Set up a liaison office and branch
The type of foreign companies entering Korea can be largely divided into establishing branches and establishing liaison offices. Compared to foreign-invested companies, there are no capital restrictions and the establishment process is somewhat simple
The establishment of branches and liaison offices of foreigners is not recognized as foreign investment and is subject to the Foreign Exchange Management Act, unlike the establishment of corporations and business registration subject to the Foreign Investment Promotion Act
The branch operates profit-generating business activities in Korea, but the liaison office cannot operate profit-generating business activities in Korea, and only performs non-business functions such as business contact, market research, advertisement, information collection, and R&D
Liaison Office of foreign companies
A simple way for foreign companies to enter Korea is to establish a liaison office
1.Procedures and steps for establishing liaison Office
(1) Head office information is required
(2) We will guide you documents with sample which will need to get apostilled or get confirmation from consulate.
(3) You need to send us the documents to Korea
(4) Report on the establishment of a domestic branch of a foreign company & Notification of designation of foreign exchange bank
(5) Issuance of certificate of proper number from tax office
(6) Open a bank account (a foreign currency account / a Korean won account)
2.Required documents for establishing a liaison office
(1) Application for designation of foreign exchange bank
(2) Report on the establishment of a domestic branch of a foreign company
(3) Letter of appointment for the representative of the domestic liaison office
(4) Documents proving the name, location and the details of main business of the foreign corporation which is the head office
(5) Specification of the contents and scope of the business to be carried out in Korea
(6) Register document and business license of the head office
(7) Power of attorney
All foreign-issued documentation must be submitted with notarization, apostille and consulate certification.
Branch of foreign companies
Unlike the liaison office, branch registration and business registration are required when establishing a branch
1.Procedures and steps for establishing a branch
(1) Head office information is required
(2) We will guide you documents with sample which will need to get apostilled or get confirmation from consulate.
(3) You need to send us the documents to Korea
(4) Report on the establishment of a domestic branch of a foreign company & Notification of designation of foreign exchange bank
(5) Branch registration with the court
(6) Issuance of Business Registration Certificate by Tax Office
(7) Open a bank account (a foreign currency account / a Korean won account)
2. Required documents for establishing a branch
(1) Application for designation of foreign exchange bank
(2) Report on the establishment of a domestic branch of a foreign company
(3) Letter of appointment for the head of a branch
(4) Documents proving the name, location and the details of main business of the foreign corporation which is the head office
(5) Specification of the contents and scope of the business to be carried out in Korea
(6) Register document and business license of the head office
(7) Power of attorney
All foreign-issued documentation must be submitted with notarization, apostille and consulate certification.
D-7 dispatch visa for liaison offices and branches
Employees such as senior manager, specialist in Korea along with the establishment of liaison offices and branches will obtain a D-7 dispatch visa
1. Report on the establishment of a branch office in Korea
2. Company establishment registration when setting up a branch office
3. Business registration when establishing a branch office, Issue certificate of proper number when establishing a liaison office
4. D-7 visa application
Comparison of Domestic Branches, Liaison Offices of Foreign Companies and Foreign-Invested Companies
