South Korea Branch registration for Hong Kong Company

Hong Kong Company may register a branch office in Seoul, South Korea.

Possibilities:

• Banking system of South Korea is more flexible than in Hong Kong, and it’s really possible to accept and make payments to some countries and regions, where Hong Kong banks will not allow your business to pay.
• The range of passports they accept is more flexible in South Korea than in Hong Kong Banks.
• The great potential to work with the world using the jurisdiction which is world recognized as non-offshore jurisdiction.
• Internet banking in English in the biggest commercial bank in Korea.

Why you can choose the branch of Hong Kong company in South Korea?

• Final beneficiary is concealed in both Hong Kona and Korea company registry. And this arrangement makes the scheme more secure. This may be important for some businesses.
• This pattern of company’s organization allows to work with companies outside Korea as offshore with no-VAT in South Korea.

Who and when should choose the Branch in South Korea for Hong Kong company?

• When your business has some connections with Korea and Asia.
• Moderate risk: for example, commodity business, intra-Asia logistics and so on.

Important details:

• Bank account opening as well as company registration process may be done remotely. No need to come to Seoul or Hong Kong.
• Income tax for Korean Branch is only 10% for companies with annual profit below 200 million won. As usual our company may help to make legal tax optimization to lower tax burden.

What are necessary steps for the start ?

• One should prepare the company registration documents in Hong Kong and then in Korea together with apostille at both sides.
• Proof of the business may be 2 deals, company web-site and full company’s reporting.

The expanses for registration are quite reasonable. So please help to think it over and if you want to proceed or have other questions, please don’t hesitate to contact our staff.