Registration of foreign-invested companies
Registration of foreign-invested companies- In cases falling under any of the following for the registration of a foreign-invested company (including cases where the following is met because of capital increase), foreign investors or foreign-invested companies shall register with the Ministry of Trade, Industry and Energy within 60 days from the date of the reason (Article 21 (1) of the Foreign Investment Promotion Act and the main body of Article 27 (1) of the Enforcement Decree of the Foreign Investment Promotion Act).
1. Where payment of the investment object is completed
2. Where the acquisition of stocks, etc. under Item A of Subparagraph 4 of Article 2 (1) of the Foreign Investment Promotion Act is completed (referring to the settlement of the price of such stocks, etc.)
3. Where a contribution under Items C and E of Subparagraph 4 of Article 2 (1) of the Foreign Investment Promotion Act is completed
※ However, if a nonprofit corporation fails to meet the requirements referred to in the subparagraph of Article 2 (6) of the Enforcement Decree of the Foreign Investment Promotion Act after a foreign investor or a foreign-invested company has completed its contribution to a nonprofit corporation, it must register within 30 days from the date on which the requirement is met (proviso to Article 27 (1) of the Enforcement Decree of the Foreign Investment Promotion Act).
- Despite the above, where a foreign investor or a foreign-invested company makes a foreign investment falling under Item A of Subparagraph 4 of Article 2 (1) of the Foreign Investment Promotion Act, if he/she meets the following requirements, such as the amount of investment, he/she may register a foreign-invested company even before completing the payment of the investment object or the acquisition of stocks, etc (Article 21 (2) of the Foreign Investment Promotion Act and Article 27 (2) of the Enforcement Decree of the Foreign Investment Promotion Act).
1. The amount of investment under the main sentence of Article 2 (2) of the Enforcement Decree of the Foreign Investment Promotion Act shall be at least KRW 100 million
2. Foreigners shall own at least 10% of the total number of voting shares or the total amount of investment pursuant to Subparagraph 1 of Article 2 (2) of the Enforcement Decree of the Foreign Investment Promotion Act
Registration documents- For a foreign investor or a foreign-invested company to register as a foreign-invested company, an application for registration of a foreign-invested company (including an application in electronic form) shall be submitted to the head of KOTRA or the head of the Foreign Exchange Bank, accompanied by documents under Article 17 (1) of the Enforcement Rules of the Foreign Investment Promotion Act (Article 17 (1) of the Enforcement Rules of the Foreign Investment Promotion Act).
Issuance of registration certificate- If an application for the registration of a foreign-invested company meets the registration requirements, a certificate of registration of a foreign-invested company can be issued from the registrar (Article 17 (3) of the Enforcement Rules of the Foreign Investment Promotion Act).