K&P Law Firm - International Law Firm in Incheon, South Korea

K&P Law Firm in Songdo, Incheon, south Korea is t a law firm which provide an English legal service in Incheon. We provide various advice for foreigners. Tel. +82 32 864 8300 Email: info@kimnpark.com Please Visit our Website:  www.kimnpark.com                 our new blog:  https://knplawfirm2.tistory.com/

In cases where foreign investment satisfies certain conditions, the central and local governments of Korea provide cash grant for the construction of a new factory, etc. In the process, the Korean government takes into account whether the relevant foreign investment accompanies high technology, the effect of technology transfer, the size of job creation, whether the foreign investment overlaps with domestic investment, the propriety of the location in which the foreign investment is made, etc. 1. Qualifications and Purposes of Cash Grant 2. Cash Grant Application Procedure 3. Follow-up Management of Cash Grant 2-1 Overview of Cash Grant (1) Qualifications and Purposes of Cash Grant  Foreign investment shall meet the following requirements and its foreign investment ratio shall be over 30% to be eligible for cash grant.  In case of new construction or expansion of factory facilities (workplaces for non-manufacturers) to be engaged in the industry support service

For foreign investment which meets a set of qualifications, corporate,income tax and customs duties on capital goods are exempted or reduced in accordance with the Restriction of Special Taxation Act. Acquisition tax, registration tax, and property tax on properties acquired or held for the operation of the business are exempted or reduced under local government ordinances mandated by the Restriction of Special Taxation Act. 1. Tax Support for Foreign-Invested Companies 2. Application for Tax Reduction or Exemption and Collection 3. Other Tax Support 1. Tax Support for Foreign-Invested Companies  Corporate Tax Reduction  Corporate tax reduction for foreign-invested companies applies to income generated from businesses that are subject to reduction under the Restriction of Special Taxation Act, with foreign investment ratio taken into account. However, in case that a Korean citizen (corporation) directly or indirectly holds 10% or more of the voting shares of a foreig