Tax Alert for Long-Term Foreign Residents in Korea!
Make sure your international compliance is fully secured and avoid costly penalties.
Besides the well-known Foreign Financial Account reporting(해외금융계좌신고), there’s a critical, often overlooked obligation: “Foreign Real Property reporting(해외부동산 취득·보유·투자운용(임대) 및 처분 명세서
).
Suppose you are a foreigner who has resided in Korea for more than five years. In that case, you are legally required to report all activities (purchase/ownership/rent/disposal) related to your overseas real estate assets.
The reporting due date for the year 2025 transaction is June 30, 2026.
Failure to report can result in severe penalties: up to 10% of the unreported value, capped at KRW100,000,000.
Need clarity on your specific situation? Book a consultation today.
Contact: christie@hanatax.net
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