Types of Business and Business visa In Korea

 The number of foreign investors who are running their own business or planning domestic investment is increasing.

The certain qualifications must be satisfied to set up domestic investment or work in individual business.

Let's find more about foreign investor.

 

Foreign direct investment is necessary in order to do the business in Korea. It is an investment which is authorized by Foreign Investment Promotion Act, in the form of a controlling ownership in a business of Korean corporation or Korean domestic citizen, by an entity based in another country.

This form of investment aims direct effort from foreign investor into the business so it is significantly differ from general stock investment.

After obtaining certificate of foreign invested enterprise registration and registration of business through foreign direct investment, operation of own business is legally possible.

Many foreign businessmen have big concern about D8 business visa matters.

D8 visa has different procedure depends on the purpose of business.

<Corporation business owner>

- A corporation business owner is an owner of a company or group of people and selected by numbers of people and their capitals.

- Certificate of business registration is issued after business owner completes registrating business for tax.

- The owner registration takes 15 to 20 days (3 to 5 days for Registration of corporation establishment , 7 days for issuance of business owner certificates)

- Registration of corporation establishment must be applied within two weeks after the investment capitals are completed

<Private business owner>

- Private business owner is a leader in charge of managing business and takes full responsibility from the business and requires to register within 20 days after the operation date of the business.

- Business registration is steps of notify the business to tax office and registrating all information of business and the owner.

- The application form contains profile information of the owner and specific information of place of business.

Corporation business owner VS Private business owner

Private business owner

Corporation business owner

Establishment and amount of required capital	Procedure for establishment is simple. Suitable for small size business with low amount of invest funding	Procedure for establishment is complicated. Certificates fee, taxes, and hyge amount of investemt are necessary
Responsibility and reliability	Takes full responsibility alone	Takes partial responsibility depends on owned stocks and reliability from outside of business is steady.
Interest and funding	Fundraising is one of hard things to do. Income is limitless for use	Stocks are avaliable for Fundraising and interests are provided and divided for stock holders.
Persistence	If the owner is changed, the business is closed for a short time and renew.	CEO can be changed but the corporation remains still.
others	Simple reports to the tax office are required on changes of business and the owner	Official certificates and registrations are required on changes of business and the owner

※ Requirements for foreign investment

(Corporate, Private)

Corporate:

1. Investment fund must be no less than 100 million KRW

2. The amount of investment must be at least 100 million KRW, and you must either have at least 10 percent of the total capital stocks of the company in addition to the voting right or sign a contract of dispatching and appointing executives by having some stock shares.

 

Private:

1. The target business must be operated by a citizen of the Republic of Korea.

2. The amount of investment must be at least 100 million KRW and have at least 10 percent of the total capital stocks. Business registration must show that foreign private investor and Korean business owner are co-representative.

3. Korean business owners must have least 100 million KRW of business fund.

D8 visa has different procedure depends on the purpose of business.

We provide convenient service for variety types of business and foreign investors.