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Incorporation Service

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Requirements List

  • (Step by Step)
    To Selim Tax-Accounting Firm
    No. The Preparation and Document list
    1 Company Name (1) (2) (3)
    ☞ Preparation of optional Co. name(if the Co. name is already listed, it can't)
    2 Address of Office  
    3 Report of Foreign Direct Investment
    (In case of Foreign Company
    invest in Korea)
    ⇒ Foreign Exchange Bank
    ※ Confirmation of the required reporting business.(over KRW 100 Mil.or10 % shareholding)
    1. Acquisition of Newly Issued Stock by a Foreign Investor 2 sheets (Attached) - CTA
    - Notarized Investment POA (Comprehensive POA Incorporation/Bank Account Etc.)
    - Resident Certificate of Foreign Investor(Passport copy, Commercial & Business Registration)
    - Information Use Consent (Attached) - CTA
    ⇒ If foreign exchange bank approved, "Certificate of Foreign Direct Investment(FDI)" is issued
    4 Remittance of Investment fund
    (After the approva
    of foreign investment)
    1. Investment Fund is Foreign Currency(Fund Remittance or cash carried via Customs)
    ※ Sender = Receiver = Foreign Investor ( must be united.)
    ※ Marked for Fund purpose : Investment fund to establish"ABC Korea Co., Ltd."
    2. Issued the certificate of Foreign Currency purchase - Foreign Currency Bank
    3. Certificate ofstock purchase and custody based on the exchanged Korean Won - Bank
    5 Incorporator and Subscriber
    (Member of board of director
    BOD member name Shareholding Relationship If incorporators(0) If Subscriber(0)
    Rep Dir
    (Foreigner)
      %      
    Director   %      
    Director   %      
    Auditor   %      
               
