[Consultation] Review of the need for amendment of overseas direct investment report filing.

A Corporation is seeking a visa to employ citizens for nationwide employment, and because the Singaporean subsidiary is a shareholder, it decided to temporarily entrust its shares to Singaporean citizens. In this case, it inquired to Law firm Veat about whether a change in the Overseas Direct Investment Report was required.

Law firm Veat examines the Foreign Exchange Transaction Regulations meticulously, including the regulations regarding foreign investment and foreign exchange transactions, and provides legal advice to ensure appropriate legal advice is provided based on various experiences. If you need legal advice related to Foreign Exchange Transaction Regulations, such as the Overseas Direct Investment Report, please contact Law firm Veat.

In the case of the Supreme Court, the trust is valid within internal relationships where the trustee holds the ownership and manages and earns income while holding only the name of ownership, as seen in the rulings of the Supreme Court on May 18, 1965 (65da312) and November 23, 1982 (81da372), etc. However, in external relationships with third parties, the trustee acquires complete ownership, and any third party who acquires the trust property from the trustee acquires ownership without regard to good faith or bad faith (Supreme Court rulings of September 19, 1963 (63da388) and November 30, 1970 (70da1831), etc.). The Daejeon High Court’s ruling on September 22, 2011 (2011nu585) was also considered.

Law firm Veat provides assistance to ensure appropriate legal advice can be provided by analyzing relevant regulations based on its experience with foreign investment and foreign exchange transactions. If you need legal advice related to Foreign Exchange Transaction Regulations, such as the Overseas Direct Investment Report, please contact Law firm Veat.

Thank you.
Law firm Veat