Want to get a business registration number (사업자등록증)? A business license is required for many things. You need it to pay tax (e.g. VAT: value-added tax), advertise on a lot of websites like Naver or KakaoTalk and post on shopping websites like Gmarket or Coupang. You can register your business in Korea, if you have one of the following visas: F visa, D-8–4 Startup visa or D-8 Corporate investor visa. Only for a D-8 corporate investor visa you need a capital investment of $100,000. If you don’t have a Korean visa, you have to contact a lawyer to setup a company for you. Example of a business registration certificate:
This post is about:
- F visas
- Startup / OASIS visa D-8-4
- Company types (Sole proprietorship, Corporation)
- Accountant
- Korean companies directory
- Business registration number search
F visas
If you have a F-2, 4, 5, 6 visa, you can register a business (sole proprietorship) very easily. You just take your ID and lease agreement to the local tax office (in Korean: 세무서), or do it online via Hometax. Follow the link to find a list of tax offices in Naver Maps. Depending on the type of business, you may have to bring additional documents, you may want to call the Seoul Global Center or tax office first. Below is a list of F visas. There are also many sub types of the F visas.
- F-2 Resident (거주)
- F-2-1: Awarded to the spouse of a Korean
- F-2-2: A single-entry visa valid for 90 days or less issued to an underage foreign child of Korean national
- F-2-3: Single-entry resident visa valid for one year or less issued to the spouse of a resident visa holder (F-5)
- F-2-7: Awarded on a points-based system
- F-2-99: May be awarded upon fulfilment of additional requirements after 5 years on an E-2 visa
- F-4 Overseas Korean (재외동포)
- F-4-11: Overseas Korean
- F-4-12: Descendent of Overseas Korean
- F-4-13: Former D or E visa holder
- F-4-14: University Graduates
- F-4-15: Permanent resident of OECD country
- F-4-16: Corporate Executive
- F-4-17: Entrepreneur of $100,000
- F-4-18: Multinational Company
- F-4-19: Representative of overseas Koreans organization
- F-4-20: Government Employee; Overseas Korean with a foreign nationality of a country, who is currently a member of National Assembly, or has worked for 5 years or more at government office/enterprise
- F-4-21: Teacher; Overseas Korean with a foreign nationality of a country notified by the Minister of Justice of ROK, who is a university professor (including associate professor and lecturer), or a teacher at an elementary/middle/high school
- F-5 Permanent resident (영주)
- F-5-11: Special Talent; recognized by the Minister of Justice for his/her excellence in a specific field including science, management, education, cultural arts, and athletics
- F-6 Marriage to Korean Citizen (결혼이민)
- F-6-1: Spouse of a Korean National
- F-6-2: Child Raising; father or mother of minor child born after a marriage with Korean (including de facto marriage), but not qualified for F-6-1 (spouse of Korean citizen), who is raising or is planning to raise the child in ROK
OASIS Visa
Another way is through the OASIS visa, otherwise know as startup visa or D-8-4. You get the OASIS visa when you have enough points. If not, you need to make a minimum investment of 100,000 USD to get the proper visa (D-8, corporate investor) and get the certificate. Below are the requirements for the startup visa.
