My friend at the Korean Tax Blog has an excellent post on the minimum capital requirement for setting up a company in Korea.
The post notes that:
Before 2009, Korean law required a minimum capital of 50 million KRW to estabish a corporation. However, since February 2009, there are no longer any restrictions related to mimimum capital in Korean Law.www.thekoreantaxblog.com
This amendment to Korean Law has made it easier to open a company in Korea. However, to open a foreign-capital invested company and to obtain a visa to work for the company, the amount of capitalization is, typically, between KRW 100 million and KRW 300 million. For more specifics on opening a company in Korea please see: Forming a Korean Company.
- Minimum Capital Requirements for Setting Up a Corporation in Korea
- Steps to Set up a Business in South Korea
- Guide to Establishing a Company in Korea: Branch vs. Office; FIPA vs. FETA
- Why you Should Setup a Corporation in South Korea?
- Minimum Wage Increased in South Korea for 2021: Employment Law Update
- Piercing the Corporate Veil in Korea: Suing Shareholders of a Corporation
- Can a Foreign Company be Deemed a Domestic Company for Tax Purposes and Taxed on Worldwide Income?
- Korean Tax Risk of Foreign Corporation Deemed “Actual Business Management Locale” within Korea: Korea Tax Law Basics
- Korean Act on Special Cases Concerning the Establishment and Operation of Internet Banks
- Minimum Wage Raised in Korea for 2020: Employment Law Updates