Applying "Internet banking" and "corporate check card", and Transfer of the paid-in capital.

After setting up the business bank account, every business entity had better join "Internet banking" and get the "corporate check card" from the bank.

These are not only for the convenience of operating a business, but also for the purpose of tax.
That is to say, joining Internet banking can make you get the "electronic certificate" for your tax invoice, and getting the corporate check card can make you prepare the "proper document" for your tax deduction.

The process for it is as below.

1. Setting up the business bank account.

After getting the business license, the new business entity can set up the "real" bank account in Korea, on the name of the new business entity.  

2. Applying "Internet banking".

For the documents needed to join the internet banking system, you have to ask the bank where the company has an account. Normally the documents are as follows in the case of the agent’s visiting that bank.

- Original of ID card of the visitor.

- Copy of Business registration certificate.

- Original of Certificate of Registered Seal Impression.

- Original of internet banking application form including the letter of attorney with the registered seal on it.

- Original of bank book.

And then you can go to the computer, approach to the bank website, and get the company’s electronic certificate.

There are several type of electronic certificate, such as for internet banking, for electronic tax invoice, for every use, and so on. Among these, you should get the electronic certificate for internet banking and electronic tax invoice so that you can use it on the “electronic tax invoice system”.

3. Applying "corporate check card".

The check card is a kind of debit card. In Korea, a business starter maybe can not get the corporate credit card. So they get the corporate check card instead of it.

When you spend money for your business, you use this corporate check card. And you can get the tax deduction from the check card receipts. Of course that check card should be used only for the business.

Please ask the corporate check card when you applying the internet banking to the bank, and let them set the money to be withdrawn from the business bank account.

4. Transfer of the paid-in capital

After setting up the "real" bank account in the name of the new business entity, the funds in the "temporary bank account" will be transferred to the real bank account.

Tel: 02-555-3919 from Korea,+82-2-555-3919 from abroad. Email: energy17jyw@gmail.com