O The foreign investment on non-profit corporation by contribution method is

– The contribution to a non-profit corporation which belongs to manpower/ facilities in the science and technology sectors or:

– In addition, the contribution to a non-profit corporation accepted by the foreign investment committee in accordance with article 27 of the Act as a contribution to a non-profit corporation

• The procedure is to submit the report of foreign investment to a head office/ branch of a domestic bank or KOTRA (including domestic trade center or overseas 36 base trade centers).

– Documents to be submitted

• 2 copies of the foreign investment report by the method of either acquisition of new shares or contribution
• A certificate of a foreigner’s nationality
  • In case of contribution to a non-profit corporation in short-term sectors, a document of proving independent research facilities and documents as followings:

① Employment of More than 5 dedicated research staffs with more than 3 years’ research careers with bachelor’s degrees, and with more than master’s degrees in SC sectors.
② Performance of R&D activities which accompany high technologies in accordance with article 16-1(1)2 of Enforcement Decree of the Restriction of Special Taxation Act

• In case of contribution to a non-profit corporation other than the short-term sectors, any document which the foreign investment committee accepts it belongs to following as below.

① Where a non-profit corporation established for academic, artistic, medical, and educational promotion performs the business for expert cultivation, expansion of international exchanges in the applicable area
② Where it is a regional headquarter of international organization which performs private or intergovernmental cooperative projects
– The application receipt agency should issue a certificate of filing on confirming the descriptions, omissions, enclosed, etc.

– In case of a new non-profit corporation, the license/ permit of competent administrative agency should be achieved.

– Accept getting a certificate of foreign currency purchase after getting the foreign currency capital or getting the confirmation of contribution completion in kind after getting the capital goods as like-kind:

– Register a non-profit corporation to a competent court registry through support of judicial scrivener or IK comprehensive administrative office

– The foreign-invested company registration should be made to a filing agency within 30 days from the completion date of contribution object.