[Counsel] Representation in the declaration of securities acquired by foreigners

Association G, running a venture capital business in Japan, recently invested in equity shares of a mid-sized company in Korea. VEAT Law Firm successfully declared financial instruments acquired by a venture capital company in Japan for equity investment in said local company.

The acquisition value of the Redeemable Convertible Preference Shares to be acquired in cash by the Japanese venture capital company was approximately 2.5 billion KRW as of the day declared. The foreign investment counseling team of VEAT Law Firm submitted the declaration form pursuant to Article 18 of the Foreign Exchange Act by thoroughly examining the class, quantity, and unit price of the equity shares that the Japanese venture capital company planned to acquire.

The above securities acquisition declaration form is for your reference only, as it is a photo image made by VEAT Law Firm by editing the details of the actual declaration.

Foreigner nationals are required to declare their acquisition of financial instruments or securities from a local company pursuant to the Foreign Exchange Act. It is safe and efficient to receive help from legal experts, as the necessary documents and declaration procedures vary depending on the relevant statutes and regulations. According to a press release by the Financial Supervisory Commission on December 21, 2018, it published a strong determination to impose stringent administrative sanctions on violations of the statutes related to foreign exchange by operating a dedicated team organized for investigation of foreign exchange offenses. (Source: http://www.fss.or.kr)

This information should be noted for your reference, as it applies to both investments of funds overseas or when funds are invested by foreigners.

VEAT Law Firm provides carefully prepared legal counsel for the growth of its clients based on expertise accumulated through extensive experience in consulting and the declaration of many foreign nationals' investment cases. Those in need of legal counseling on their equity investment are invited to contact us using the following route.