A SICE may be organized only as a company limited by shares, with paid-in capital of no less than NT$20 million.
The minimum paid-in capital under the preceding paragraph shall be fully subscribed by the promoters at the time of promotion.

A SICE shall at least set up an investment analysis department and a finance and accounting department, staffed with competent managerial officers, department supervisors, and associated persons in sufficient numbers, who shall satisfy the qualification requirements set out in the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises.

For operation of a SICE, an application shall be made with the FSC for permission by filling out and submitting an application form, together with the following documents:
1.Articles of incorporation.
2.A business plan, specifying: operational principles; internal organization and segregation of duties; personnel recruitment and training; general description of premises and facilities; and financial forecasts for the coming year.
3.Promoters meeting minutes.
4.A register of promoters, specifying: name (individual or company), national ID (or alien resident certificate, alien permanent resident certificate, or passport) number or government uniform invoice (GUI) number, address or company location, capital contribution, and subscription ratio. For natural-person promoters, the application must be accompanied by documentary proof of identify. For juristic-person promoters, the application must be accompanied by articles of incorporation, photocopy of documentary proof of incorporation registration, documentary proof of status as an ongoing concern, letter of appointment of the representative and letter of acceptance from the appointed person, CPA-audited and attested financial report for the last fiscal year, register of directors, register of supervisors, register of major shareholders with a shareholding of 3% or more, and register of affiliated enterprises.
5.Written statement(s) that none of the circumstances in Article 68 of the SITC Act exists with respect to any promoter.
6.If a promoter's duties are to be exercised by a representative or designated representative, the application shall be accompanied by a written statement that none of the circumstances in Article 68 of the SITC Act exists with respect thereto.
7.[A description of the] accounting system.
8.A written statement that the application form and its attachments contain no misrepresentations or nondisclosures.

A SICE shall, within 6 months from the day the FSC grants permission, complete its company establishment registration and apply to the FSC for issuance of a business license by filling out and submitting an application form, together with the following documents:
1.Documentary proof of company registration.
2.Articles of incorporation.
3.Operating bylaws.
4.A shareholders register, and minutes of the relevant shareholders meetings.
5.A register of directors, and minutes of the relevant board of directors meetings.
6.A register of supervisors.
7.A list of the managerial officers, department supervisors, and associated persons, issued by the Securities Investment Trust and Consulting Association of the R.O.C. (SITCA) after reviewing their qualifications, together with relevant documentary proof of their qualifications.
8.Written statement(s) that all the managerial officers, department supervisors, and associated persons are hired as full-time staff.
9.Written statement(s) that none of the circumstances in Article 68 of the SITC Act exists with respect to any director, supervisor, managerial officer, or associated person.
10.A photocopy of the ownership deed or lease agreement of the place of business, and floor plans and photographs thereof.
11.Written statement(s) that the SITE has an independent place of business not jointly used by any other enterprise.
12.Documentary proof showing the deposit of an operating bond required by the Regulations Governing Securities Investment Consulting Enterprises.
13.Documentary proof of admission to membership in the SITCA.
14.A written statement that the application form and its attachments contain no misrepresentations or nondisclosures.
The operating bylaws referred to in subparagraph 3 of the preceding paragraph shall set out a system of internal management for business operations with respect to operating principles, operating procedures, segregation of authority and duties, resolution of business disputes, personnel training and education, and management/administrative matters.
The permission granted to the SICE shall be revoked if it fails to apply for re-issuance of a business license within the period specified in paragraph 1. Notwithstanding the foregoing, if there is legitimate reason, an application may be filed with the FSC before expiration of that period for a maximum extension of 6 months, one time only.
The SICE may not commence business unless and until it has become a member of the SITCA.

Upon an application to operate a SICE, the FSC may deny permission in any of the following circumstances:
1.Any circumstance in Article 68 of the SITC Act exists with respect to any promoter.
2.The application documents are found to contain misrepresentations.
3.The business plan is not concrete enough or cannot be effectively implemented.
4.Any managerial officer, department supervisor, or associated person does not meet the qualification requirements set out in the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises.
5.Any managerial officer, department supervisor, or associated person does not work full-time, thus violating the Regulations Governing Responsible Persons and Associated Persons of Securities Investment Consulting Enterprises.
6.Any violation of Article 68 of the SITC Act with respect to any director, supervisor, managerial officer, or associated person.
7.There is likelihood that the professional competence of any promoter, responsible person, or associated person is insufficient for sound and effective operation of a SICE.