How to incorporate a company in Korea?
Tetra Consultants advises you to read through this guide to fully understand the steps required on how to incorporate a company in Korea.
Simply put, we can break down each engagement into three different phases:
- Planning & strategy
- Incorporation & bank account opening
- Staying compliant
By systematically following the above three phases, you can expect to start conducting business with your Korea company within 6 weeks.
Planning & strategy
- Depending on your business goals and activities, Tetra Consultants will recommend the most suitable business entity. Prior to incorporating a South Korea company, you will be advised on the optimum paid up share capital, corporate structure and whether there is a need to apply for any licenses.
- Before Tetra Consultants can incorporate a company in South Korea, you are required to provide a list of required KYC documents. Some documents are required to be translated into Korean by a certified translator as it is the national language of South Korea.
- Tetra Consultants reserves your preferred company name with the South Korean government. According to the business activity and corporate structure, Tetra Consultants will draft articles of incorporation, business plan and other incorporation documents.
Incorporation & bank account opening
- Once the documents are ready, we will proceed to file for registration with the government. From our experience, the South Korean government will take 14 days to approve the company registration.
- After company incorporation, Tetra Consultants will courier the Certificate of Incorporation, Memorandum & Articles of Association and other corporate documents to your preferred address.
- As the corporate documents will be in Korean, Tetra Consultants will assist our international clients to translate the same via a certified translator.
- Tetra Consultants will contact multiple reputable international or South Korean banks and present your business to each relationship manager and compliance team. Some of the banks we work with include Woori Bank, Korea Development Bank and KEB Hana Bank.
- Once your account is opened, Tetra Consultants will courier the internet banking token and access codes to your preferred address.
- You can be confident you are in the best hands when Tetra Consultants undertakes your South Korea company’s accounting and tax services.
- Tetra Consultants will timely prepare your firm’s financial statements, corporate tax returns and bookkeeping on your behalf.
- If you plan to be physically present and working in South Korea, Tetra Consultants will secure a South Korean work visa for you.
Contact us to find out more about how to incorporate a company in South Korea. Our team of experts will revert within the next 24 hours.