Similarities and differences between OBU and DBU business
Similarities and differences between OBU and DBU business
First, the definition of
(A), the so-called OBU
Taiwan's government to strengthen the international financial activities, and can become a regional financial center, on November 29, 1972 by the Legislative Yuan passed the "international financial services regulations," the same year on December 12 for implementation. The following year on April 20 the Ministry of Finance issued the "Implementation Rules of international financial business" as the financial industry in Taiwan to set up offshore banking, offshore financial operations (OFF-SHORE BANKING) based primarily on business, so called offshore financial business unit (OFF-SHORE BANKING UNIT), referred to as OBU.
(B), the so-called DBU
According to Taiwan's "central management of the designated banks handling foreign exchange business approach" The second article, "Where domestic banks in Taiwan, among other laws that have provided, in accordance with the Banking Act and the Regulations, apply to the central bank to handle foreign exchange business bank. (hereinafter referred to designated banks). " Article III provides that "the Central Bank after receiving the application, review and approval shall be given specify the certificate. Specified certificate should indicate the approved scope of business."
Accordingly, the proposed import and export companies using bank import business, the first condition to be chosen by the central bank foreign exchange bureau certificate issued to the designated bank designated bank.
Designated foreign exchange banks in accordance with the provisions of "domestic" foreign exchange business, as the distinction between "offshore" business reasons OBU called DO-MESTIC BANKING UNIT, referred to as DBU.
Second, the distinction between business
(A) OBU
International financial services regulations by Article IV, Offshore Banking operating businesses are as follows:
1, receiving domestic and foreign individuals in Taiwan, corporations, government agencies or financial structure of foreign exchange deposits.
2, handle the Taiwan domestic and foreign individuals, corporations, government agencies or financial institutions, foreign currency credit business.
3, for Taiwan domestic and foreign individuals, legal persons, government agencies or financial institutions, sales of foreign currency bonds issued by the Bank and other debt instruments.
4, handling domestic and foreign individuals in Taiwan, corporations, government agencies or financial institutions, foreign securities trading procedures and agency business.
5, handling domestic and foreign individuals in Taiwan, corporations, government agencies or financial institutions, foreign currency letters of credit issued, notification and bills and import and export collections.
6, go through the branches and other financial institutions and Taiwan's personal, corporate, government agencies or financial institutions, foreign exchange, foreign exchange, capital securities lending and foreign currency trading.
7, processing securities underwriting business in Taiwan and abroad.
8, foreign currency loans debt management and accounting business.
9, Taiwan's domestic and foreign individuals, corporations, government agencies or financial institution and the forefront of all business-related custody, agency and consultancy business.
10, handled by the competent authority of other foreign exchange business.
(B) DBU
The designated banks under the Taiwan Central Bank foreign exchange business approach Article: "designated by the central bank's permission, for the following foreign exchange business."
1, the export foreign exchange business
2, import foreign exchange business
3, the general export and import remittances
4, foreign exchange deposits
5, foreign currency loans
6, foreign currency payment guarantees to ensure business
7, specified and commissioned by the Central Bank and other foreign exchange business
Third, the different clients
(A) OBU side
International financial services regulations by the provisions of Article IV, acceptable and abroad to individuals, legal persons of the deposits, loans, currency exchange business, but other than that the central bank special permission, the territory of personal, corporate tax exemption than not, the movement of funds still limit, so the current clients are:
1, foreign natural persons: a foreign passport without residence in the territory of the individual.
2, foreign legal persons: legal organization registered under a foreign legal person.
(B) DBU area
Taiwan's central bank issued in accordance with the designated foreign exchange bank shall note, the service object with the relevant provisions:
1, the export foreign exchange business:
Export foreign exchange, collection and receivables purchase business.
With Office document: should be provided with the transaction documents to the customer.
2, import foreign exchange business:
With Office files: open, according to the letter of credit, processing, collection, bill acceptance and settlement, should be provided with the transaction documents to the customer.
3, export and inward remittance business:
(1), outward remittance business:
A, with Office documents: to be with companies, corporations, organizations or individuals fill out the relevant documents and identification documents or proof of registration process; and note the following:
a, the order Purchased shall be according to the "foreign exchange balance or transaction reporting method" for processing. Designated banks reporting obligations should be counseling people really informative reporting.
b, without obtaining government-issued "ARC" to obtain foreign natural or legal persons registered in Taiwan, foreign license, the settlement of purchase should be handled in accordance with the following items:
(A). Foreign natural persons to apply for settlement of purchase should be with the relevant proof of identity in person.
(B). Foreign financial institutions to apply for settlement of purchase should be authorized to declare one of Taiwan's financial institutions.
(C). Other foreign legal entities in handling settlement of purchase, should authorize its representative or agent in Taiwan to declare one.
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