Foreign investment procedures consist of the following: foreign investment notification, remittance of investment funds, registration of incorporation & business, and registration of foreign-invested company. The procedures applied to foreigners are basically the same as the ones applied to Koreans with the exception of two additional steps: foreign investment notification and registration of foreigninvested company. Where a foreign investor registers a privately-owned business, ‘registration of incorporation’ is not required.
Foreign investment notification
(KOTRA, foreign exchange bank)
Remittance of investment funds
(foreign exchange bank, carried through customs)
Registration of incorporation
(court registry office)
Notification of incorporation and business registration
(tax office, KOTRA)
Transfer of paid-in capitial to corporate account
(foreign exchange bank)
Foreign-invested company notification
(initially notified organization)