What is OBU Account?
OBU (Offshore Banking Unit), is a financial institution and branch of a domestic bank, engaging in financial services. Taiwanese government announced OBU related laws and regulations to strengthen Taiwan’s international financial activities and attract foreign investments. OBU can only conduct transactions of foreign currency.
Why open an OBU Account?
Enjoy the flexibility of foreign exchange. OBU account is free from the control of foreign exchange. It facilitates the inbound/outbound funding.
Interest and gain derived from structured products transactions are not subject to withholding tax.
Financial products launched by OBU are exempted from business tax. Reservation of deposit is not required; the interest rates are negotiable and preferential for OBU’s clients.
OBU account information is more confidential and less monitored by tax and financial supervisory authorities.