Requirements for Establishment of Non-profit Corporation & Non-profit Foundation Corporation under the Ministry of Foreign Affairs
a corporation or foundation 
Establishment of a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs

: Confirmation of competent authorities

Before establishing a non-profit corporation, one of the important parts is to clarify the purpose and business of the corporation and find the relevant competent authority.
For example, if a corporation's business purpose is to support foreign diplomacy, exchange, or support relief activities to victims of certain overseas countries, it must be approved as a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs.

However, unless it is a special case, it is important to check the local government in charge because each local government is entrusted with work depending on the location of the office, and the requirements for permission may also vary.

Application for permission to establish a non-profit corporation

Establishment of a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs

: requirements for establishment

When establishing a non-profit corporation or foundation under the jurisdiction of the Ministry of Foreign Affairs, one of the most important factors is to have some basic property, of course, although the standards required by each local government vary.

<Basic Property Standard>

Corporation: 50 million won or more, 100 or more permanent members

Foundation: 500 million won or more

In addition to the basic property and operating property conditions, the establishment of a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs must prove its business performance for at least one year

Establishment of a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs

: Establishment procedure

Next, let's look at the process of establishing a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs.

In general, non-profit corporations go through three stages of establishment as follows.

Stage 2 can be seen as the establishment permit stage,

First of all, it is important to find the competent authority in charge of the target project, and it is important to check and coordinate the establishment requirements required by the relevant authority.

The third stage is the registration of establishment, and a corporation is established by registering its establishment with the competent court registry where the main office of the non-profit corporation is located (Article 33 of the Civil Act)

I understand that those who establish their own non-profit corporations have a lot of difficulty preparing documents for the articles of association, business plans, and minutes.

Process related to the establishment of a foundation - Property appearance, corporate name determination, purpose, preparation of articles of association, application for permission and approval from the relevant competent authority, etc. may be somewhat complicated

foundation
A corporation legally formed to operate property dedicated to a certain purpose as independent rather than privately owned. Only non-profit corporations are recognized, and there are school corporations and religious corporations.

The visa type of the CEO of the foundation must be a long-term visa!

The documents vary depending on where the competent authority is, and the examination period takes about 2 months

 In some cases, non-profit organizations and private organizations (NGOs) are abbreviated as non-profit organizations (NPOs).

Unless there is a special reason, the examination shall be conducted within 20 days and permission or non-permission shall be made

The appearance of the foundation should be approximately 300 million or more, and the establishment of a corporation must be made after obtaining permission.

In particular, if a non-profit foundation is established among non-profit corporations, at least 500 million won must be secured to be considered as a non-profit foundation under the jurisdiction of the Ministry of Foreign Affairs.

For example, in order to obtain permission to establish a non-profit corporation under the jurisdiction of the Ministry of Foreign Affairs, at least 100 members must be present and past activities must be performed.

A certain amount of basic property/operating property is also required because it is believed that the property necessary for a corporation to operate must be secured to some extent.

Property is an important part of the establishment of a non-profit corporation to the extent that the articles of association stipulate as follows.

Even though it's a non-profit corporation, why do you think the part about property is important?

Especially important when establishing a non-profit foundation!!