1. Required Items and Points (225 Points): At least one item is required.
- Intellectual property ownership (registration)
- Intellectual property application
- Co-inventor of owned (registered) intellectual property rights
- 3-year stay on E-3 (Researcher) visa
- OASIS-6, OASIS-9
2. Elective Items and Points (135 Points)
- OASIS-2, OASIS-4
- OASIS-1, OASIS-5, OASIS-7
- Capital of KRW 100 million
- Educational background: Doctoral degree (from a Korean or foreign university), Bachelor’s or Master’s degree (from a Korean university)
- TOPIK level 3 or higher / Completion of KIIP
[Reference]
- Completion of Basic Intellectual Property Course (OASIS-1; Korea Invention Promotion Association) (Elective, 15 points)
- Completion of the Advanced Intellectual Property Course (OASIS-2; Korea Invention Promotion Association) (Elective, 25 points)
- Completion of the Start-up Class (OASIS-4; Korea Immigration Service Foundation and Seoul Global Center) (Elective, 25 points)
- Completion of the Start-up Coaching and Mentoring Service (OASIS-5; Korea Immigration Service Foundation and Seoul Global Center) (Elective, 15 points)
- Achievement of the 3rd or higher prize at invention, start-up exhibitions (OASIS-6; co-hosting) (Required, 25 points)
- Completion of the Start-up Incubator (OASIS-7; Korea Immigration Service Foundation and Seoul Global Center) (Elective, 15 points)
- Foreigner’s business start-up item recognized by the Minister of Justice and selected as a central or local government-supported project (OASIS-9) (Required, 25 points)
Company types
These are the different Korean company types:
- Sole proprietorship or Private Business (사업자 or “sa-eob-ja”)
- Partnership Companies (합명회사 or “hab-myeong hwe-sa”)
- Limited Partnership Companies (합자회사 or “hab-ja hwe-sa”)
- Corporation or Stock Companies (주식회사 or “joo-shik hwe-sa”)
- LLC or Limited Companies (유한회사 or “yu-han hwe-sa”)
Sole proprietorship
If you are thinking of a sole proprietorship, you only need to drop by a district tax office (지방세무) with the lease contract of your office and your Korean ID card (alien registration card: 외국국적등표, or 외국인 체재증) to get a business license. If your landlord agrees you can register your company at your house. Also, it is possible to register more than one person at a sole proprietorship. If you have revenue of around 50,000 USD or more, the tax rate can be quite high for a private business.
Corporation
As for a corporation, you set a foundation capital and incorporate the company first to apply for a business license. For incorporation, you should go to the Seoul Global Center (서울글로벌센터) office after making an appointment or contact a local lawyer.
Seoul Global Center 38 Jong-ro, Jongno-gu, Seoul, 110-792, Korea, 110-792 서울특별시 종로구 종로 38 (서린동) 서울글로벌센터, TEL +82 2 2075 4139 l FAX +82 2 723 3206
Joint stock companies are the best choice for startups, because it is relatively easy to add shareholders and issue loans like convertible bonds. Minimum starting capital for a corporation is 1 million won, roughly 1,000 US dollar. Another thing is that if you have partners you may want to sign a founders’ agreement so when things don’t go as planned you have security.
Finally, it is very important which categories (e.g. service, with sub category advertising agency) you choose to put your company under. It is quite a hassle and expensive to add categories (업태) and sub categories (종목) later. For example, you need minutes of the shareholder meeting. And, you need to go the central tax office in Gangnam.
What is the cost and duration to setup a corporation in Korea? According to the World Bank report “Doing Business 2020“, it costs an average of 4.9 million won ($4,125) to setup a business in Korea and it takes 8 days. The OECD averages are 1.1 million won and 9 days.
Accountant
It is not legally necessary to have an accountant as a (stock) company, but it is highly recommended. Because when you are incorporated you have to submit income tax every year, VAT returns every quarter, payroll and electronic invoices every month or you get a penalty. A Korean speaking accountant usually costs 100,000 KRW (100 USD) per month. An English speaking one often costs around 150K won per months (ex. VAT).
Korean companies directory
If you are looking for a Korean companies directory, there are several:
Business registration number search
If you want to look up more info about a Korean company, most websites are in Korean. Example: Dart. Also the ones that offer data in English often do not have a database of all companies in Korea. Example: BizInKorea.
To find out if any company in Korea is active, you can check the Hometax website, officially run by the governmental National Tax Service (NTS). Hometax is where people and businesses in Korea pay / receive their tax (returns) and send electronic invoices. Unfortunately the website is only in Korean. Below are screenshots to find the status of the company in Korea. You need to input the business registration number.
59 Responses
Dear Sir,
Do universities in South Korea also have Certificate of business registration?
As a foreigner invited to speak in Korea, my invitation from Chonnam National University was not enough without the Certificate of business registration.
pls. advise
Thank you.
Hi Myra, thank you for your comment. Yes, universities also have a business registration. The Korean name spelling is: 대학교 사업자 등록증. You can find images on Google if you type that search query.
Is it possible to obtain a Business registration number if my visa is D-2. I am a student but I would like to sell handmade products on Gmarket. Is there any ways to do it?
Hi Tiana, you can try to register as a personal (not a company) seller. The link is here: https://sslmember2.gmarket.co.kr/Registration/MemberRegistrationSeller (Korean). Perhaps you can try to register as a foreign company, not sure if that is possible. If it doesn’t work you can try to sell your products (in consignment) through a third party. Or finally, you can try and get a startup visa.
