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  • South Korea Company Registration
  • Author Date Time:2010-03-24 07:18:37
  • Compass Consulting Limited provides professional service to you for South Korea company formation and management. The detail information is as follow.

     

    Advantages of South Korea Company Formation 

    1. South Korea company formation allows 100% foreign ownership. The minimum number of shareholders required for South Korea company formation is one for a Yuhan Hoesa (limited liability company).

    2.  South Korea Limited Liability Company (LLC) formation requires a minimum of one director, with no restrictions on nationality. 

    3.  South Korea is a member of the Organisation for Economic Cooperation and Development (OECD) and has a high gross domestic product (GDP). As such, the local market is attractive for foreign investors planning South Korea company formation. 

    4.  Corporation tax has become less of a burden through the corporation tax rate cut from 25% to 20% for the tax base of 200 million Korean Won (KRW) (approximately US$170,000). A rate of 10% applies if income is 100 million KRW (approximately US$85,000) or less. Non-resident individuals are liable to personal income tax only on assessable income derived in Korea.

    5.  Non-resident individuals are liable to personal income tax only on assessable income derived in Korea.

    6.  South Korea is positively ranked as the world's 31st-freest economy in the Heritage Foundation's 2012 Index of Economic Freedom, a measure of freedom enjoyed in business, trade, monetary, financial, investment and labour markets.

    7. According to the Doing Business 2012 survey by the World Bank, South Korea is the world's 8th-easiest place to do business. The survey measures factors including business start up procedures, time, cost and minimum capital required to start a business. 

    8.  It is easy to open global corporate bank accounts to support South Korea company formation. Healy Consultants works with internationally recognized banks such as Industrial Bank Of Korea, HSBC Bank, and Korea Exchange Bank to provide corporate bank account services.

     

     

    Company name

    The company name should be only in Korean language and obey it rule.

     

    Registered Capital& paid-up capital

    A minimum capital of 10 million KRW (approximately US$10,000) is required for South Korea company formation. If it is over the amount, the extra taxation should be paid to Korea government. The registered capital should be paid up during the company registration.

     

    Director& Shareholder
    Three natural persons are needed for a Korea Company registration. Two are directors and one is supervisor. At least one shareholder is needed. All of them can be in any nationality. But if one is Korean, the person should notary one’s passport and endorsed by local Korean embassy.

     

    Registered Address
    A lease agreement for a Korea office is required by foreign investors before completing company incorporation in South Korea. A virtual office is not allowed in South Korea. The registered address can be provided by Compass Consulting Limited if needed.

     

    Business Scope

    The business scope should be approved by Korea government.

     

    Requirements Documents

    1, Confirm Company name, registered capital.

    2, prepare shareholder(s) ID or passport.

     

    Registration Process

    Procedure: Fill in the application form→sign the confirmation letter personally→pay the deposit→transact in the government→finish within 20-25 working days→All the director sign the legal document personally→submit the document to Korea government to file→pay the spare money.

     

    Compass Service

    Compass package services include: Certificate of incorporation; Memorandum and Articles of association of the company; Common seal and atomic seal; Share book; registration address.

     

    Open bank account

    After South Korea company formation, all companies are required to open an account in Korea and transfer the money in the account to do capital verification. Compass can provide professional service to you.

     

     

     

    CONTACT US

    TEL: 86-20-29050789             Mobile: 86- 18620718759 (24 hours service)  

    MSN: topcompass@hotmail.com     QQ: 859092400

    Website: www.for-copmass.com