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How to get a business registration certificate in South Korea?
Posted By Halla Systems
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The first mandatory step is to register and obtain a licence. Without registration, you won't be able to: sign contracts; advertise your business on local social media and websites such as Naver or KakaoTalk; or list your products on Korean marketplaces. Foreign suppliers, large chains and retailers often use the dropshipping business model to deliver goods to and from Korea. How do I get a Korean business registration number?
You are a foreigner
Foreigners must obtain one of the following visas before registering a business: an F visa, a D-8-4 start-up visa or a D-8 corporate investor visa. The Foreign Investment Promotion Act (FIPA) allows you to incorporate a company locally under certain conditions. Under the FIPA, if a foreigner has invested at least 100 million won for management participation and has acquired at least 10% of the voting shares of a company, it is recognised as a foreign-invested company. Foreigners can contact the Seoul Global Centre for all registration issues and problems.
You are a foreigner
Foreigners must obtain one of the following visas before registering a business: an F visa, a D-8-4 start-up visa or a D-8 corporate investor visa. The Foreign Investment Promotion Act (FIPA) allows you to incorporate a company locally under certain conditions. Under the FIPA, if a foreigner has invested at least 100 million won for management participation and has acquired at least 10% of the voting shares of a company, it is recognised as a foreign-invested company. Foreigners can contact the Seoul Global Centre for all registration issues and problems.
F Visa
If you have an F-2, 4, 5, 6 visa, it is very easy to register a business (sole proprietorship). You will need to provide an ID document and a lease agreement to the local tax office. This can also be done online through the National Tax Service (NTS) Hometax website. Hometax in Korea is used to pay taxes, receive tax refunds and generate electronic invoices.
As the Hometax website is only available in Korean, the international online platform Halla Systems Co. Ltd. helps foreign companies translate their documentation, set up their business and process payments.
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