Incorporation Notification and Business Registration

MAY 16, 2023

1. When incorporation notification and business registration are submitted at the same time

 

* Normally, incorporation notification and business registration are done at the same time in a single form given by the tax office.

 

(1) Destination: Korea (when the jurisdictional tax office is in Seoul) or the jurisdictional tax office of the head office

(2) Notification / registration period:

○ Incorporation notification: in two months from the date of establishment

○ Business registration: in 20 days from business starting date

☞ In general, the jurisdictional tax office handles both business registration and incorporation notification at the same time.

(3) Documents required:

○ Application forms of incorporation notification and business registration (see Attachment)

○ Company registration certificate

○ Copy of the articles of incorporation (In case of investment in kind, designation of investment targets should be attached along with)

○ Original document of detailed statement of shareholders / investors etc. (with company impression seal)

○ Copy of business license etc. (only for the business that needs permission, approval, or notification)

☞ the business that requires pre-notification are banking business, financial investment related business, defense industry, etc.)

○ Copy of lease contract (if applicable)

※ When leasing a part of a commercial building, please submit the floor plan of the leased area. (Applicable when the deposit is KRW 240 million or below in Seoul; KRW 190 million in the overconcentrated and controlled areas of suburbs of Seoul; KRW 150 million in the metropolitan area; KRW 140 million in other areas).

○ Other documents:

- Notice of designation of tax agent (in case there is no employee to manage tax-related matters)

- Copy of foreign currency purchase or deposit certificate

- Alien Registration Certificate or Passport (if the representative of the company is a foreign national or permanent resident, a copy must be handed in after showing the original)

2. When the business registration is done before incorporation notification

 

(1) In general, incorporation notification and business registration are submitted at the same time.

 

(2) When a foreign investor establishes a company through payment in kind, since a business registration certificate is necessary to get the value-added tax refunded when the targets of payment in kind are being imported, the business registration should be done before importing the products.

(3) Documents required:

○ Business registration application form

○ A copy of the promoter's resident registration rertificate

○ A copy of lease contract

○ A copy of business license (if applicable) or business plan

※ Please, do not submit corporate registration certificate, and submit the other necessary documents after completion of incorporation.

RM511 ENC Venture Dream 6  41,Digital-ro 31-gil, Guro-gu, Seoul, 08375, Rep. of KOREA

shefaakorea@gmail.com  |   + 82-2-6959-1544

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