to paragraph 1.
Article 10 shall apply mutatis mutandis to reinvestment in domestic securities by overseas Chinese and foreign nationals in accordance with paragraph 1.