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South Korea is located Eastern Asia and occupies the southern half of the Korean Peninsula, bordering the Sea of Japan and the Yellow Sea. Over the past four decades, South Korea has demonstrated incredible growth and global integration, and has become a high-tech industrialized economy. South Korea company formation allows 100% foreign ownership with no restrictions on nationality. The following is the general information for Korea Company Incorporation.
1. Korea Company Registration - Company Name requirement
The company name must be in Korean, other languages are not allowed to register. English company name could be used in name card and sign board while business certificate must be in Korean.
2. Korea Company Registration - Authorized & paid up capital
The minimal authorized capital is 50 million won and must be paid up. Capital need to increase when add on shareholder and there is stamp duty incur if authorized capital over 100 million won.
3. Korea Company Registration - Shareholder and Director
Minimal one shareholder and director required.
4. Korea Company Registration - Registered address
Korea Company registration required to have a local registered address.
5. Korea Company Registration - Business Nature
Foreign Investment Corporation has limitation on business nature, depend on cases.
6. Korea Company Registration - Corporate Bank account
Korea banker required the director to be present for first time bank account opening. However, Investment Capital is required to transfer to a temporary account in Korea for incorporation purpose. The Capital later on will be transferred to a “share subscription account’ for verifying purpose as an investment capital. Once company is completed and ready, the investment capital will be transferred to the company account.
7. Korea Company Registration - Compliance Procedure
Companies are required to maintain accounts and keep a register of shareholders at the registered office. These records must be kept in Korean. Annual tax returns must be filed to the National Tax Service of South Korea each calendar year.
Tannet Malaysia is an international company based in Hong Kong, Shenzhen. We provide various of business solution to those investor who would like to expand their business oversea such as international company incorporation, global trademark application, commercial secretary services, accounting and taxation and etc. We believe Tannet will be your best choice for your oversea investment. Kindly contact us for more information on our other services if you are interested!
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If you have further queries, please contact Tannet
24 hours Malaysia hotline：603-21418908;
24 hours Hong Kong hotline：852-27837818;
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Email: mytannet@gmail.com
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