Hi, how to know where exactly to find the Business Registration No. in a Korean Business Registration Cert?
Hi Tia, you can find the number at the top of the certificate. It says: 등록번호.
Hello. I want to become e-commerce (re-seller) in Korea, but wondering if only ID and Contract of office is enough. Any recommendations or info please advise) business model is in short [ finding customer through Alibaba profile > receiving an order from them > fulfilling their orders directly from China ] – I do it in SK, and receive money from customers and send to suppliers. Thanks
Hi Ira, as far as I know you need a business registration and e-commerce license to sell things online in Korea. https://www.nitaro.net/2016/12/digital-marketing-registration-%ED%86%B5%EC%8B%A0%ED%8C%90%EB%A7%A4%EC%97%85-%EC%8B%A0%EA%B3%A0%EC%A6%9D/
Hi JK Song, do the same things apply for starting an online business? For example selling on Etsy? And being able to receive payments through PayPal? Thank you.
Hi Merve, not sure how Etsy works exactly. But I think anyone can sell there from anywhere.
Hi,
I’m currently holding a D2 visa. Can I change it to D8-4 visa with points and then register a business with the D8-4 visa? After holding D8-4 visa for a year, it can be converted to F2-7 visa with points?
Do you suggest sole proprietorship or company if it’s a one person ecommerce business? Would the tax amount be high?
Hi Izzy, for specific questions about visa it is probably better to contact Seoul Global Center or the immigration office. Contact details of SGC are below. The corporate tax rate is lower than for sole proprietorship, but this is only when you have yearly revenue above 20-30K USD. But you may want to double check with an accountant or tax lawyer.
Seoul Global Center 38 Jong-ro, Jongno-gu, Seoul, 110-792, Korea, 110-792 서울특별시 종로구 종로 38 (서린동) 서울글로벌센터, TEL +82 2 2075 4139 l FAX +82 2 723 3206
Hi if I have the name of the corporation, is it possible to check if the company is a real company?
Hi KK, if you have the company name, yes you should be able to get more info about the company in one of the directories.
Hi, i want to look for a company for the shareholder ownership, may i know which website should i visit to get the information?
Thanks so much for your help!
Hi Sandy, if the company is private I think it will be very difficult to find out the shareholders. As far as I know no website publishes this info. If the company is public (stock listed), you can probably find shareholder info in their annual reports or on websites that cover these kind of companies (Yahoo/Google/Naver Finance, for example).
Hey,
Thanks for the post! Very helpful. I wanted to know how to check the license number of a Korean employment/recruiting agency?
Thank you!
I currently holding a F2 visa and I plan to sell street food in Korea. Where do I have to register my small business? I heard that I have to take a class if I want get a business license.
Do you have any information regarding registration for street food? Thanks
You just take your ID and lease agreement to the local tax office (in Korean: 세무서). Follow the link to find a list of tax offices in Naver Maps. Depending on the type of business, you may have to bring additional documents, you may want to call the Seoul Global Center or tax office first. https://map.naver.com/?query=%EC%84%B8%EB%AC%B4%EC%84%9C&type=SITE_1&siteOrder=
Hi – How long does it take to get a business registration number from the day all information is submitted? Thanks
Hi Maryann, it could take a few days. But like all government agencies, there can be exceptions. Perhaps better to call the (local) tax office or Seoul Global Center!
Thank you! I have another question, I have received a certificate, however it has a different layout than the sample above. What is the best way to confirm that the one I have is authentic.
Hi Maryann, there can be different layouts for different (type of) companies as far as I know. As long as it is from the tax office I am pretty sure it is authentic.
Dear Sir,
I have Business registration Number. how to download business Registration certificate online
Hi Kuldeep, the tax office will give a hard copy version.
Hi. if I use my home as a business address, do i need a letter from my homeowner or can i just get a verbal okay to use the location as a business address
Hi Rob, you officially need approval (letter) from your landlord. It is called 전대 동의서 in Korean. But you may want to check with Seoul Global Center to be sure.
Hi JK,
I am on a D-2 visa and I am starting a delivery startup, so far I am only alone. Do I need any kind of registration? or I can just run the business online. To give you a sense of what I am doing is think of my business as InstaCart. Customers order groceries and food from restaurants and I deliver it to them.
