South Korea Yuhan Hoesa

A Yuhan Hoesa (Limited Company) in South Korea is a popular business structure that offers limited liability protection to its shareholders. This type of company is common for small to medium-sized enterprises in South Korea. The following are the key requirements and details for establishing a Yuhan Hoesa:

The minimum share capital required to establish a Yuhan Hoesa is KRW 1, making it accessible for businesses with limited initial capital. The entire share capital must be fully paid up at the time of incorporation.

The incorporation process involves several steps. First, the company must draft its articles of incorporation, which outline the company’s objectives, share structure, and other essential details. These articles must be notarized by a public notary. Following this, the company must deposit the minimum capital into a bank account in the company’s name. Once the capital deposit is made, the company must file the necessary documents with the Commercial Registry Office, including the notarized articles of incorporation and proof of capital deposit.

Upon registration, the company must register for various taxes, including corporate tax, with the National Tax Service. Additionally, the company is required to keep a register of shareholders and maintain other corporate records. The company must also submit annual financial statements to the tax office and may need to conduct regular audits depending on the size and nature of the business.

A Yuhan Hoesa in South Korea provides a flexible and recognized corporate structure suitable for both small and larger enterprises, offering limited liability protection for shareholders.