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Korean Job Discussion Forums
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Poker
Joined: 16 Jan 2010
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 Posted: Sat Oct 23, 2010 7:38 am Post subject: |
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But back to the OP:
a) Korean immigration MAY find out, but since it's YOUR money they're not going to care.
b) Not if you have it sent by wire transfer. There will be bank records that prove that it was sent from your personal account in Taiwan. On the other hand, if you bring it over in cash, it will be much harder to prove that it is yours and was earned legally, in the event that you are questioned.
c) No. Korea can only tax money that is earned in Korea.
d) Yes, but not every banker at every branch may know that. You might need to keep looking until you find someone who knows what they're talking about (sadly, a rare quality in Korean bankers, in my experience).
e) It's legal to invest in Korea and to earn money on those investments. There is a specific visa for foreign investors (who invest around USD $50,000 I believe), but you do NOT have to have that particular visa to invest and acquire dividends legally. |
Thank you Yoja, this is very helpful.  |
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yoja
Joined: 30 May 2008
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| Posted: Sat Oct 23, 2010 7:47 am Post subject: |
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Keep in mind that you probably will have to pay taxes (in Korea) on the returns on your Korean investments.
However, I don't have any money invested here so I have no idea what the specific details of the laws are or what the tax rate would be. That information would be disclosed to you at the time of investment by the friendly, reputable investment banker who is assisting you.  |
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