Invest in the Future of Jeju Part 02. Investment Attractiveness of Jeju Special Self-governing Province 22 23 JDC Project Guide & Investment Proposal Companies implementing investment after signing an investment agreement Requirements Support for lease fee for 1 year for the business preparation office before the operation of the investment project Details Investment Preparation Support Office Lease Fee Type ※ Subsidy support for Companies Outside the Metropolitan Area, cultural industries / information & communication industries, and foreign investment companies, as well as special support for large-scale investment companies, are paid after deliberation and decision by the Jeju Special Self-Governing Province Private Investment Attraction Committee Other Supports Subsidy Application Process in accordance with the Jeju Special Self-Governing Province Investment Promotion Ordinance PROCESS 1 Company Jeju Prior consultation and MOU signing PROCESS 2 Company Jeju Subsidy support application, feasibility analysis, business due diligence, etc. PROCESS 3 Jeju Provincial Private Investment Attraction Committee Determination of support through deliberation and decision PROCESS 4 Jeju Company Support for 100% of settlement subsidy and 70% of facility investment subsidy PROCESS 5 Jeju Company Support for 30% of facility investment subsidy upon completion of the investment PROCESS 6 Jeju Company Settlement review and follow-up management National Tax (Article 63 and 63-2 of the Restriction of Special Taxation Act) Exemption for 5 years and 50% reduction for 2 years thereafter Jeju-si Relocation of corporations and/or factories of companies with business performance for 3 years or more (2 years for SMEs) in Metropolitan Overcrowding Control Area ※ Corporation transfer or conversion to noncorporate use in Metropolitan Overcrowding Control Area must be carried out within 2 years from the date of start of business by relocating the corporation Applicable Subjects Exemption for 7 years and 50% reduction for 3 years thereafter Seogwipo-si Corporate Tax Exemption ※ Deferment of tax for 5 years on the difference in transfer caused by transferring buildings and lands for relocation, and equal taxation for 5 years thereafter Local Tax Relocation of corporations Relocation of factories Relocation of export company corporations (factories) Relocation of new growth manufacturing corporations (factories) Applicable Subjects Real estate and machinery Exemption Targets Exemption of Acquisition Tax Article 79 Sections 1 & 2 of the Restriction of Special Local Taxation Act Article 80 of the Restriction of Special Local Taxation Act Related Provisions Relocation of corporations Relocation of export company corporations (factories) Relocation of new growth manufacturing corporations (factories) Applicable Subjects Registration of corporation and real estate Exemption Targets Exemption of License Tax Article 79 Sections 1 & 2 of the Restriction of Special Local Taxation Act Related Provisions * Export Companies: Over USD 1M per year for the last 3 years (even 1 time is also considered recognized) * New Growth Manufacturing: Water leisure equipment, new and renewable energy equipment, leisure sporting goods * Inquiries: Corporate Tax Division, Jeju Tax Office Jeju-si Seogwipo-si Exemption of Property Tax Exemption for 7 years Exemption for 10 years Relocation of corporations or factories in Overcrowding Control Area Applicable Subjects * Reduction for relocation of corporations: Article 79 Sections 1 & 2 * Reduction for relocation of factories: Article 80 Section 1 Related Provisions Exemption for 5 years Relocation of export company corporations or factories Exemption for 7 years Exemption for 10 years Exemption for 7 years Exemption for 15 years Exemption for 10 years Exemption for 7 years Exemption for 15 years Investment companies with facility investment* exceeding KRW 30B or with a number of full-time employees exceeding 50 * Construction cost, facility equipment purchase cost, infrastructure installation cost Requirements Support for special subsidy up to KRW 5Bwithin budget depending on investment performance (however, within 5% of the investment amount for special subsidy) Details Special subsidy Type Large-scale Investment Companies Tax Reduction or Exemption for Relocating Companies in accordance with the Restriction of Special Taxation Act, etc. * Inquiries : Corporate Tax Division, Jeju Tax Office * Basis for Support: Article 79 of the Restriction of Special Local Taxation Act, Articles 14 & 15 of the Province Tax Exemption Ordinance Relocation of Corporations (Factories)
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