FDI Procedure

Foreign investors need to apply for an "Approval of FDI" to the MoE through a bank(Exchange transaction) from the beginning according to the "Foreign currency control law" which is one of the strict law in Korea.

Once it's approved, the bank issued the FDI Approval cert. with a remittance advice, and the investor can move the capital fund from overseas to Korea.

Since there is no bank account yet, this capital fund is parked in a "Separate Deposit Account" in a bank until get a bank account after it's registered at the court.

It'll take around 2weeks to complete those procedures including open a bank account to start your business in Korea.

Any questions, please send an email to jz@taxjz.com