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Understand the Jurisdictions Setup Requirement Before Proceed Your South Korea Company Registration
To be frank, we don’t really need to repeat why South Korea is one of the most perfect destinations for investors around the world. You have heard it quite a lot of time before, and the country is one of the leading economies in the sector of electronics, technology, and manufacturing. Other reasons to invest in South Korea include a highly skilled workforce, no restriction on foreign currency, etc. All in all, having a business in South Korea is straightforward; go with the right business plan and you will have considerable profits. However, South Korea company registration could be confusing to many because of many reasons like the language barrier and location.
Well, 3E Accounting has decided to partner with accounting experts in South Korea to make South Korea company registration simpler than ever. From now, all you need to do is give 3E Accounting a call and we will register your South Korea business for you. We will complete the entire South Korea company registration process in the minimum time and you don’t have to worry about a thing.
You will need to know the types of companies in South Korea before you can register a business in the country. These are the types of companies in South Korea.
Limited Liability Company
The limited liability company is the most preferred type of business in Korea, especially for foreigners. You need at least one director and one shareholder to open a limited liability company in South Korea. The minimum share capital for a Saouth Korean LLC is about $11,000. Also, the investors are legally liable for only the investments they made.
A general partnership doesn’t let the company be a separate legal entity. In a general partnership, two or more partners invest in the company and their liabilities are not separate from the company. Every partner is equally liable to the funds, and at the same time have equal rights to the company, including the decisions and profit.
A limited partnership is not very different from a general partnership; but in it, there are some ‘limited partners.’ Limited partners contribute less than general partners. And thus, can only claim rights to a limited amount of profit. Also, they are can’t make important business decisions like general partners.
Joint Stock Corporation
The joint Stock corporation is also one of the most common business entities in South Korea. In a joint-stock company, the liabilities of the shareholders are limited to the capital investment amount. Also, shares are transferable to the different members, and this company should hold shareholders meetings at least once every year.
How Much Time Does it Take to Register a Business in South Korea?
One issue with many foreign investors is the time that it takes them to incorporate a business. Well, the company registration process in South Korea in itself is not a lengthy process in itself. Anyway, it might be a little difficult for some regarding the formalities. Work with 3E Accounting, we will complete your South Korea company formation in as less as 2 to 3 weeks. Contact us to find out more information about our services.