[Last updated: 1 February 2026, unless otherwise noted]

Primary listing requirements. Any company applying for a primary listing must have at least five board members and at least three independent directors, at least one of whom must be domiciled in Taiwan. The number of independent directors must not be less than one-third of the total number of directors. In addition, for a foreign issuer applying for a primary listing,  at least two directors must be domiciled in Taiwan. However, for a foreign issuer whose principal operations or control are located in Mainland China, Hong Kong, or Macau, in addition to complying with the above requirements, more than half of its board members must be individuals who have household registration in Taiwan. Where a corporate shareholder is elected as a director, the determination shall be based on its ultimate beneficial owner.

The issuer must have an audit committee. The audit committee must include all of the independent directors and must have at least three persons, one of whom will serve as the convener of the audit committee. The issuer must also establish a compensation committee, which should consist of three members appointed by the board of directors.

The issuer must submit a self-assessment report on its corporate governance. The report is to be assessed by the underwriter, which will provide an opinion on the report.

Secondary listing requirements. No similar provision applies to a secondary listed company.

Ongoing requirements. After listing, there are no additional similar corporate governance requirements for foreign issuers.