Fees and timelines in 2022

Fees

payment by instalmentSouth Korea company incorporation costs in Year 1 amount to US$4,960 and annual company costs in Year 2 amount to US$1,000. The average total fees per South Korea engagement amounts to US$14,710, including company incorporation, and corporate bank account. Refer to draft invoice embedded here.

Different South Korea entity types Cost Draft invoice
LLC US$14,710 View invoice PDF
JSC US$14,753 View invoice PDF
Branch Office US$13,693 View invoice PDF
Rep Office US$12,333 View invoice PDF
LLC without travel US$23,543 View invoice PDF
Free zone LLC US$13,943 View invoice PDF
LLC company transfer US$10,003 View invoice PDF
LLC + bitcoin bank account US$15,943 View invoice PDF
Cryptocurrency transfer solution US$33,293 View invoice PDF
Crypto LLC with resident nominee services US$21,893 View invoice PDF
LLC with cryptocurrency exchange US$29,560 View invoice PDF
LLC with NVOCC license US$23,293 View invoice PDF
LLC annual renewal US$14,370 View invoice PDF

Click here to create your own South Korea invoice

Timelines

The average time period required to setup a company in South Korea is 8 weeks as outlined below:

Service Tax resident LLC Joint Stock corporation (JSC) Branch of a foreign company Representative office Cryptocurrency LLC
Engagement planning 1 week 2 weeks 2 weeks 2 weeks 1 week
Company incorporation period 2 weeks 3 weeks 4 weeks 3 weeks 3 weeks
Corporate bank account approval 3 weeks 4 weeks 4 weeks 4 weeks 6 weeks
Corporate internet banking approval 1 week 1 week 1 week 1 week 1 week
Engagement completion 1 week 1 week 1 week 1 week 1 week
Total engagement period 8 weeks 11 weeks 12 weeks 11 weeks 12 weeks

South Korea business registration engagement period timeline

  • Preparing a detailed project plan;
  • Our Client confirms the corporate structure;
  • Collecting due diligence from our Client.
  • Our Client signs the corporate bank account opening forms;
  • Healy Consultants prepares a business plan;
  • Healy Consultants visits the bank for interview;
  • The Bank Legal and Compliance Department review and approve the banking application;
  • The Bank Front Office email corporate bank account numbers to our client.
  • The Bank Operations Department mails the internet username and passwords to our Client;
  • Some of our Clients’ request Healy Consultants to activate the internet banking on their behalf.
  • Healy Consultants confirms all Client due diligence is received;
  • Healy Consultants couriers to our Client the complete original company and bank account documents;
  • Our Client completes our web page feedback survey.

Contact us

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