Can I form an LLC in Florida if I live in South Korea and have never visited the US?

Living in South Korea does not change this: yes. US LLC formation does not require US residency, a US visit or a Social Security Number. Founders based in South Korea form Florida LLCs remotely using a registered agent for the required US address, and they apply for an EIN with "Foreign" or "N/A" in place of an SSN.

Can a South Korean resident open a Mercury or Relay account?

Yes in principle. South Korea is not on Mercury's prohibited list (residence-based) or on Relay's list (owners' citizenship or residency), subject to each bank's own review.

How long does a Florida LLC take from South Korea?

Living in South Korea does not change this: state approval in Florida typically takes a few business days to about two weeks depending on filing volume, and the EIN can often be obtained the same week by phone. Most founders have the LLC, the EIN and a bank application in 2-4 weeks.

What time can I phone the IRS from South Korea?

The IRS international line is open 6 a.m. to 11 p.m. Eastern. South Korea stays on UTC+9 all year, so the window is 8 p.m. to 1 p.m. in US standard time and 7 p.m. to noon in US daylight time.

What ongoing filings does a South Korean founder need for a Florida LLC?

Living in South Korea does not change this: two matter most: Florida's own annual requirement ($138.75 mandatory annual report, due every year) and the federal Form 5472 with a pro forma Form 1120, due every year for a foreign-owned single-member LLC. Missing the federal filing carries a $25,000 minimum penalty.

Form a Florida LLC from South Korea: Complete 2026 Guide

Q: What is South Korea's low-tax threshold for a controlled foreign company?

The foreign corporation's average effective income tax rate for the three most recent consecutive years is 17.5 percent or less, which is 70 percent of the 25 percent top corporate rate, for tax years beginning on or after 1 January 2026.

Everything a South Korea-based founder needs to form, bank, and run a Florida LLC — costs, EIN process, and tax angles specific to South Korea.

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$125 · State filing fee

$138.75/year, due by May 1 · Annual fee

5-10 business days · Avg. filing time

Wire/ACH via Mercury or Relay · Transfer method

Quick Summary

Country: South Korea
State: Florida
Avg. filing time: 5-10 business days (standard online filing)
State filing fee: $125 ($100 Articles of Organization + $25 registered agent designation)
Annual report fee: $138.75/year, due by May 1 (mandatory - not free, unlike Texas; $400 late penalty and eventual administrative dissolution if missed)
Transfer method: Wire/ACH via Mercury or Relay (not on either prohibited-countries list)

Why Florida

Florida in one paragraph: $125 to file ($125 online), then $138.75 mandatory annual report fee, due every year each year. The state imposes no personal state income tax. Florida is the only one of these five states that discloses member names on its public annual report. For a South Korea-based owner the state choice mainly decides cost, privacy and paperwork, not your home-country tax result. If a well-known state with strong business infrastructure is what you are optimizing for, Florida deserves a close look.

What It Costs

The cost side of a Florida LLC: $125 state fee ($125 online), a registered agent at typically $100-150 per year, a free IRS EIN, and a bank account that is usually free. Annual state requirement in Florida: $138.75 mandatory annual report fee, due every year. If you use EasyBrise, Global Launch is $295 for year one (registered agent included) and $149 per year after, and for a founder in South Korea the whole first year typically comes in well under $500.

Who This State Is For

Florida fits if you want a well-known state with strong US business infrastructure and don't mind that Florida is the one state on this list requiring member names on the public annual report. Check the comparison table above before you commit, as switching later is not a simple amendment: the Florida LLC would be dissolved and a new one formed elsewhere.

Post Formation Checklist

Your Florida LLC exists once the state accepts the filing, but it is only ready to trade after these steps: sign the Operating Agreement; get the bank account open; apply for payment processors; calendar your Florida annual obligation ($138.75 mandatory annual report, due every year) and the federal Form 5472 and pro forma 1120. On BOI: FinCEN's rule in force since August 14, 2026 permanently exempts all US-formed LLCs, so there is nothing to file there.

How The Formation Process Works

Here is how Florida formation works for someone in South Korea. File the Articles of Organization with the Florida Secretary of State, using a registered agent's physical Florida address. Request your EIN from the IRS, writing "Foreign" or "N/A" in place of an SSN (phone: 267-941-1099, about 45-60 minutes; fax or mail: 4-6 weeks). Then apply for Mercury or Relay online. Every step can be done remotely.

Calling The IRS From South Korea

The IRS international EIN line (267-941-1099) answers from 6 a.m. to 11 p.m. Eastern. South Korea stays on UTC+9 all year, so the window runs from 8 p.m. to 1 p.m. Korean time in US standard time and from 7 p.m. to noon in US daylight time. Call from your evening or early morning and plan on 45-60 minutes.

