Notification by the foreign investor or proxy
A power-of-attorney is required when filing the notificatio through a proxy. (Original document)
Notification at Invest KOREA, Korea Trade Centers at home and abroad, foreign exchange banks and domestic banks designated to accept notification.
Required Documents ; FDI notification form (provided) and documents verifying the natinality of investors (Individual investors shall submit a copy of passport).
Processing Period : On-the-spot
Ways to carry in investment capital :
- FDI capital may be remitted to domestic banks from overseas
- FDI capital may be hand-carried through the customs
After investment capital is remitted from overseas to a foreign exchange bank in Korea, the capital shall be converted into Korean won and be deposited into a temporary account.
Later, the capital will be transferred to a "share subscription account". Then a certificate verifying a custody of paid-in capital will be issued by the the bank which is required in the registration of incorporation. In order to issue a certificate verifying a custody of paid-in capital, banks might require articles of incorporation, minutes of inaugural meetings, minutes of board of directors meetings, certificate of underwriting. Therefore, investors are required to check the list of necessary documents in advance.
After procedures for the registration of incorporation for the business registration are completed, the remitted capital, which is deposited in a temporary account, will be transferred to the company account. In this case, original copies of transcript of incorporation registration, certificate of registered corporate seal, corporate seal, certificate of business registration, seals to be used for corporate account and identification card of representative director are required. Investors are recommended to check the list of required documents in advance as they might differ from banks.
Registration Period: Within 30 days from the date on which the payment required was completed
Place : Institution where a FDI notification was filed
Required Documents :
- Application form for FDI company registration (provided)
- Certificate of exchange/deposit of foreign currency
- Transcript of incorporation registration
Required Documents :A certificate of FDI notification shall be issued on the spot, and this certificate is required in following cases :
When making overseas remittance of the profits made by an FDI company :
- The procedure will be much simpler than other overseas remittance cases if a copy of certificate of FDI company registration, resolution of board of directors and financial statement audited by CPA are prepared.
When making an application for D-8 visa :
- Where : Invest KOREA, Competent immigration offices, Korean consulate general of overseas nations (excluding the Chinese)
- Invest KOREA : Change of visa status to D-8 status.
- Immigration offices : Visa status change and certificate for confirmation of visa issuance.
- Documents required: A copy certificate of FDI registration, certificate of FDI company, certificate of FDI company registration, transcript of incorporation registration (or certificate of business registration), dispatch order (or employment certificate), passport and visa application form.