Buying a Korean Real Estate Property and getting the ownership as a non-resident in Korea.
Sang Kyu Noh · 2022-04-19 14:46:06
Non-residents who buy Korean Real Estate Properties must report the amount for it to the Bank of Korea by a low of Foreign Exchange Act.
Guides of Non-Resident buyers in Korea to report to the Bank of Korea. (Shall be reported beforehand)
Subjects to Report:
- Getting the ownership of a Real Estate Property by overseas wire-transfers.
People to Report:
- Non-Residents or Attornies (Authorized Agents).
Amounts and purposes to Report:
Amount: All amounts.
Purposes: All properties.
*Notice: Properties of these specific zones/areas should get the permissions from Korean Goverment beforehand.
-Military Establishments On Reservation, Cultural Properties Protection Zone, Ecological Preservation Zone, and so on.
Required documents to submit to report.
-Real Estate Accuisition Notification(Report)
-Contract Documents for the Sale.
-Property Appraisals.
-Identifications(e.g. Passport)
-Power of attony and Identication (For Auturized personnels or attronies)
Making a Contract for the property -> Reporting the Real Estate Aqcuisition -> Paying the amount -> Applying the owership of the Real Estate Property.
Please refer the above metioned to non-resident Real Estate Property Buyers in Korea.
Feel free to ask us at anytime if you are interested in buying Korean Real Estate Properties.
We have a lot of experiences for buying real estate property of foreign buyers.
Thank you,
Best regards,
Guides of Non-Resident buyers in Korea to report to the Bank of Korea. (Shall be reported beforehand)
Subjects to Report:
- Getting the ownership of a Real Estate Property by overseas wire-transfers.
People to Report:
- Non-Residents or Attornies (Authorized Agents).
Amounts and purposes to Report:
Amount: All amounts.
Purposes: All properties.
*Notice: Properties of these specific zones/areas should get the permissions from Korean Goverment beforehand.
-Military Establishments On Reservation, Cultural Properties Protection Zone, Ecological Preservation Zone, and so on.
Required documents to submit to report.
-Real Estate Accuisition Notification(Report)
-Contract Documents for the Sale.
-Property Appraisals.
-Identifications(e.g. Passport)
-Power of attony and Identication (For Auturized personnels or attronies)
A Flow Chart for getting an owership of Korean Real Estate Property.
Making a Contract for the property -> Reporting the Real Estate Aqcuisition -> Paying the amount -> Applying the owership of the Real Estate Property.
Please refer the above metioned to non-resident Real Estate Property Buyers in Korea.
Feel free to ask us at anytime if you are interested in buying Korean Real Estate Properties.
We have a lot of experiences for buying real estate property of foreign buyers.
Thank you,
Best regards,
