business registration in korea

Essential Steps

Starting a business in Korea involves several essential steps:

• Open a temporary account at a Korean bank with forex services and report your intention to the authorities.
• Register your business address (lease agreement, etc.).
• Remit your initial capital into the temporary account.
• Report the incorporation to the Korean Court.
• Apply for a Korean business tax ID and any other necessary licenses from the tax authorities.
• Open a permanent business bank account.

Reporting Foreign Investors

When registering foreign investors, certain documents, like a POA and copies of the investor’s ID and address, may need notarization.

Court Registration of a New Business

Korea requires all legal companies to be registered with the Korean Court. Once your company is registered, it will be granted legal authority to operate in Korea. This registration is a crucial step to ensure your business complies with local regulations and gains legal standing.

Business License in Korea

Obtaining a business license is an essential step that simplifies further processes for operating in Korea. We provide comprehensive services to guide you through every aspect of obtaining your business license, ensuring compliance and smooth operation.

Bank Account Opening

Once the above legal procedures are completed, you can proceed with opening a bank account in Korea. Korea has strict financial regulations, but our extensive business network and understanding of current financial regulations will ensure that your company can start operations smoothly without any restrictions.

Start a business in Korea

If you are ready to start a business in Korea, the professionals at Korean Tax Expert are here to help you with all of the processes and obstacles. Get in touch today to start your business in the Republic of Korea.