Official Name: South Korea
South Korean won
- Consultation (in person, online, phone)
- Helping to prepare your documents
- Start to finish your company registration process
- Immigration services
South Korea is an ideal international trade hub and source of trade opportunities between China and Japan. Because South Korea does not restrict foreign currency accounts or repay capital gains, it offers other tax incentives in free trade zones and free access to foreign investment, many investors take advantage of business opportunities in South Korea. In addition, South Korea’s economy continues to be one of the largest in the world.
The South Korean government has taken a number of measures over the past few years to encourage more investment and entrepreneurship. It specializes in various fields including electronics, food processing, engineering and automotive.
To start or run a business in South Korea as an immigrant, you need a business or partnership visa. The application must be sent to the Korean Embassy or Consulate in your country in order to obtain a residence permit from the South Korean Immigration Service.
What are the conditions for obtaining South Korean residency and citizenship through work?
To get permanent residency in South Korea through work, you must work in this country for at least 5 years and pay taxes.
What is the unemployment rate in South Korea?
The unemployment rate in South Korea in 2020 is 3.3 percent.
Is it possible to work with a family in South Korea?
Yes, you can go to South Korea with your family if you have a job offer.
How long does a South Korean visa take?
Seven to ten working days
What are the documents required to obtain a South Korean visa?
- Original passport valid for at least six months
- Original identity card and national card with translation
- Job documents translated and approved by the judiciary
- Print a bank account
- Letter of financial ability
- personal photo
- Passenger return guarantee
Is there a need for a fingerprint when obtaining a South Korean visa?
No. A South Korean visa does not require a fingerprint.
Do we have a South Korean e-visa online?
Currently, the South Korean visa is in the form of a label and is not yet done online and electronically.
What documents are required to obtain a South Korean family visa?
In addition to other documents, a marriage certificate must be provided.
Does having a Schengen visa or a Canadian visa affect the process of obtaining a South Korean visa?
Yes. Having a previous valid visa, including a Schengen visa, a Canadian visa, a British visa, an Australian visa, a US visa, a Japanese visa and other country visas, increases the chances of getting a South Korean visa.
The benefit of company registration in South Korea
- Strong banking system
- Consumer brand tends to offer quality products.
- Very high net income per household
- Strong international financial position (low foreign exchange reserves and foreign debt)
- Powerful sea and air transport system.
- Due to the efficient training system, the workforce is very skilled.
- Advanced research and development capabilities
- Outstanding positions in the highly advanced electronics sector
- Existence of quality infrastructures
- Investment growth in Asia
- A limited liability company is registered with a managing director and a shareholder within at least 2 months.
- No need to travel to South Korea to complete the registration process.
- There are no restrictions on the return of profits and capital and foreign currency accounts.
- Companies registered in Korea Free Economic Zones are exempt from tax for 5 years. There are currently eight free economic zones in
- Korea, including Incheon, Busan and Guangyang Bay.
- In these areas, there are no import tariffs for companies registered in South Korea for three years.
- Literacy rate above 97% and the most skilled labor force
- According to the Organization for Economic Co-operation and
- Development (OECD), South Korea has the highest IQ in mathematics, science and problem solving.
The advantage of company registration in South Korea
- Costs and wages are very high in South Korea. The average wage of a skilled worker is $ 3,700 a month.
- Before completing the company registration process, a place must be rented for the company. Renting a company in South Korea is very expensive. The rent for an office for a company is at least $ 60 per square meter per month.
- Renting industrial space in key South Korean business districts is very expensive. The average rent for an industrial space in South Korea’s business district is $ 55 per square meter per month.
- Only 10% of people in South Korea are fluent in English, which would be a barrier to foreign investor business. The official and local language of South Korea is Korean, so all documents to register a company must be translated into Korean.
- The South Korean government has banned foreign investment in certain sectors, such as electricity generation, certain agricultural industries, radio and television.
- Participation in government tenders will be for South Korean citizens and South Korean companies only.
Type of company registration
- Johann Hoesa Company Ltd
- Branch office
- Representative Office (RO)
- Public Participation (Hapmyong Hoesa)
- Limited Partnership (Hapja Hoesa)
- Chusik Hoesa Corporation
The company registration process
- Preparation of economic justification plan (business plan)
- Presenting the passport of the applicant and his / her companions
- Lease of a commercial office in South Korea
- Determining and confirming the name of the company that must be approved by the Supreme Court of South Korea.
- Preparing and presenting the company’s articles of association with complete information (names of shareholders, amount of shares, names of company managers, address of the company’s office)
- Register your company with the South Korean Tax Office and receive your tax identification number and business certificate
- Opening a company trading account and depositing the company’s capital into the account