According to current regulation of the non-litigation case adjective law, in case of a corporation, it is necessary to submit a report about performance of investment in kind. However, in case of a limited company, ‘a statement that verifies the whole asset purpose of investment in kind has been paid’ has to be submitted. Thus it is not necessary to submit the confirmation of completion of the investment in kind.
In addition, in accordance with Foreign Investment Promotion Act, in case of a foreign investor introduces investment in kind, despite of the Article 229 of the Commercial Law, it is regulated that the Commissioner of Customs needs to see a confirmation of completion of investment in kind that confirms type, quantity and price of the items as a report made by inspector under the regulation of the non-litigation case adjective law. Thus, for a corporation, it is necessary to submit a conformation of completion of investment in kind, but not for a limited company.
Therefore, if a limited company wants to register capital goods that were received from a foreign investor with actual things, certification of import notification can be submitted instead of a conformation of completion of investment in kind.