The incorporation procedure of a foreign-invested company pursuant to the Foreign Investment Promotion Act consists of the following: foreign direct investment notification, remittance of investment funds, registration of incorporation, acquisition of authorization and permission, notification of incorporation, business registration, and registration of the foreign-invested company. The procedures applied to foreigners are basically the same as those applied to Koreans with the exception of two additional steps of foreign direct investment notification and registration of a foreign-invested company. It takes about two weeks for all those procedures and a residence visa is issued after the registration of the company.

Procedure

※ Related laws: Articles 5 and 21 of the Foreign Investment Promotion Act, Articles 6 and 27 of the Enforcement Decree of the Act, Articles 2 and 17 of the Enforcement Rules of the Act.

Some of the required documents must be apostilled, while signatory nations of the treaty are as follows. In the case of non-signatory nations, only the notarization of the Korean consulate located in the country is valid.

Foreign Direct Investment Notification

A foreign investor is required to pre-notify the FDI to KOTRA (Foreign Investor Support Center in KOTRA headquarters or at overseas investment hub offices) or a foreign exchange bank.

REQUIREMENTS

  • Foreign Direct Investment Notification
    • 2 copies of the notification form
      Enforcement Rules of the Foreign Investment Promotion Act, Attached Form 1: notification of foreign investment by acquisition of stocks or contribution and application for its permission.
    • Foreign investor’s certificate of nationality
      Foreigners: passport; Foreign corporation or organization: business license, certificate of incorporation, or proof that the said corporation or organization is based in the said country.
  • In the case of non-cash investments
    • Documents certifying object of investmente.g. documents certifying the monetary value of industrial property rights, etc.
    • Where an agent files an application: Power of Attorney and the agent's identification (ID card)

※ Contact: KOTRA Investment Consulting Center (1600-7119)