Business Establishment & Registration in Korea

Setting up a business in the Republic of Korea requires legal and tax expertise. Our staff includes experienced lawyers who provide efficient establishment services so non-Korean citizens can enjoy a stable and smooth start in the country.

Business License in Korea

How to start a business in Korea

For those wishing to start a business in South Korea, the following steps are required:

  • 1) Open temporary account with a Korean bank offering foreign exchange (forex) services and report intention with authorities
  • 2) Register business address (lease agreement, etc.)
  • 3) Remit investment (initial capital) into temporary account (#1 above)
  • 4) Report incorporation to the Korean Court
  • 5) Submit application of Korean business tax ID (other licenses if needed) to the tax authorities
  • 6) Open permanent business bank account

Business in South Korea for foreigners

When reporting foreigners as investors in the Republic of Korea (ROK), certain documents — e.g. POA, copies of investor’s ID and address — may need to be notarized.

We are your one-stop provider to set up business services in Korea, including obtaining a business license in Korea (see below), so contact us today to get started.

Business license in Korea

As described above, there are numerous steps to starting a business in South Korea as a foreigner, but once a business license has been obtained, things become easier, and we are here to help.

Start up business in South Korea

If you wish to establish a business (startup) in the Republic of Korea, note that there a several different types, and we are experts at easing the process, spanning from setting up a bank account, bringing in capital, getting a business license in Korea, etc.

Setting up a Branch Office in Korea

The professionals at Korean Tax Experts can help you set up a branch office in Korea, which involves three primary steps:

  1. Appoint a representative for your branch office in Korea.
  2. Set up an account with an eligible South Korean bank that has foreign exchange services.
  3. Register your branch with the Korean court.

Setting up a branch office in Korea

Establishing a Subsidiary in Korea

If you are looking at establishing a subsidiary in Korea, we can simplify the whole process and have your operation up and running in short order. We will help you complete the following necessary steps:

  1. Make a company seal
  2. Find a suitable bank to make a capital deposit
  3. Register your company with the Korean Government
  4. Register and pay with Korea’s social security services
  5. Establish a physical space for you subsidiary
  6. Files your subsidiary’s rules and regulations for employees

 

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.

How to start a business in Korea
Small business in Korea

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