Foreigners wanting to sell products online in a popular Marketplaces such as Coupang many face difficulties with the language barrier and governmental procedures.
well, If you are a Foreigner with F-2,F-4, F-5 or F-6 visa in Korea and want to start selling online, Setting up an entity and selling online is as easy as it can get.
All you need to know is confirm the product are you going to sell. There are numbers of Marketplaces where you can sell at a time, the big ones are like Coupang, 11street, Naver shopping etc.
Now, In order to setup an sole proprietor, prepare the following documents :
1) Alien Registration Card
2) House Contract
3) Choose a Unique name for the business
“visit the nearest local tax office for registration, ask the information desk for the business registration department.
Fill up an application form, give a name to your company and specify what you will be selling or what is your business type.
You will need a phone number, an Address where you want to set up your office (since it a sole proprietor, the office can be your home address as well).
Tax office will register your name and provide you the business registration certificate instantly.
Once you have the business registration done, in order for you to actually start selling online, you need to visit local metropolitan office to request 통신판매업신고증명서 that will allow you selling online in Ecommerce Marketplaces
under your business name. This paper is also needed to open a Bank Account under your company name with a local Bank and banks may have their own requirements. This selling license paper is required by almost all of the marketplaces.
There is no such requirements as minimum capital requirements to register a sole proprietor company and start doing business. Enjoy your selling online and making money.