Is there any obligation that I won’t be able to do it?
BTW this site is only mobile-optimized, so won’t look good on a web browser
Hi Rafi, if you contact Seoul Global Center you will get a more precise answer.
Hi! How can I check the tax code of any korean company, I just know the name of company.
You can try DART or look on the footer of the company’s website.
Hi, I am a holder of the korean passport and want to start an ecommerce business. What do I have to register under for a online business license? And can it be done online? Thank you for your help
Yes you should be able to get a business registration first and then ecommerce license. I have heard people getting the license online, but I never did. You may want to contact Seoul Global Center.
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Hello Sir.
I want to start an import/export business in korea, i have F6 visa and im wondering if Sole proprietorship is a good option for me.
As i will just start my business will be in small quantities and just export from Korea to other countries for now.
Thanks in advance
hi, think it is best if you contact Seoul Global Center
I am a KOREAN but I cant speak Korean. am a citizen . i want to be a seller on coupang but i was asked to verify with a business registrations number . is there any way i can get one online ? please guide me on what to do
thanks
Was there any part of the blog post that was unclear?
I am a F-6 holder living in Korea, I am planning to monetize my blog. I wonder if I need to register anything to pay tax later on if I gain any earnings from there? Or does it depend on the amount I earn? Not sure where can I find these information…
Would be great if you can help answering, thanks!
Hi, “Simple taxpayers whose business generates less than 48 million won will not have to pay tax for business earnings.”
reddit.com/r/korea/comments/knjh58/changes_coming_for_2021_minimum_wage_will/
You may also want to contact an accountant.
Hello,
I would like to open a teaching Workout/Yoga/dance business in Korea.
I do not have any korea visa, but I have 3 diplomas and a little but more than a third of the necessary investment 100.000 USD.
How could i do that?
Thank you so much in advance
CD
Hello, I am a Student with D-2 Visa and Soon gonna Complete my Masters and also i run my own Website as a Blogger and also a Youtuber, my yearly income is around 20K$, So as a Student my D-2 Visa gonna be end soon but i wanna continue live in S Korea and wanna change my Visa type my i dont wanna do any job or i dont know my bogging Income consider as a business or not, i just wanna continue my work as a blogger and youtuber but i dont know which visa type is compatible with my work so i can convert my visa type and stay in Korea and after long time can able to convert my Visa type into a Permanent Resident Visa type with my Work Field, Do you have any idea or information?
Should i find any part-time job to stay in South Korea? To be honest i dont wanna do any job because i can grow my income as a Blogger and youtuber but if there is no other way to stay in korea then maybe i have to find a part time job so they will sponsor me. 🙁
Hi, I am an American with an F-6 visa living in Korea and want to start selling handmade crochet items on the popular marketplace called Idus. I heard you do not need to register as a business to open a shop on there however would I need to register as a business once I start making sales?
Thanks so much for this article; it was very informative!
I’m wondering two things:
1) How does health insurance and pension work if you start your own private business? Where can I find how much I would need to pay for both of these and the process for registering?
2) You mentioned finding an accountant, do you have any recommendations on this front? English speaking would be best, but Korean speaking only is ok, too.
Do I need other permits if I register as a private tutor when I’m on an F visa?
As far as I know you don’t, but I am not a lawyer / accountant.
Hi – Can a foreign company (Malaysia) apply for a business registration number, or do they need a Visa first in order to get one? If they need a Visa, do you know which one? This is for an established hotel company operating in Malaysia but wanting to use the functionality of a Business Kakao Channel (which needs a Korean business registration number in order to access this level of account within Kakao talk).
Hello – Can a foreign (Malaysia) company apply for a Korean Business Registration Number, or does the foreign company need a certain Visa first? If a visa is needed, do you know which one? This is for an established hotel company operating in Malaysia wanting to establish a Business Kakao Channel to better message with Korean guests (which requires a Korean Business Registration Number in order to set up the Business Kakao Channel).
as far as I know, a foreigner can be the representative of a branch office
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Hi,
If I am living in Korea, but want to operate a business using an LLC for both Korea and the U.S., what would you recommend? Should I get the U.S. LLC first before applying for the Korean LLC and business license?