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Incorporation Service

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Incorporation Procedure

  • 01. The prior consulting
    • Kick-off meeting which is intending to incorporate new company
    • Understanding of Client's basic information
    • Confirmation of business type and purpose in the Articles of Incorporation
    • Confirmation of BOD's member
    • Confirmation of Paid-in Capital, member of Shareholder, source of fund and etc
  • 02. Preparation of Company Setup List and Guidance of Documents List
    • Based on the prior consulting, the specific setup stage are proposed by the preparation of Company Setup List
    • Guidance of the required documents for filing the commercial registeration.
  • 03. Preparation of initial Capital and assignment to Selim
    • Guidance of the Paid-in-Capital's transfer and certificate of Bank balance till the date of registeration filing.
    • Assignment to Selim which is guided to file the registration in advance
  • 04. Report to Ministry of Justice
    • Report to file the company setup in due course
  • 05. Report to National Tax Service(NTS)
    • After finishing the company registration, Selim will proceed the business registration at National Tax Service.
    • To prepare the office rental agreement.
Subject
How to Set up a Business in Korea
Writer
Manager
Hits
817
Date
2016-06-20

How to Set up a Business in Korea

Classification

Foreign Direct Investment(FDI)

Branch

Liaison Office

K100M and above

Under K100M

Basic concepts

Legal basis

Foreign Investment Promotion Act *1)

Foreign Exchange Transactions Act

Foreign Exchange Transactions Act

Foreign Exchange Transactions Act

Nature of Company

Domestic Company

Foreign Company

Foreign Company

Scope of Activities

Management activities

Including Sales activities

Management activities

Including Sales activities

Non-Sales activities only

Identity

Separate Identities

Investor and FDI Company

(independent A/C & closing process)

Same Identities

Head office & Branch

(same A/C and closing)

Same Identities

Head office & Liaison

(same A/C and closing)

Company Setup Process

Investment

Capital Fund

Min.

KRW 100 million *2)

Under

KRW 100 million

N/A

N/A

Report

O

(FDI Report)

O

(Report on acquirement of securities

by non-resident)

O

(Branch Setup Report)

O

(Branch Setup Report)

Transfer of

Capital Fund

O

N/A

N/A

Representatives

O

O

O

Board of Directors

  O *3)

N/A

N/A

Registration of  Incorporation

(Office of the Court)

O

N/A

(Branch registration: O )

N/A

(Branch registration: X )

Business Registration

(Tax office)

O

O

N/A

(Certificate of Tax Identification Number)

FDI Company Registration

O

N/A

N/A

N/A

. . .

Please refer the enclosed for more information.


This material is for your reference ONLY, and is NOT subject to release to the others at the cost of charge.
All copyrights on this material are reserved by
Selim Tax-Account Firm.

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