Five Year State Cost Of A Florida LLC

Over five years, the state-level cost of a Florida LLC is a $125 filing fee plus $138.75 a year for five years, so $818.75 in total, before the registered agent. That makes Florida the second most expensive of the five states on this measure. The same arithmetic across the five states runs from $50 to $2,110. For a South Korean owner, the low threshold of the controlled-foreign-company rules is the central issue, so budget for a Korean tax adviser's written view alongside the US costs.

Florida LLC For South Korean Founders

Florida appeals to South Korean founders with customers or relatives in the state. Its public annual report names members, and the $138.75 annual fee recurs every year.

The Three Year Effective Tax Rate Test

The test looks at the foreign corporation's average effective income tax rate over the three most recent consecutive years and applies where it is 17.5 percent or less. That figure is 70 percent of the 25 percent top marginal corporate rate and applies from tax years beginning on or after 1 January 2026. A non-resident-owned single-member LLC earning only non-US-source income usually owes no US federal income tax, so its effective rate can be near zero. The summary mentions no active-business exclusion, so ask your adviser whether one applies.

Banking From South Korea Mercury And Relay

South Korea is not on Mercury's prohibited-countries list, which is based on country of residence, and it is not on Relay's list, which looks at the citizenship and residency of the owners. Both banks run their own reviews, so approval is never guaranteed. Neither bank's published rules restrict international wires involving South Korea. Won are converted to dollars when you fund the account, and Korean banks apply their own foreign exchange reporting, so ask your bank what documents it needs.

Your Recurring Dates As A South Korean Owner

As a South Korean owner, your recurring dates look like this. State: Florida's $138.75 annual report is due every year between January 1 and May 1. Federal: Form 5472 with the pro forma Form 1120 is due on the return due date, April 15 for a calendar-year LLC, extendable with Form 7004. For the one-off EIN call, the IRS line (6 a.m. to 11 p.m. Eastern) is open 8 p.m. to 1 p.m. Korean time in US standard time (7 p.m. to noon in US daylight time). Put the state date and the federal date in your calendar when the EIN arrives, because a missed Form 5472 carries a $25,000 minimum penalty.

A Proposal To Lower The Threshold To 15 Percent

PwC's August 2026 news flash on Korea's tax reform proposals says the low-tax threshold would fall from 17.5 percent to 15 percent to align with the global minimum tax rate, with most changes taking effect from January 2027 if the National Assembly approves. Even a lower threshold leaves a zero-tax LLC inside the test, so the proposal does not remove the question. Check the status of the bill with a Korean adviser.

South Korean Controlled Foreign Company Rules And Your LLC

PwC's Korea summary says a Korean national or company that directly or indirectly holds at least 10 percent of a foreign corporation is covered, so an individual is within the wording, although the page does not define national or address residency. The test is whether the foreign corporation's average effective income tax rate over the three most recent consecutive years is 17.5 percent or less, which is 70 percent of the 25 percent top corporate rate for tax years beginning on or after 1 January 2026. If it applies, undistributed earnings are deemed paid as a dividend to the Korean shareholder. A single-member LLC that bears little or no US federal tax sits on the wrong side of that test, so a Korean adviser must model it.

Requirements

Requirement	Needed
US Social Security Number
US visit required
Registered agent with US address
Florida annual filing
Federal Form 5472 + pro forma 1120

Costs

Item	Cost
State filing fee	$125 (mail) / $125 (online)
Registered agent (annual)	$100-150/yr (or included in EasyBrise Global Launch)
EIN application	Free via IRS (or via a paid service)
US business bank account	Free (Mercury / Relay)
EasyBrise Global Launch (year 1, incl. registered agent)	$295
EasyBrise renewal (year 2+)	$149/yr

Who Should Choose Florida

Choose Florida if

you want a well-known state with strong US business infrastructure and don't mind that Florida is the one state on this list requiring member names on the public annual report

Consider another state if

your priorities (fundraising plans, revenue level, or reporting tolerance) point more strongly to one of the other four states in the comparison table above.

Comparison

State	Filing Fee	Annual Requirement	State Income Tax	Privacy
Wyoming	$100 mail / $102 online	$60	None	No public member names
Delaware	$110	$400 flat annual franchise tax	None	No public member names
Texas	$300	$0 franchise tax for LLCs with revenue below the no-tax-due threshold	None	No public member names
New Mexico	$50	$0 ever	None	No public member names
Florida	$125	$138.75 mandatory annual report fee, due every year	None	Member names public

Taxes

Comprehensive US-Korea tax treaty in force; Sept 2025 Supreme Court ruling changed treaty sourcing rules for certain royalty payments

Banking

Mercury
Popular with non-resident founders; requires US LLC + EIN; no US visit needed
Relay
Remote-friendly for non-residents; requires formed US entity

Frequently Asked Questions

More guides for founders in South Korea

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