To launch the Offshore Insurance Units (OIU) business in Taiwan, FSC promulgated the Rules Governing Offshore Insurance Branches on May 21, 2015, the highlights of which are summarized as follows: (1) To provide the requirements regarding the financial and operational control of an OIU, including the internal control and audit system, the risk-based capital ratio, the net worth, and restrictions on funds usage. (2) To provide the qualifications of the designated offshore banking branch manager. (3) To provide the filing requirements, compliance matters and the required reserve funds of OIU products. (4) To provide for the required approval of the FSC when an OIU seeks to remit profits overseas.