Regulatory Alerts2024-03-15
Added · Updated
Regulations Regarding Authorization Provisions of the Foundations Act by the Central Bank of the Republic of China (Taiwan)
These regulations establish a minimum endowment property value of NTD1.6 billion for foundations overseen by the Central Bank of the Republic of China (Taiwan). They authorize specific investment types, including unsecured corporate bonds with a twA+ or higher credit rating and exchange-traded funds with a 3% or higher dividend yield, subject to portfolio limits of 35% and 5% of available funds respectively. Foundations with total property of NTD100 million or more, or annual income of NTD10 million or more, must establish internal control systems, obtain accountant-certified financial statements, and implement a code of ethics. The regulations also set a donation limit of NTD2 million, cap employee bonuses at 4.4 months' salary, and restrict remuneration to not exceed central government minister levels.
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