According to Paragraph 1, Article 73 of the Act Governing Relations between the People of the Taiwan Area and the Mainland Area (the "Act"), "unless otherwise approved by the competent authorities, any individual, juridical person, organization, or other institution of the Mainland Area, or any company located in any third area and invested in by Mainland persons, may not engage in any investment activity in Taiwan". To this end, the Ministry of Economic Affairs has established the Guidelines Governing the Approval of Investment by PRC Persons in Taiwan (the "Investment Approval Guidelines") to set forth the approval procedures and requirements for Mainland persons' investments in Taiwan.
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