Company Registration in Korea, Company Formation in Korea, Company Incorporation in Korea, Foreign Company Registration in Korea, Foreign Company Formation in Korea, Foreign Company Incorporation in Korea, Company Registration Process in Korea, Doing business in Korea, Foreign Direct Investment in Korea, Foreign Investment Guide Line in Korea, Foreign Branch/ Liason office open in Korea
S & F CONSULTING FIRM LIMITED is an international business/ company registration consultancy firm.
Foreign Company Registration (100% Foreign Investment, Joint Venture, Virtual/ Branch/ Liason Office, Foundation), Taxation, Accounts & Audit, Legal, Company Secretarial & Management Consultancy.
Company Registration/ Formation/ incorporation in Korea, Foreign Direct Investment in Korea-FDI, FDI in Korea, Doing Business in Korea
Company Formation / Registration in Korea
Subsidiary company registration:
100% owned foreign share company is allowed to register business in Korea as law & terms of business in Korea.
Branch Establishment Registration
Under the Commercial Act, the establishment and registration of a business office is required, where a foreign company carries out business in Korea. An office under the Foreign Exchange Transactions Act is not allowed to conduct sales activities but information exchange, etc. Therefore, only branches can be registered as a business office.
For foreign companies to do business in Korea, they shall appoint representatives, establish business sites, and have one of executives based in Korea. (Commercial Law article 614)
Application form shall be attached with the following files (Commercial Registration Act article 112) (Commercial Registration Act article 112)
1. Statement that certifies the existence of headquarters
2. Statement that verifies qualifications of representatives (ex: appointment certificate or board of director act)
3. Article of association or statement that certifies character of a company
4. Application form for seal registration of representatives in Korean office (arbitrary)
All the files shall be certified by consuls of respective nations in Korea or competent offices. The Supreme Court of Korea recognizes the document legalized by consuls in Korea. But in some cases, the court does not recognize documents legalized by competent offices in respective countries, and requires the certification of consuls. However, it is just for enhancing authenticity of documents, and is not a requirement.(It is true for individual examination of registration civil servants)
In case where a mother country of a foreign company joins the Convention Abolishing the Requirement of Legalization for Foreign Public Document or Apostille, the company can submit a legalized document of Apostille.
In case where a mother country does not have consul certification system (ex, Japan), a foreign company can submit public document without legalization or document legalized by Apostille. Submitting a legalized document saves hassle in authenticity examination.
1. Types a Foreign Company's Domestic Branch
There are two types of domestic branches: a branch and a liaison office. A branch undertakes sales activities in Korea to generate profits. Meanwhile, a liaison office does not conduct sales activities to create profits, but instead carries out non-sales functions such as business contacts, market research, R&D, etc. Liaison offices can carry out quality control, market surveys, advertisements, and other incidental and supportive roles. However, they are limited in their scope of activities, since they are not allowed to sell products directly, or to stock inventory for sale on behalf of the headquarters.
2. Procedures to Establish a Foreign Company's Domestic Branch
Establishing and registering a private business subject to the Foreign Investment Promotion Act requires:
• Foreign investment notification
• Deposit of investment capital (foreign exchange bank)
• Business registration
• Foreign invested company registration
Fees: Lower cost/ Fees/ Charge
100% owned foreign share company is allowed to register business in Korea as law & terms of business in Korea.
Branch Establishment Registration
Under the Commercial Act, the establishment and registration of a business office is required, where a foreign company carries out business in Korea. An office under the Foreign Exchange Transactions Act is not allowed to conduct sales activities but information exchange, etc. Therefore, only branches can be registered as a business office.
For foreign companies to do business in Korea, they shall appoint representatives, establish business sites, and have one of executives based in Korea. (Commercial Law article 614)
Application form shall be attached with the following files (Commercial Registration Act article 112) (Commercial Registration Act article 112)
1. Statement that certifies the existence of headquarters
2. Statement that verifies qualifications of representatives (ex: appointment certificate or board of director act)
3. Article of association or statement that certifies character of a company
4. Application form for seal registration of representatives in Korean office (arbitrary)
All the files shall be certified by consuls of respective nations in Korea or competent offices. The Supreme Court of Korea recognizes the document legalized by consuls in Korea. But in some cases, the court does not recognize documents legalized by competent offices in respective countries, and requires the certification of consuls. However, it is just for enhancing authenticity of documents, and is not a requirement.(It is true for individual examination of registration civil servants)
In case where a mother country of a foreign company joins the Convention Abolishing the Requirement of Legalization for Foreign Public Document or Apostille, the company can submit a legalized document of Apostille.
In case where a mother country does not have consul certification system (ex, Japan), a foreign company can submit public document without legalization or document legalized by Apostille. Submitting a legalized document saves hassle in authenticity examination.
1. Types a Foreign Company's Domestic Branch
There are two types of domestic branches: a branch and a liaison office. A branch undertakes sales activities in Korea to generate profits. Meanwhile, a liaison office does not conduct sales activities to create profits, but instead carries out non-sales functions such as business contacts, market research, R&D, etc. Liaison offices can carry out quality control, market surveys, advertisements, and other incidental and supportive roles. However, they are limited in their scope of activities, since they are not allowed to sell products directly, or to stock inventory for sale on behalf of the headquarters.
2. Procedures to Establish a Foreign Company's Domestic Branch
Establishing and registering a private business subject to the Foreign Investment Promotion Act requires:
• Foreign investment notification
• Deposit of investment capital (foreign exchange bank)
• Business registration
• Foreign invested company registration
Fees: Lower cost/ Fees/ Charge
Email us: contact@sfconsultingbd.com
Seoul, Korea
Seoul, Korea
www.sfconsultingbd.com
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