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  • Overviews of Key Features

    Since adopting the Foreign Investment Promotion Act (FIPA) in 1998, the Korean government has significantly deregulated and opened up the country’s investment market to foreign investors, launching a wide range of programs and efforts to attract foreign direct investment. In the early days, much of the policy focused on expanding the absolute quantity of capital from overseas by providing incentives proportional to the amount of investment.

    Over time, however, Korea's foreign investment policies have gradually evolved toward qualitative growth, particularly with respect to high-value-added industries that can enhance the global competitiveness and potential of the Korean economy and create more jobs. Korean policymakers are striving to make Korea one of the top 10 destinations of foreign investment in the world.

    Overview of Taiwan companies

    GENERAL

    Location of Jurisdiction

    : South Korea – North East Asia

    Official Language

    : Korean

    Political Stability

    : Excellent

    Tax on Offshore Profits

    : Yes

    Disclosure of Beneficial Owner

    : Yes

    Submit Audited Accounts

    • Listed company mandatory
    • The following unlisted corporations are required :
    - At the end of the previous fiscal year, the company’s capital exceed KRW 12billion
    - At the end of the previous fiscal year, total liabilities are more than KRW 7billion and total assets reach more than KRW 7billion
    - At the end of the previous fiscal year, Companies with 300 or more employees at the end of the previous business year and total assets reach more than KRW 7billion

    Time to Incorporate

    : 5-8 weeks

    CORPORATE

    Type of Offshore Company

    : Limited Company

    Type of Law

    : Foreign Investment Promotion Act

    Allowed Business Activities

    : An entity-level certificate/license may be required for certain regulated business

    Local Registered Office Required

    : Yes

    Change of Domicile

    : Yes

    Shelf companies Available

    : Yes

    Language of Documents

    : Korean

    Name of Company

    : Korean/English

    Corporate Seal

    : Corporate seal is mandatory

    DIRECTORS

    Eligibility

    : Any person or company of any nationality

    Minimum Number of Directors

    : 1(individual and no body corporate)

    Disclosure to Authorities & Public

    : Yes

    Residence Required

    : May reside anywhere

    Local Director Required

    : No

    Location of Meetings

    : Anywhere

    COMPANY SECRETARY

    Secretary Required

    : No

    SHAREHOLDERS

    Minimum number of shareholders

    : 1

    Maximum number of Shareholders

    : Unlimited

    Eligibility

    : Any person of any nationality or body corporate

    Disclosure to Public

    : No for unlisted company

    Annual General Meetings

    : Required

    Location of Meetings

    : Anywhere

    SHARES

    Minimum Number of shares

    : 1

    Maximum Number of shares

    : Unlimited

    SHARE CAPITAL

    Permitted currencies

    : KRW

    Minimum paid up share capital

    : KRW 100million for foreign Invested company

    Maximum share capital

    : Unlimited

    Recommended share capital

    : Sufficient to pay for setup and company management costs

    Requirement to be paid up

    : Yes

    Financial Statement Requirements

    : Yes

    FOREIGN INVESTMENT PROCEDURES

    Foreign investment notification

    : Yes

    Remittance of investment funds

    : Yes

    Registration of incorporation and business registration

    : Yes

    Registration of foreign-invested company

    : Yes

    Annual Filings/ Requirements

    Filing of Income Tax Return

    : Yes (Quarterly)

    Filing of Value-added Tax Return

    : Yes (monthly)

    Filing of Withholding Tax Return n

    : Yes (monthly)


  • Hong Kong Office

    : Unit 706, 7/F, South Seas Centre Tower 2, No.75 Mody Road, Tsim Sha Tsui East, Hong Kong / Tel:(852)3913-9500 / Fax:(852)2170-1919

  • Singapore Office

    : 3 Shenton Way #16-08 Shenton House Singapore 068805 / Tel: (65)6542-2309 / Fax : (65)6221-4376

  • Korea Office

    : 100, Cheonggyecheon-ro, Jung-gu, Seoul, Republic of Korea / Tel : (82)70-7436-5844 / Fax : (82)2-713-0056

  • Taiwan Office

    : 18F-2, No.163, Sec. 1, Keelung Rd., Xinyi Dist., Taipei City 110, Taiwan (R.O.C) / Tel : (886)988-057-215

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