Offshore funds other than offshore ETFs meeting the conditions listed below may be offered and sold in Taiwan subject to approval by or effective registration with the FSC:
1. The percentage of the offshore fund utilized in derivatives trading may not exceed the percentage as prescribed by the FSC;
2. The offshore fund may not invest in gold, spot commodities, and real estate;
3. The percentages of the offshore fund’s total investments that are invested in securities in the Mainland China securities market may not exceed the percentages set by the FSC;
4. The percentage of the investment in any individual offshore fund that is contributed by Taiwan investors may not exceed the limit set by the FSC;
5. The investment portfolio of the offshore fund may not make Taiwan securities markets its primary investment area; a percentage limit for such investment shall be set by the FSC.
6. The offshore fund may not be denominated in New Taiwan Dollars or Renminbi;
7. The offshore fund must have been established for 1 full year;
8. The offshore fund has been approved by the competent authority of its place of registration to be offered to the public;
9. Such other requirements as may be prescribed by the FSC.
With special-case approval from the FSC or where an offshore fund's place of registration is recognized and publicly announced by Taiwan, an offshore fund may be exempted from the restrictions of subparagraphs 1 and 7 of the preceding paragraph.

When a master agent submits an application (or filing) for the offering and sale of an offshore fund, the offshore fund manager of the offshore fund, other than an offshore ETF, shall meet the following conditions:
1. The total net asset value of all funds under the management of the fund manager (which may include its controlling and subsidiary institutions) raised by public offering and invested in securities exceeds US$2 billion or the equivalent in other foreign currencies. The calculation of the "net asset value" excludes pension funds and discretionary investment accounts.
2. The fund manager has not been sanctioned in connection with the handling of asset management business, with a record, by the competent authority of its home country during the past 2 years in any case in which it furthermore still has not remedied the issue.
3. The fund manager has been established for at least 2 years.
4. The fund manager or a member of the same corporate group has made concrete contributions, in compliance with FSC regulations, that further asset management business in Taiwan, and has been recognized by the FSC. The fund manager, however, may be exempted from this requirement if the place of registration of the fund and the home country of the offshore fund manager have been recognized and publicly announced by Taiwan.

The custodian institution for an offshore fund, other than an offshore ETF, approved by, or effectively registered with, the FSC for offer and sale in Taiwan shall have a certain credit rating or higher from a credit rating institution approved or recognized by the FSC.
If the custodian institution mentioned in the preceding paragraph does not have any credit rating, the credit rating of the conglomerate to which the custodian institution belongs may be used instead.

An offshore ETF that meets the following qualifications may, after obtaining approval from the FSC, file an application with the Taiwan Stock Exchange to be listed and traded on the exchange:
1. The place of registration of the fund and the place where the offshore fund manager is located have been recognized and publicly announced by Taiwan. However, this restriction shall not apply to the place of registration of the fund if the fund is offered or issued under bilateral or multilateral cooperation between financial competent authorities;
2. It meets the requirements set out in Article 23, paragraph 1, subparagraphs 2, 5, 6, 8, and 9.

With respect to an offshore fund offered and sold by a master agent, the FSC may prescribe the total amount of the fund to be offered and sold in Taiwan as it deems necessary for management of the securities market.