South Korea company registration


Since 2003, Healy Consultants has been efficiently and effectively assisting our Clients with i) South Korea business registration ii) business licensing iii) South Korea business banking solutions iv) visa options and staff recruitment strategies and v) workspace rental solutions.

South Korea company registration starts from US$3,500Register your company now

SummaryLLCFree zone CompanyBranch OfficeRep OfficeLLP
Best use of company?SMEsInternational TradingBank branchesMarketingProfessional Services
Legally tax exempt if properly structured?NoYes (for 3 years)NoYesNo
Corporate bank account location?Woori BankCitibankKEB Hana BankSCB KoreaWoori Bank
Client must travel to Korea?NoNoNoNoNo
Can secure trade finance?YesYesYesNoNo
Limited liability entity?YesYesNoNoYes
GST payable on sales to local customers10%10%10%No10%
Withholding tax on payments to overseas shareholders?22%NoNoNo22%
Average total engagement costs?US$10,953US$9,953US$10,703US$9,343US$9,953
Average total engagement period?4 weeks4 weeks5 weeks5 weeks4 weeks

Korea has signed free trade agreements?Yes
This country is a member of WIPO and TRIPS?Yes
The country is a member of the ICSID?Yes
Average customs duties suffered?8%

 LLCFree zone CompanyBranch OfficeRep OfficeLLP
Government foreign investment approval is required?NoYesNoNoNo

Average monthly office rental? (US$ per sq m)US$24
Minimum statutory annual salary?US$11,294
Average monthly US$ salary for local employees?US$3,180
Korea Won deposit interest rate? (1 year average)2%
US$ deposit interest rate? (1 year average)0.34%
Overseas remittance currency controls?No
Public register of shareholders and directors?Yes
Banking considerations
Multi-currency bank accounts available?Yes
Corporate visa debit cards available?Yes
Quality of e-banking platform?Good
Crowd funding available in this country?Yes

Contact us

For additional information on our company registration services in South Korea, please email us at Alternatively please contact our in-house country expert, Ms. Chrissi Zamora, directly:
client relationship officer - Chrissi