South Korea is located Eastern Asia and occupies the southern half of the Korean Peninsula, bordering the Sea of Japan and the Yellow Sea. Over the past four decades, South Korea has demonstrated incredible growth and global integration, and has become a high-tech industrialised economy. In 2004, South Korea entered the trillion dollar club of world economies, and currently is among the world’s 20 largest. South Korea is a member of the Organisation for Economic Cooperation and Development (OECD), which allows for an attractive environment for foreign investment. According to the Doing Business 2012 survey by the World Bank, South Korea is in fact the world’s 8th-easiest place to do business. South Korea is hosting the 2018 Winter Olympic Games, and therefore will be an exciting country in the coming years. Licensehub.in can assist you in setting up a company in South Korea.
Setting up a company in South Korea – what are the main features?
- South Korea company formation allows 100% foreign ownership
- The minimum number of shareholders required is one for a Yuhan Hoesa (limited liability company), with no restrictions on nationality
- Non-resident individuals are liable to personal income tax only on assessable income derived in Korea
- Companies are required to maintain accounts and keep a register of shareholders at the registered office. These records must be kept in Korean
- Annual tax returns must be filed to the National Tax Service of South Korea following South Korea company formation
Licensehub.in provides you with an efficient, professional service, assisting you in all aspects of South Korean company formation. We aim to make this process as easy as possible. Contact us for more information on incorporating a company in South Korea.