    ※ Amount of Paid-in-capital ? (Capital :      KRW)
    ※Generally it requires min. 4(Four)-incorporator (More than 3 )and subscriber (more than 1 ),
    However if PIT is less than KRW 1 billion, 1 incorporator and 1 director are possible.
    (2 persons need)
    6 Business
    Purpose (AOI)
    (1) (2)
    (3) (4)
    (5) (6)
    ※ Please fill out the current and future business nature
    7 Preparation
    Documents List
    (1) Preparation for
    registration
    to Ministry of
    Justice
    ⇒ For Director
    Division Preparation Documents Entry No entry
    Rep.
    Director
    (Foreigner)
    Except.
    Japan
    1. Letter of Acceptance(Form) Signature/Notarization X O
    2. Report of Seal (Form) Signature/Notarization X O
    3. Power of Attorney(Form) X O
    4. Copy of Passport O O
    5. Certificate of Resident in home country O O
    Director,
    Auditor
    (Foreigner)
    1. Letter of Acceptance(Form) Signature/Notarization X O
    2. Notarized POA(Form) - Auditor : No need X O
    3. Copy of passport O O
    korean Certificate of seal-2, Copy of Social Security-2 The same as Korean
    Selim Tax-Accounting Firm T)02-854-2100 F)02-854-2514(Digital), T)02-501-2155 F)02-854-2516(Gangnam)
  • No. The Preparation and Document list
    1 Preparation
    Documents
    List(1)
    (Registration to Ministry of
    Justicee
    ⇒ For shareholder
    Division   Entry No entry
    Foreigner
    (Individual)
    1. Notarized POA 3 sheets
    (For FDI report, For AOI & Shareholder's meeting,
    for reserve)
    X O
    2. Copy of passport O O
    Corporate
    Entity
    1. Notarized POA 3 sheets
    (For FDI report, For AOI & Shareholder's
    meeting, for reserve)
    O O
    2. Certificate of Foreign Entity residence - 2 sheets
    (Copy of Commercial registration, Copy of business
    registration)
    O O
    2 Preparation
    Document List(2)
    (Documents issued during
    the registration
    ⇒CTA
    Name of Documents Q'ty Name of Documents Q'ty
    1. Copy of Commercial Registration 1 sheet 5. Copy of Company seal 1 sheet
    2. Copy of AOI 1 sheet 6. List of shareholders 1 sheet
    3. Copy of minutes of
    Shareholder's meeting
    1 sheet 7. Certificate of confirmation for
    deposits of PIT
    1 sheet
    4. Copy of minutes of BOD's
    meeting
    1 sheet    
    ※ The documents issued during the registration is required to report to National tax Service.
    3 Application
    Business
    registration to
    National
    Tax Service
    (After the
    commercial
    Registration
    ⇒CTA
    Name of Documents  
    1. Application for incorporation and business registration 1sheet
    2. Copy of Commercial Registration 1sheet
    3. (Under new Co. name) copy of Rental/Lease Agreement 1sheet
    4. List of shareholders and investors 1sheet
    5. Certificate of Foreign Investment Report 1sheet
    6. Certificate of business permission, registration, report (if applicable) each
    1sheet
    7. List of investment in kind (if applicable) 1sheet
    ※ If it need other than the above, need to discuss with us.
  • [Notice for preparation] - For the Foreign Investment Company
    1. Company name,
    (1) If possible, please prepare the second Co. name except the preferred name.
         (It's impossible to register the same purpose& the same name)
    (2) Please inform new Co. name 5 days in prior due to checking the name in the MOJ.
    2. Location of company (Headquarter)
    (1) As a rule, 1 (one) location is 1 (one) business entity.
          Exceptionally if the present entity and owner are approved, it's possible.
    (2) If rented officetel & etc, except a few business type it's not approved multiple business entities in the same location.
    3. Foreign Investment report As a rule, over KRW 100 million and
        over 10 % shareholding are subject to foreign investment report.
    (1) If want to set up the business entity in Korea, in advance you have to get the approval of foreign
          investment from foreign exchange bank. Generally it takes 1 ~ 2 days to review and issue.
    (2) Preparation Documents in local have to prepare the foreign investment report 2 sheets and information use consent,
          in the home country you have to prepare the certificate of nationality as a foreign investor( CR or BR, etc.) and
          Power of Attorney (Notarized in Home) which have to contain the cause " xx Co or I assign the legal power for
          the set up of company, opening of bank account and the related works and then courier to Korea.
    4. Investment Fund Remittance
    (1) During the approval of foreign investment report, the investor have to get the approval from Home country
          and prepare the remittance to Korea.
    (2) The approved fund can be received from bank transfer and hand-carry which needs to report for investment to Korean Customs Service.
    (3) When remitted, you have to use the same name ( Sender = Beneficiary = Foreign Investor's name)
    (4) When you fill out the purpose of fund in bank :" Investment Fund to establish ABC Korea Co., Ltd.".
    5. Incorporator and Subscriber
    (1) In general, it's required the incorporator and needs more than 1 person.
          If the paid-in capital is less than KRW 1 billion, it's possible to incorporate only 1 (one) director.
          If PIT is over 1 Billion, 3 directors and 1 auditor.
    6. Purpose of Business
    (1) Please fill out the purpose of your business which will be listed the commercial registration and the same
          as the Article of Incorporation. The purpose can be filled out your current business and future business line.
    (2) It's possible to change in the future (as per the resolution of shareholder's meeting)
    7. The Documents preparation for Incorporation Registration
    (1) The required documents are different Rep. Director, Director and Auditor : Alien or Korean : Entry to Korea or not.
    (2) Shareholder : the required documents are different from Alien or Foreign Entity / Entry to Korea or not.
    (3) In case of Japan and Taiwan, have to prepare the commercial registration, personal Seal and ID Card.
           the same as Korean.
          => Notarization date for a foreign company (D-day):
          If investment transfering is confirmed and needed documents (notarizaiotn Apostille documents etc) are prepared,
          make a date for a establishing foreign company notarization.
          Meet judicial scrivener who will proceed notarizaiton at the company or other places with prepared documents
          (notarization apostille documents, passport, identification card etc, If board member is Korean seal certificate, seal stamp is needed).
    8. Application for Business Registration No.
    (1) If finished the commercial registration(MOJ), company have to apply the Business Registration No. to NTS.
    (2) Company have to change the CR name of rental or lease agreement from personal name or provisional Co. name.
    (3) If the business types are required the relevant permission, license or registration from Korean government,
          please proceed it in advance. If you do not get it, it's possible to attach the application form.
    (4) In principle BR No. will be issued 3 ~5 days after the application.
    (5) If you get the BR No. from NTS, you can start & operate the own business.