TITLE : Business in Korea 2024 PART 3 - Procedure by Type of Investment 1-3
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■ Business in Korea 2024
PART 3
Procedure by Type of Investment 1-3
03 | Acquisition of Existing Stocks |
【 Foreign Direct Investment Flowchart 】
Conclusionof StockTransactionContract | > | Foreign DirectInvestmentNotification(KOTRA, foreignexchange bank) | > | Remittanceof InvestmentFunds | > | Registration of ForeignInvested Company /Registration of Alteration(delegated agency wherethe first FDI notificationform was filed) |
Immediately | 1 day |
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Conclusion of Contract
Conclusion of contract for transfer of stocks between a foreign investor and existing shareholders.
- Foreign Direct Investment Notification
A foreign investor is required to pre-notify FDI to the Foreign Investor Support Centerat KOTRA headquarters or at a foreign exchange bank
- Remittance of Investment Funds
Payment of investment funds through a domestic bank.
- Registration of Foreign-invested Company or Registration of Change
Registration of a foreign-invested company or registration of change shall be undertakenwhere the notification was first made (KOTRA headquarters or foreign exchange bank)as the final step in the FDI registration process.
※ Registration of capital increase is required for the acquisition of new shares by capital increase of anestablished domestic corporation, but not required for the acquisition of existing shares.
▶ DOCUMENTS
Notification of FDI through Acquisition of Existing Stocks
- 2 copies of the notification form (Attached Form 1 of the Enforcement Rules of theForeign Investment Promotion Act: Notification of foreign investment by acquisition of stocksor contribution and application for its permission )
- Foreign investor’s certificate of nationality (Foreign individuals: passport; Foreigncorporation or organization: business license, certificate of incorporation, or proof that the saidcorporation or organization is based in the said country)
[In case of non-cash investments]
- Documents certifying object of investment (e.g., documents certifying the stocks of acorporation listed in overseas securities markets)
※ Contact: Foreign Investor Support Center (1600-7119)
Registration of Foreign-invested Company or Change in Notified Matters
- Application form (Attached Form 17 of the Enforcement Rules of the Foreign InvestmentPromotion Act : Application form for foreign-invested company registration)
- Incorporation registration certificate
- Foreign currency purchase certificate
- Shareholder’s list
- Copy of business registration
* Where an agent files an registration: Power of attorney and the agent’s identification
* For registration of change: The original copy of certificate of foreign-invested company registration should be returned.
※ Contact: Foreign Investor Support Center (1600-7119)