Investments by Foreigners and Overseas Chinese in Large Trading Concerns to Be Treated the Same as Those by ROC Citizens
Based on the principles of international fairness and reciprocity, the Board of Foreign Trade in the Ministry of Economic Affairs has decided to relax the application conditions and qualification standards for foreigners and overseas Chinese investing in large trading concerns, making them completely the same as those for ROC citizens.
At the same time, the Board has decided to relax the qualification standard for 1986 by adjusting it upward from 1985 according to the 1986 trade growth rate instead of raising it by 50 percent as originally planned. Since this year's growth rate may reach around 10 percent, the standard may increase from 1985's US$100 million in combined imports and exports to about US$110 million.
Application conditions and qualification standards for foreign and overseas Chinese investors will be as follows:
The minimum capital rate will be US$200 million. The current rate is US$300 million.
Overseas branches will have to number three or more. (The current number is six.)
The 1986 qualification standard will be the same as that for ROC citizens, or about US$110 million, as stated above. (Currently, the standard is twice that of ROC citizens.)
As to enforcement, ROC businesses which fail to meet the standard will have their qualifications revoked the following year. Foreign and overseas Chinese businesses that fail to meet the standard will lose their structural net profit interest privileges the following year. Should they fail to meet the standard for two years in a row, their investment projects will be withdrawn.
New Service Counter for Entry and Exit Permits to Be Set Up at CKS Airport
To assist ROC citizens and overseas Chinese entering the ROC, the Bureau of Entry and Exit in the Ministry of the Interior is planning to set up a counter at Chiang Kai-shek International Airport that will simplify visa and entry-and-exit permit processing.
At present, overseas Chinese entering the country through CKS Airport can apply in advance for an exit permit but must wait 48 hours to receive it from the Bureau of Entry and Exit. Overseas Chinese have frequently expressed reservations that these procedures make it impossible for them to leave the country on the day following their arrival. The new counter will cut back the processing time.
Overseas Chinese Invited to Attend This Year's Double-Ten Festivities From September 16 to November 15
The Overseas Chinese Affairs Commission welcomes overseas Chinese from all areas to attend this year's national day activities, which have been scheduled to run from September 16th to November 15th.
To assist groups and individuals wishing to attend, the Commission has put together an information booklet and distributed copies to overseas Chinese organizations around the world. The Com mission hopes that overseas groups deciding to attend the activities will submit rosters of names to the Commission as early as possible. Some of the information included in the booklet is as follows:
Activities fall within two stages. The first is from September 16th to October 21st, and the second from October 22nd to November 15th.
Groups wishing to attend should first apply to an ROC consulate or designated organization in their countries of residence which will forward their applications to the Overseas Affairs Commission for processing.
Overseas Chinese returning to China to attend the festivities are limited to Chinese and Chinese descendants holding return visas for the countries in which they reside.
Groups should best contain from 10 to 40 members. If the group contains parents, children, or spouses, this should be noted next to the names on the roster.
After a group is organized, two application forms should be filled out and submitted to the ROC consulate or designated organization along with three 2" bust photographs per person.
Groups from Hong Kong and Kowloon should fill out 15 application forms and attach ten 2"bust photos per person.
Groups will please observe the principle of arriving on Taiwan and leaving in a group.
Groups will please arrange for lodging beforehand, and stay together in the same hotel for convenience in contacting.
Further information is available from ROC consulates, designated organizations, and overseas Chinese organizations abroad.
