Export and Import Business in Korea

Date: May 7, 2021

I. Corporation establishment

Establishment,licensing, business registration

(1) Company name

If there is the same company name registered toa register office having jurisdiction over the place of payment it is not possible to register the same name. Therefore, it is recommended to check whether there is any company which registered the same company name.

(2) Place of address of the headquarters

Business registration is available only whenthe lease contract for head quarter office under the name of corporation is provided.

(3) Purpose of business

The purpose of business should be stipulated ina certified copy of the register and articles of association. Each time when a purpose of business is added to a certified copy of the register and articlesof association fees and taxes are also added. Therefore, it is recommended to write as many purpose of business as possible.

(4) Capital

Corporation can be established with the capital of 100 won. However, when a place of business is rented the initial operating costs before making profits and the deposit for lease should be considered when deciding capital volume.

(5) Board members

Directors and auditors should be listed on a certified copy of the register. In principle, when a company is established three directors and one auditors should be appointed. However a company withthe capital of 1 billion won can have fewer than two directors and appointment of auditors is an option.

(6) Composition of shareholders

Shareholders refer to the owner of a corporation and the person who made transfer capital for establishment. Under the commercial law, there is no limit in the qualification of shareholders and number of shareholders. Therefore shareholders can be one person and the representatives of corporations can have shares.

(7) Required documents

Article of association, deposit certificate,certificate of seal impression, legal seal, seal of shareholders

(8) Application for corporation establishment

Electric application and document registration

II. Business registration

After corporate registration, business registrationis applicable at a tax office.

￭ Requireddocuments

- Application form for business registration

- Certificate of corporation registration

- Certificate of corporate seal

- Article of association

- Lease contract under the name of corporation

- Corporate seal

 

Learn more about Korean tax system by visiting our website

 

게시글 SNS 공유