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  1. Foreign Investment Report
  2. Remittance of foreign investment funds
  3. Company incorporation registration
  4. Business registration and incorporation report
  5. Transfer of paid-in capital to corporate account
  6. Registered as a foreign-invested company
  7. D-8 visa issuance
  1. Reporter: Foreign investor or agent (power of attorney)
  2. Reporting place: The head office and branch of a domestic bank designated as a foreign investment notification and follow-up management authority, and a domestic branch of a foreign bank
  3. Documents to be submitted
    1. 2 copies of foreign investment notification by way of acquisition or contribution of stocks, etc.
    2. Certificate of nationality of foreign individual investor (copy of passport)
    3. In case of foreign corporate investor, corporate certificate (certificate issued by a foreign administrative agency, that is, the Ministry of Commerce, etc.)
    4. Power of Attorney (in case of reporting by proxy)
  4. Processing period: immediately
  1. Remittance method: bank transfer or carry-on to customs (in the case of carrying in your possession)
  2. Opening a remittance account
    1. Open a non-resident foreign currency account (external account) to remit money or use a temporary number given by a foreign exchange bank
    2. When using a temporary number, it is possible to send and receive funds only with the recipient and recipient bank information without an account number.
  3. After remittance, exchange money and deposit it in the stock payment storage account (the securities subscription margin account)
  4. The bank issues a certificate of deposit payment, and this certificate is required for company incorporation registration.
  5. Although each bank is different, it is necessary to check in advance as notarized copies of the articles of incorporation, minutes of the inaugural general meeting, minutes of the board of directors, etc.
  1. registration period
    1. Recruitment and establishment: within 2 weeks from the end of the inaugural general meeting
    2. Incorporation by erection: within 2 weeks from the date of completion of the investigation on the progress of establishment
  2. Major decisions before registration
    1. Promoter composition
      1. Corporations need at least one promoter
      2. A promoter is a person who has signed or sealed the articles of incorporation (Commercial Act Article 289)
      3. Promoters must take over stocks (one share or more) in writing, and thus promoters become shareholders of the newly established company (Commercial Act Article 293).
    2. Prior confirmation of the same name
      1. You can find out whether other people are using the same trade name you want to use when establishing a corporation in advance on the Supreme Court website (www.iros.go.kr) “Find a corporation name”.
  3. Preparation of necessary documents for registration
    1. Application for registration of establishment of a corporation
    2. Articles of incorporation (notarized, provided, however, that the notarization obligation is exempted in the case of establishment by promotion of a company with a capital of less than 1 billion won)
    3. A document proving the purchase of shares
    4. Stock subscription form (in case of establishment by offering)
    5. Agreement on issuance of shares
    6. Agreement to shorten the period of convocation of the inaugural general meeting (in the case of establishment by recruitment of a company with a capital of less than 1 billion won)
    7. Minutes of the inaugural general meeting (at the time of establishment by recruitment) or the minutes of the promoters’ meeting (at the time of establishment by promotion) notarized
    8. Minutes of the Board of Directors (same as in the preceding paragraph)
    9. Certificate of deposit and storage of share capital
    10. Director’s audit or audit committee’s investigation report
    11. Property delivery certificate (in the case of investment in kind)
    12. Notary’s Perverted Establishment Report
    13. Appraisal by a certified appraiser
    14. A copy of the inspector’s investigation report
    15. Foreign Investment Report Certificate
    16. acceptance letter
      1. Koreans: After sealing the seal, attach the seal certificate and resident registration certificate
      2. Foreigners: Notarized original of signature and proof of address, and a copy of passport
    17. seal registration form
    18. Translation (when required documents such as an executive’s acceptance letter are written in a foreign language)
    19. Registration tax receipt confirmation (invoice issued by the tax department of the ward office where the head office is located)
    20. Supreme Court income certificate
    21. Power of Attorney (if requested by an agent)
    22. Each individual seal of executives and promoters (including foreigners)
    23. corporate seal stamp
    24. Application for corporate seal card issuance (after registration of establishment)
    25. Items 11, 12, 13, and 14 are for in-kind investments, etc.

When registering a business and reporting incorporation at the same time

∗ Usually, the notification of incorporation and the application for business registration are filed simultaneously on one sheet of paper kept at the tax office.

  1. Where to apply: Tax office having jurisdiction over the location of the head office or KOTRA (competent tax office is limited to Seoul)
  2. deadline
    1. Business registration: within 20 days from the date of business commencement
    2. Report on incorporation: within 2 months from the date of registration of incorporation
    3. In most cases, business registration and corporate incorporation report are processed at the same time by the competent tax office.
  3. Required documents
    1. Incorporation report and business registration application
    2. Original copy of corporate registration
    3. A copy of the articles of incorporation (in case of investment in kind, attach the specification of the object of investment)
    4. Original shareholder or investor statement (stamped with corporate seal)
    5. Copy of business license, etc. (in case of business requiring permission, authorization, report, etc.)
    6. A copy of the lease agreement (if the business is leased)
    7. In the case of renting a part of a commercial building, additional drawings of that part must be submitted (limited to rentals with a deposit of 400 million won in Seoul, 300 million won in overcrowding control areas in the metropolitan area, 240 million won in metropolitan cities, and 180 million won in other areas)
    8. Etc
      1. Report on setting up a tax manager (when there are no executives and employees to handle tax-related matters in Korea)
      2. Copy of foreign currency purchase (deposit) certificate
      3. Present your alien registration card or original passport and submit a copy (if the representative is a foreigner or permanent resident)

In case of business registration first

  1. Generally, the notification of incorporation and the application for business registration are filed at the same time.
  2. When a foreign investor establishes a corporation by making an investment in kind, a business registration certificate is required to receive a refund of VAT upon customs clearance of the object of investment in kind.
  3. In this case, the business registration application documents are
    1. Business Registration Application
    2. A copy of the promoter’s resident registration
    3. Copy of lease agreement
    4. A copy of the business license application (if applicable) or business plan
    5. When applying for business registration, a certified copy of the corporation registration is not submitted, and all other necessary documents must be submitted after the establishment of the company.

When the company incorporation registration and business registration procedures are completed, the newly established company acquires corporate personality, and only then can the paid-in capital stored in the bank be transferred to the newly established company account.

♦ When transferring paid-in capital to a new account, a certified copy of corporate registration, certificate of corporate seal, corporate seal, copy of business registration, seal to be used in bankbook (individual/corporate), and original ID of the CEO are required, and each bank requires different documents. .

  1. Registration place: Institution that has reported foreign investment
  2. Registration deadline: within 3 days from the completion date of payment of the object of investment
  3. Documents to be submitted
    1. Foreign-invested company registration application
    2. Original copy of corporate registration
    3. Copy of foreign currency purchase and deposit certificate
    4. shareholder register
  4. Upon application with the above documents attached, a foreign-invested company registration certificate is issued immediately. This registration certificate is required for the following purposes.
    1. For overseas remittance of investment negligence ∗ For reference, if you have a copy of the foreign-invested company registration certificate, a resolution of the board of directors (including dividends), and financial statements audited by a certified public accountant, you can remit the investment negligence. lose
    2. When an investor applies for a long-term residence visa (D-8 visa)

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