Individual business registration and application
All sole proprietorships must register as a business when starting a business. To this end, let’s look at the individual business registration application documents and the business registration certificate issuance period.
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What is individual business registration?
Individual business registration is basically required for each place of business. Within 20 days from the start of business, prepare the required documents below and apply to the local tax office.
1 copy of business registration application
1 copy of business license/registration certificate or report completion certificate (in the case of a business that requires permission, registration or reporting)
A copy of the lease agreement (if the business is leased)
A copy of the business permit (permission, report) application form or a business plan (if you wish to register before permission)
In the case of joint business by two or more people: Documents proving the joint business such as a partnership agreement (business registration is applied by representing one of the joint business operators)
1 copy of drawing (if part of a building to which the Commercial Building Lease Protection Act is applied)
1 copy of statement of source of funds (in case of gold and silver wholesale and retail business, taxable entertainment place operator, fuel sales business, collection and sale of materials for reuse)
Trust contract (in the case of business registration of trust property under Article 8 of the Value Added Tax Act)
1 copy of the rental housing statement (Form No. 106 of the Enforcement Regulations of the Income Tax Act, in case of housing rental business)
What is the business registration issuance period?
Business registration issuance period is within 2 days. Excludes Saturdays, public holidays and Labor Day.
However, if the tax office needs to confirm the place of business, it is issued within 7 days.
Before applying for business registration, check whether the business is subject to permission, report, or registration
There are industries that require permission, reporting, and registration. In this case, when applying for business registration, you must submit a copy of the permit, report, and registration certificate in order to register the business.
You can apply for business registration before permitting, reporting, or registration. In this case, a business plan must be submitted along with a copy of the permit, report, and registration application. In addition, if you receive a permit, report, or registration certificate later, you must submit a copy.
You can register your business even before starting your business
If you purchase products or facility materials before starting your business, you can register your business in advance. As an exception, you can receive a tax invoice by registering as a business before starting your business. At this time, it should be objectively confirmed that you will start a business.
Above, we looked at the application documents for individual business registration and the issuance period.