BUSINESS REGISTRATION
South Korea is a country that welcomes foreign investment and has implemented a support-focused foreign investment promotion policy. Thus, starting a business or registering a company in South Korea is possible for almost any foreign investors without restraint.
Business Registration Procedure
01
Foreign Exchange
Bank Notification
02
Incorporation
Registry
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03
Tax Registration
04
Bank Account
Open
J&J Korea is specializing in establishment and registration of foreign businesses and companies in South Korea.
Features of a South Korea Incorporation:
No Residency Requirements for Directors
Lower business tax rate
Low incorporation and maintenance fees
Incorporation can be completed in as fast as 2 weeks.
We assist
Consultation to choose the right type of company and to list required documents
Authorization and Permission
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Issuance of Business Certificates
VISA application for the foreign managers
FAQ
How to Register a Business in South Korea?
To register a business in South Korea, you need to choose your business type, select a unique name, register with relevant authorities, obtain a Taxpayer Identification Number (TIN) from the National Tax Service, gather required documents, submit your application, pay fees, and receive your Certificate of Business Registration.
Can foreigners register their business in South Korea
Yes, foreign investors can absolutely register their business in South Korea. The country actively welcomes foreign direct investment with supportive policies and various business structures available. While there are specific procedures and some restricted sectors, foreigners can own 100% of their business (except in a few regulated sectors such as defense, media or telecom where restrictions may apply) and benefit from incentives like tax reductions and special economic zones.
What are the general benefits of business registration in South Korea?
Registering your business provides crucial legal protection for personal assets and enhances credibility with partners and customers. It opens doors to government resources like grants and loans, and offers legal/administrative support. Registration also improves business opportunities through partnerships, ensures tax compliance, and grants access to specialized and ongoing business support services.
What is a Business Registration Certificate in Korea?
A Business Registration Certificate is an official Korean government document proving a business's legal existence and registration. It's crucial for various operations like opening bank accounts, signing contracts, and obtaining necessary licenses. This certificate ensures your business is recognized and legally compliant within South Korea.
What are the general benefits of business registration in South Korea?
A Business Registration Certificate is an official Korean government document proving a business's legal existence and registration. It's crucial for various operations like opening bank accounts, signing contracts, and obtaining necessary licenses. This certificate ensures your business is recognized and legally compliant within South Korea.
What should I consider before choosing a business type in Korea?
Before choosing, consider various business types like local, FDI, branch, or liaison offices. Evaluate their implications on commercial activities, registration requirements, and capital investments. Also, factor in worker nationality, headquarters location, and relevant trade agreements between Korea and other countries.
What are the steps to apply for a Certificate of Business Registration in Korea?
First, determine your business type and choose a unique name. Then, register your business with relevant authorities and obtain a Taxpayer Identification Number (TIN). Next, gather all required documents like the application form and proof of address. Finally, submit your application, pay any fees, and await your certificate.
What is a Business Registration Number (BRN) in South Korea?
The Business Registration Number (BRN) is a 10-digit unique identifier issued by the National Tax Service (NTS) after your company is registered. It is absolutely crucial for all tax-related matters, enabling proper filing and deductions. The BRN is also essential for various other official business activities in South Korea.
How J&J Korea can help with business registration in Korea?
We at J&J Korea, offer expert guidance through complex registration processes, ensuring full compliance. It saves significant time and cost by avoiding delays and errors. We also provide specialized knowledge in legal, accounting, and HR aspects, and offer ongoing support for various business operations.