Long forced to send money back home through an inefficient and expensive gray-market system, migrant workers in Taiwan now have access to a growing number of convenient, secure mobile app-based remittance services enabled by recent regulatory changes. For many years, Taiwan’s financial sector paid little attention to the more than 700,000 migrant workers from Indonesia,…

A weekly snapshot of Taiwan business news stories brought to you by CommonWealth and AmCham Taiwan’s TOPICS FSC Approves Major Insurance M&A Deal The Financial Supervisory Commission (FSC) on May 31 provided its conditional approval of Taishin Financial Holdings’ acquisition of Prudential Life Insurance. The FSC’s first condition is that Taishin make a statement committing…

A proposed acquisition could be a turning point for Taiwan’s overbanked financial services industry. Last December, Fubon Financial Holdings, the second-largest financial services organization in Taiwan, announced that it was pursuing a hostile takeover of Jih Sun Financial Holdings through a public tender offer for at least 50% of the company’s shares. The offer is…

Last December, Taiwan’s Financial Supervisory Commission (FSC) announced the easing of requirements for foreign finance professionals, part of the government’s plans to make Taiwan an Asia-Pacific financial hub. The work experience requirement for senior financial executives applying for the Employment Gold Card – a special work visa that incorporates an alien resident certificate, open work…