South Korea — Business: Limited Company

Key facts

• A foreigner must invest at least KRW 100 million to establish a local corporation, or KRW 100 million and 10% of voting stock in an existing company.
• The steps are foreign investment notification, incorporation registration, business registration at the tax office and foreign-invested company registration.
• The foreign-invested company registration is due within 60 days of payment in full.
• The company is a Korean domestic corporation taxed on worldwide income.

Steps

1. Step 1: Choose a Business Name — Choose a unique name for the limited company that complies with South Korea's business name regulations.
2. Step 2: Prepare Required Documents — Prepare the required documents, including the articles of incorporation and a business registration application form.
3. Step 3: Register the Business — Submit the documents to the relevant authority and register the business.
4. Step 4: Obtain a Business License — Obtain a business license, which is required for all businesses in South Korea.