South Korea

South Korea has a relatively high top marginal personal income tax rate of 45% alongside a corporate income tax rate of 25%. The higher rates are typical of countries with extensive public services and social safety nets. Capital gains are subject to a 22% tax rate. Investors should factor this into their planning, particularly for significant asset disposals. South Korea taxes residents on their worldwide income, including foreign-sourced earnings. This means income from overseas employment, investments, and business activities is subject to domestic tax rates, though double taxation treaties may provide relief. Dual citizenship in South Korea is restricted or conditional. Limited; allowed for overseas Koreans and those who acquired at birth Prospective applicants should verify current requirements, as this affects long-term residency and tax planning strategies.