How to register and apply as an individual business
One of the things that my colleagues around me unexpectedly ask me is ‘business registration’. There are quite a lot of people preparing for personal business, and many people, including me, plan two jobs and do their own work in parallel to generate profits.
In the case of short-term profits, it is not too much to do at the same time as this job, but if you are running a cafe business like me or running an online mall such as Smart Store or Coupang Place, you must register as a business.
If you have not registered as an individual business even though you have earned income above a certain level other than your main business, you may have to pay additional taxes from the tax office and the National Tax Service if you are caught. Therefore, it may be wise to plan in advance and register for ‘individual business registration’ before income is generated.
In this post, I will put together the individual business registration and application method in order.
Application for Registration of Sole Entrepreneur – Procedure
Business registration must be done for each business place. Since there are several business places, it is not a problem later if you register each separately according to the ‘type of business’ and ‘type of business’. You need to apply quickly within 10 days. If… if it is very difficult to apply in person, you can also register online. For online registration, log in to ‘Hometax’, sign up, prepare the necessary documents, and submit.
Required documents are as follows: – ID card of the representative – Application for business registration – Permission and permission registration certificate (in case of licensed business) – Seal certificate – Partnership contract (only in case of partnership)
From experience, it will be convenient if you prepare the documents right away and apply. Registration is over soon.
Application for Business Registration Certificate – How to
Applying for a business registration certificate can be done quickly and easily online.
First of all, access Hometax and click ‘Apply/Submit’ on the main screen.
Source: IRS
Click ‘Apply/Correction of business registration’.
Source: IRS
The next page should look something like this: You can use services related to business registration application/correction, business closure report, civil complaint certification, and inquiry. The displayed menu may differ depending on the type of logged-in user, such as an individual or business operator.
Source: IRS
After that, you can proceed as instructed to apply for individual business registration. Please enter your name and contact information!
When entering basic information, enter basic information and be sure to enter one of business phone number / home phone number / mobile phone number. If all phone numbers are ready, you can enter them all. ^^
Source: https://www.istockphoto.com/kr
Next, check the text message agreement and e-mail reception agreement, click Business Address Search, and enter the address written on the lease agreement.
Enter industry code
When registering as an individual business, you must enter the industry code during the application process.
You can enter the type of business you want (business) in ‘Industry Code’, and since each business is different when setting the type of business number, you can find and enter the business number you want to actually proceed with. I was selling online. To select an online shopping mall operator, set it to 525101 (e-commerce retail business).
If you have entered the basic information like this, scan each document to be submitted and upload the attached file.
After completing the application for individual business registration, a business registration certificate is issued within 3 to 5 days from the application date.
Today, I briefly posted how to apply for individual business registration online.