[Consultation] Review of legal requirements for SMEs

Law firm Veat was commissioned by A, a game development company, and conducted legal review regarding inquiries related to SME requirements.

Veat’s regular legal counsel client, A (a game development company), inquired regarding SME requirements in order to apply for an SME confirmation certificate.

To be recognized as an SME under the “Small and Medium Enterprises Act,” various criteria such as revenue, total assets, and substantial independence must be met. Therefore, we provided information regarding these criteria and conducted a legal review to determine if A met these requirements. Specifically, we focused on reviewing the matter of substantial independence criteria, including the judgment criteria of the largest investor, whether stock ownership is indirect, and the calculation method for indirect stock ownership ratio based on the Enforcement Decree of the International Tax Act, to determine whether the independence criteria were met.

Law firm Veat provides “regular legal counsel services” at reasonable costs to help clients who need legal advice in the event of various issues that commonly arise during startup/corporate operations.

If you need regular legal advice as a startup/corporate operator, please feel free to contact Law firm Veat at any time.

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Law firm Veat