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34-5 · Foreign employment & nationality

Foreign Exchange Reporting for Gifts and Inheritances to Non-resident Family Members

When a family member living abroad receives domestic real estate, shares or cash as a gift or inheritance, whether a report is required and to which authority depends, under the Foreign Exchange Transactions Act and the Foreign Exchange Transaction Regulations, on whether the recipient is a non-resident, whether the recipient is a Korean national or a foreign national, and what kind of asset is involved. A Korean national is treated as a non-resident when engaged in business abroad or staying abroad for 2 years or more; acquisition of domestic real estate or won-denominated securities by a Korean non-resident, and acquisition of real estate or securities by any non-resident through inheritance or bequest, require no report. When a foreign non-resident receives domestic real estate or securities as a gift, a report to the Governor of the Bank of Korea is required under Articles 9-42 and 7-32 of the Regulations, and when a resident gives cash to a foreign non-resident, the resident donor reports to the Bank of Korea. The report must be completed before registration, transfer of title or remittance, and Hwang Yunsang Administrative Office checks whether a report is required and prepares and submits the report and supporting documents on the client's behalf.

HWANG YUNSANG ADMINISTRATIVE OFFICESONGDO · 37.3892° N / 126.6439° E
#Foreign Exchange Reporting for Gifts and Inheritances to Non-resident Family Members#Official check#34-5
01

Procedure

Procedure

Procedure type
  • Notification Difficulty Low

    You submit the statutory report form and required documents. Once the documents are in order the report is accepted; for some reports the authority checks the contents before accepting it.

  1. 01

    Resident or non-resident status: Under Article 10 of the Enforcement Decree of the Foreign Exchange Transactions Act, check whether the family member is engaged in business abroad or has stayed abroad for 2 years or more (temporary returns of up to 3 months count toward the 2 years), and for a foreign national, whether he or she left Korea and has stayed abroad for 3 months or more. Nationality is confirmed separately by passport.

  2. 02

    Reporting requirement by asset and cause: Real estate is checked against Article 9-42, securities against Article 7-32, and cash gifts against Articles 7-44 to 7-46. Gifts received in Korea in won by a Korean non-resident and acquisitions by inheritance or bequest need no report, while acquisitions by gift by a foreign non-resident must be reported to the Bank of Korea.

  3. 03

    Authentication of overseas documents: Powers of attorney and statements signed abroad need an apostille if the country of residence is a party to the Apostille Convention, or consular confirmation at the Korean mission if it is not, and documents in foreign languages need a translation attached.

  4. 04

    Preparing and filing the Bank of Korea report: File a Real Estate Acquisition Report for real estate or a Securities Acquisition Report for securities with the Bank of Korea, attaching the gift agreement, certified copy of the register and other transaction evidence. For a cash gift, the resident donor is the reporting party, and registration, transfer of title or remittance proceeds only after the report is completed.

  5. 05

    Foreigner's real estate acquisition report: When a foreign national receives domestic real estate as a gift, a Foreigner's Real Estate Acquisition Report is filed with the city, county or district office where the property is located within 60 days of the contract date, or within 6 months of acquisition in the case of inheritance, under Article 8 of the Act on Report on Real Estate Transactions.

  6. 06

    Preparing to remit sale proceeds abroad: To send proceeds from selling the property abroad, submit evidence of acquisition and sale to the foreign exchange bank under Article 9-43 of the Regulations; a non-resident overseas Korean remits through the designated foreign exchange bank within the amount stated in the Real Estate Sale Proceeds Confirmation or Source of Funds Confirmation issued by the competent tax office.

02

Filing route

Filing route

Bank of Korea (gift acquisitions by foreign non-residents and cash gift reports) / City, county or district office where the property is located (foreigner's real estate acquisition report) / Foreign exchange bank or designated foreign exchange bank (remittance of sale proceeds abroad)

Confirm the current filing office, jurisdiction, and online availability on the official website.

Official check
Actual processing agencyCompetent Korean authority or official service · Competent Korean authority or official service · Competent Korean authority or official service
Statutory and policy authorityCompetent Korean authority or official service · Ministry of Land, Infrastructure and Transport
Online routeCompetent Korean authority or official service
03

Deadlines & processing notes

Deadlines & processing notes

Check deadlines and next steps against the notice, filing date, and any request for additional documents.Official check
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Basic documents

Basic documents

Basic documents0 / 8

외국인 부동산등 취득 신고서, 외국인 부동산등 계속보유 신고서(별지 제6호서식)

HWP originalPDF

Source: Korea National Law Information Center, 「부동산 거래신고 등에 관한 법률 시행규칙」 별지 제6호서식(effective 2026.02.10.) · checked 2026.10.26. · the form is in Korean; confirm it is the current version before submitting.

Registering or remitting a reportable gift without the report can lead to an administrative fine of up to KRW 100 million under Article 32 of the Foreign Exchange Transactions Act, and two or more violations within 5 years can result in suspension or restriction of related foreign exchange transactions for up to 1 year.

Scope of services

Scope of services

Hwang Yunsang Administrative Agent Office prepares and translates documents for administrative agencies, submits them on your behalf, and guides you through permit, application, and notification procedures. Services that require the principal’s personal appearance, principal’s application, or electronic signature may be limited in delegation.