[자문] Legal advice on establishing a foreign-invested company (power of attorney)

Inpyeong Law Firm advises various local companies from Hong Kong, the United States, and Vietnam on how to repatriate capital to Korea and establish a foreign-invested company, and reviews and provides various legal documents.

We also provide assistance in the reporting of funds consolidation management, which is required to be reported periodically when establishing a foreign investment corporation.

You typically form a stock company, but you can also form a limited company. The differences can be seen in the table below.

stock company

limited company

purpose

This is good for large companies with many shareholders.

It’s good for small businesses.

capital

Although you can start a company with a small amount of money, in order to receive benefits under the Foreign Investment Promotion Act 100 million won or more is recommended.

unit

of

equity

KRW 100 or more

share transfer

This is generally possible.

Approval from the general meeting of members is required.

corporate bonds

This is generally possible.

NOT available

director

Companies with a capitalization of KRW 1 billion or more must have at least 3 directors.

Companies with less than KRW 1 billion in capital can have one or two directors.

One or more registered executives are required.

auditor

Companies with less than KRW 1 billion in capital are not required.

NOT required

external

audit

If two or more of the following conditions are met: total assets of KRW 12 billion, total liabilities of KRW 7 billion, sales of KRW 10 billion, and 100 employees, an external audit by an accounting firm is required.

If the number of employees (investors) is 50 or more and a total of 3 or more conditions are met, including the requirements for establishment of a joint stock company, an external audit by an accounting firm is required.

When establishing a foreign investment company in Korea, the power of attorney for incorporation must be notarized with an apostille. You need to make sure that the country is a signatory to the apostille.

However, there is no specific form for a power of attorney issued by a foreign country. Since the details of the delegation are often blank except for the information of the delegator and the delegate (the person to be delegated), it is necessary to fill in the details of the delegation according to the convenience of the applicant and the necessary work.

Although there is no specific form for a power of attorney for incorporation, it must contain the exact English name and address of the person to be delegated, as well as various documents for all procedures required for the incorporation of the entity to be delegated, and accurately describe the facts of the work to be performed.

If there are any procedures related to the Financial Investment Regulations that are required during the incorporation process, it is recommended that you delegate the authority for those tasks as well.

Our lawyers provide legal services comparable to those of large law firms, with a solid track record of experience and expertise in establishing, investing in, and financing a number of foreign investment entities in close collaboration with US attorneys.

Based on his deep understanding of the financial industry and rich experience, he helps clients find solutions to their legal concerns, including financial regulation, venture capital, domestic investment, overseas investment, project financing, and intellectual property rights.

Please contact us by email and we will provide you with a quote and time frame for the legal services you need.

Representative email address : inpyeong@inpyeonglaw.com

Best Regards,
Law Office Inpyeong.

관련 구성원
Picture of 조윤상 대표변호사
조윤상 대표변호사
02-2038-2339 / yscho@inpyeonglaw.com
Generic selectors
Exact matches only
Search in title
Search in content
Post Type Selectors
Recent Posts

2024년 장애인인식개선교육 – 기업 내 자체 법정의무교육 자료

자세히보기+

[승소]스톡옵션(주식매수선택권) 주식인도청구

자세히보기+

DEEMED CONSENT IN DIGITAL SERVICES: TERMS OF USE AND PRIVACY POLICY

자세히보기+
Get The Latest Updates
뉴스레터 구독신청

NEWS LETTER

인평이 발행하는 법률 정보와 소식을 받아보실 수 있습니다 🎁

개인정보 수집·이용 동의서

1. 수집항목 : 성명, 이메일주소
2. 수집, 이용목적 : 뉴스레터 등 기타 관련 광고성 정보 발송
3. 보유 및 이용기간 : 뉴스레터 신청 후 수신거부 요청 시까지