The Taiwan Financial Supervisory Commission (FSC) issued a press release today (1/22) stating that Taiwan has a globally competitive industrial foundation, abundant private wealth, and sufficient investment momentum, which are the three core advantages driving the development of Taiwan's finance and economy. The FSC has set two core goals: "emphasizing both wealth retention and capital attraction" and "investing in Taiwan to support industrial development", aiming to build an AMP management center with Taiwanese characteristics.
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ToggleFive AMP Management Strategies Unveiled: High-Asset Businesses Welcome New Opportunities
To promote Taiwan as an AMP management center in Asia, the FSC has proposed five key strategies for wealth management businesses. Expanding the development of high-asset businesses has become an important component. The FSC has recently revised the "Regulations Governing the Management of Financial Products and Services Applicable to High-Asset Customers of Banks", relaxing the sales targets for banks to issue structured financial bonds, and lowering the qualification threshold for applying for high-asset businesses, further incentivizing banks to enter the high-asset customer market.
Kaohsiung Pilot Zone Established: Local and Central Governments Collaborate
The FSC has selected Kaohsiung City as the first local AMP management pilot zone, receiving full support from the Kaohsiung City Government. The FSC encourages banks to set up business locations in the Kaohsiung zone to pilot specific financial businesses and cross-border financial services, forming a financial cluster. Through collective creativity and resource sharing, the zone will further enhance the competitiveness of Taiwan's financial industry, while guiding domestic and foreign capital into local specialty industries to drive local economic development.
Four Service Models in the Zone to Enhance Market Attractiveness
On January 16, the FSC convened a meeting, inviting the Central Bank, Kaohsiung City Government, and 19 bank representatives to discuss the conditions and business scope for banks to enter the zone, and planned four key service highlights:
1. One-Stop Financial Services
Banks in the pilot zone can provide high-asset customers with more convenient financial services, including:
– OBUs (Offshore Banking Units) handling foreign currency bond trading and private equity fund sales.
– Customers can purchase unlisted financial products through trusts, exempted from pre-listing review requirements.
2. Flexible Fund Utilization
Banks can provide high-asset customers with more diverse financing options, such as policy loans, premium financing, and collateralized lending against specific trust beneficiary rights, with loan-to-value ratios no longer subject to the 50% limit.
3. Cross-Border Financial Services
Banks can assist zone customers in conducting cross-border financial transactions, such as:
– Introducing financial products and services from overseas branches.
– Handling account opening and transaction document verification and transmission for zone customers overseas.
4. Diversified Service Offerings
Zone banks can also collaborate with the international securities and insurance business subsidiaries within the same financial holding group to provide joint account opening and marketing services. Additionally, family office-related services such as wealth management, tax, and legal consulting are included in the business scope.
Observation period of 6 months to 1 year for the special zone
The Financial Supervisory Commission (FSC) stated that the results of the pilot business will be observed for 6 months to 1 year, and if it is proven to have a positive impact on market development, relevant laws and regulations or self-regulatory norms will be further revised to ensure the legalization of the pilot business. At the same time, the FSC hopes to attract more funds to the Taiwan market through the one-stop service, flexible fund utilization, and diversified services within the pilot zone.
Vision of Asia Asset Management Center: Achieve a major breakthrough in 6 years
The FSC expects that this pilot zone can inject more innovation and vitality into Taiwan's financial industry, and pave the way for the "2-year feeling, 4-year change, 6-year success" goal. In the future, Taiwan will steadily move towards becoming an Asia Asset Management Center, continuously attracting global investment opportunities and creating new economic momentum.
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