FAQS ON COMPANY INCORPORATION
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What documens have to be prepared for companyformation in Korea?
Original seal certificates of shareholders and directors
Photocopies of passports of shareholders and directors
Copies of identity cards of shareholders and directors
Photocopy of the house lease contract in the place of registration in Korea (or the original house use consent issued by the real estate owner)
Capital verification certificate under the legal person's name (after remittance of capital) What are the annual filing requirements for companies incorporated in Korea?
Even if it's a sleeping company, VAT must be filled in quarterly;
After establishing an enterprise in Korea, the annual tax return must be submitted to the Korean national tax administration before March 31 of each fiscal year. What basis conditions of Korea company setup?
One Director (regardless of nationality)
One shareholder (stateless restriction)
A company supervisor (must be appointed for the establishment of a joint-stock company, and we can act as the company supervisor in your name)
A registered address
Unlimited registered capital, at least one share issued Shall I actually subscribe registry capital of Korea Company?
Yes, but registered companies in Korea have no limit on the amount of capital and can set the amount freely. However, if the registered capital is too small, the external trust will be reduced, especially when applying for the company's bank account. On the contrary, if the registered capital is too large, the registration license tax and local education tax will be very high. How long does it take to setup a Korea company?
In most cases, it takes about 5-7 working days to set up a company in Korea. However, if you are located overseas, the establishment time may take longer due to procedures such as signing and sending company related documents. Can I setup a one-person company in Korea?
Yes, the minimum number of people to establish a limited liability company (LLC) in Korea is one shareholder / Director. However, if you need to establish a "corporation" (joint stock liability company), you must have a director and a supervisor (the secretary must be a Korean nationality or a foreigner holding a Korean Green Card). I don't have a Korean ID card. Do I have to find a Korean partner to set up a company?
No, South Korea allows foreigners to act as the company's legal representative and hold 100% of the company's shares. Do I have the exclusive right to use the company name as a trademark?
No, Business registration and trademark registration in Korea play different roles. They are regulated by different laws and managed by different government departments. If you want to obtain the protection of Korean registered trademarks, you should apply to the licensing office for trademark registration. Can foreigners / non Korean residents register Korean companies?
Definitely you can, Shareholders and directors are not required to be Korean citizens or live in Korea. |
FAQs on Trademark Registration
FAQs on Trademark Registration
FAQs on Accouting & Taxes
FAQs on Accouting & Taxes
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