South Korea overview
Basic Facts
- Officially the Republic of Korea
- East Asian country
- Korean republic won (KRW) currency
- Civil law legal system
- Presidential democratic republic
- High quality of life
- Double taxation agreements (DTAs) currently with over 90 countries
- Korean and English speaking
Reasons for doing business in South Korea
TOP 3
Integrated investment tax incentive system
Tax exemptions up to 15 years for companies in 9 Free Economic Zones (FEZs)
Taxable year for corporate tax purposes as elected by the taxpayer
More advantages
- Progressive corporate income tax (CIT) rates of 9-24%
- Research & development (R&D) tax incentives
- Skilled workforce and strong IP protection
- Net operating losses (NOL) may be carried forward for 15 years
- CFC rules and thin capitalization apply
- Progressive inheritance tax and gift tax rates of 10-50%
- No wealth tax
Company formation in South Korea
Do you need to establish a company in South Korea? Then to administer it?
Are you looking for a reliable lawyer or accountant in South Korea?
Do you want to structure your international business in a correct way?
You do not know yet what do you need?
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