Can a foreign national be elected as a board member, if he or she reaches the legal age according to their national’s rules and regulations?
According to Article 128 Paragraph 2 of the Company Act, “Any person without disposing capacity or with limited disposing capacity is not qualified as a promoter”. More importantly, according to Ministry of Economic Affairs Post No. 88213580 on July 1, 1999: If the promoter (foreign national) reaches the legal age according to their national’s rules and regulations, but fails to meet the Civil Code, promoter (foreign national) should provide burden of proof and certified documents in order to perform his or her role. Furthermore, according to Article 192 Paragraph 1 of the Company Act, the board member of a company shall be elected by the shareholders’ meeting from among the persons with disposing capacity. The same shall apply to a foreign national elected as a board member. If the foreign national reaches the legal age according to their national’s rules and regulations, but fails to meet the Civil Code, foreign national should provide burden of proof and certified documents in order to become a board member.
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