Invest KOREA
Consultation for investment
- Consultation for foreign investment(real estate, M&A, establishing factory/moving to the industrial complex, small business, environment, construction, traffic,national tax/customs)
- Guide to tax benefits and investment environment of each region
- Agency aid for selecting factory site and establishing factory
- Administrative support for immigration control, business registration, corporate establishment and check the completion of investment in kind
Applying for Notification of Foreign Investment
- Reporting method : The investing foreigner or the agent applies (Power of attorney is required when the agent does this)
- Required documents
- Two copies of the Notification of Foreign Investment by the acquisition of new shares, equity, etc.
- One copy of a Certificate of Nationality One copy of the additional documents as below to be attached when necessary
- Evaluation certificate for industrial property rights issued by technology evaluation agency
- Remaining assets certificate after liquidation of corporation or the branch office
- Certificate of refund for a loan and/or other debts from overseas
- Documentary evidence of proceeds obtained from the disposal of shares and real estate
- Documentary evidence of contribution to the nonprofit organization
Where to apply
- Domestic banks
- Domestic branches of designated foreign banks
- Invest KOREA, domestic branches and 35 overseas branches of KOTRA
Submission of other documents
- When applying for notification of foreign investment, tax reduction/exemption can be also filed.
Before applying for notification of foreign investment or tax reduction/exemption, please check whether the related investment meets the criteria for tax reduction/exemption: International Economic Policy Division, The Ministry of Strategy and Finance (Tel: 02-2150-2623)
- Application period of tax reduction/exemption,
- New investment : within end of the taxation year of the day business commences
- Capital increase : within 2 years after reporting the date of foreign investment
pointWhen application is made after expiration, tax reduction/exemption will be allowed only for the remaining period.
Issue of notification certificate(immediately)
- Capital goods investment in kind
- Capital goods import itemized account check is required by the president of KOTRA or foreignexchange banks(application is to be made to Invest KOREA or foreign exchange banks)
- On its completion of investment in kind, completion confirmation is required (issued by the official of the Customs Service stationed at Invest KOREA)
- Cash investment
- Remittance of invested funds to domestic foreign exchange bank
- To be hand-carried through customs
Invest KOREA performs agency work for application
Registration of incorporation
- Required documents (for new corporation)
- Application for establishment of corporation and notarizedcompany charter
- Share acceptance certificate and application for stock
- Investigation report of directors and auditor and related documents
- Inaugural meeting minutes and board of directors’ meeting minutes regarding the representative director
- Notification certificate of foreign investment and payment certificate for share acquisition issued by bank
- Inspector’s report or certificate of investment in kind (if applicable)
Where to apply
Application for Foreign-invested company registration
- Required documents
- Application for foreign-invested company registration
- Corporate registration(business registration for private business)
- Certificate of foreign exchange purchase(receipt/deposit).Certificate evidencing the completion of investment in kind is required for capital goods
- Summarized plan of research business, status of research staff, details of facilities (in the case of nonprofit corporations in the field of science and technology)
Invest KOREA
Establishment of factory
- Survey of site
Permits required to establish factory and commence construction Selection of site business
- Establishment
- En bloc permits (10) factory
- Approval for factory establishment, construction permit,
- Preparing approval for small and medium business plans, etc., business plans
- Individual permits (97)
- Permits related to the operation of a business
- Applicants can prepare and submit the above to Invest KOREA
Completion of establishing a company with foreign investment (start of production and sales)
- Registration of changes in the company with foreign investment (within 30 days of the occurrence of the change) The following are applicable.
- Acquisition of shares by mergers, etc.
- Transfer or capital reduction of shares
- Change of company name, title, address of company with foreign investments
- Change of name or title of foreign investor, change of nationality of foreign investor, change of amount/ratio/method/business of foreign investment
- Change of share transferor