| [1] Export on a lease method |
(1) Definition
- A export that transfer the right of ownership before or after a lease period or export goods according to a lease (Including the lease in use)contract and re-import the goods within ~ months after lease contract period is matured. |
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<1> Conclude a lease contract
<2> Contract approval (Authorization) |
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1. Organization issuing permit (Authorization)--Basis on the each countries' related laws of regulations.
2. Required documents when requesting leasing contract authorization |
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1. Leasing contract authorization(application) form
2. Leasing contract
3. Proof of documents for leasing goods
4. Statement for leasing, Documents to proof |
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<3> Export recommendation
<4> Export license |
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| - Condition for export license |
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1. Export the leasing goods within ~ months after license issue date
2. Re-import the leasing goods within ~ months after leasing contract period is matured.
3. Re-import terms are waived when transferring the right of ownership. |
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<5> Customs clearance and shipping
<6> Request the customs clearance for re-import or change of the right of ownership (Request for re-import terms waiver) |
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| - Waiver terms for re-import according to the request of changes of the right of ownership. |
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1. The reason for the right of ownership transfer has to be resonable.
2. Either collected amount should be proper to the export goods appraised price or the collection should be definite. (Exclude, unless the competent minister recommends that the reason for the right of ownership transferring is unavoidable)
3. The goods that are restricted for export at the initial license issuing period from import and export public notice and if obtained a conditional permit from related organizations, changing should be granted before the right of ownership.
4. The payment for the goods before the right of ownership should be collected through the initial licensed foreign exchange bank or make payment. |
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| - Required documents for the customs clearance when re-import |
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1. import declaration form
2. Export/import license
3. export permit
4. Other required documents for the customs clearance. |
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| - Required documents when requesting the changes of the right of ownership |
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1. Application form to request change of export/import license details
2. Documents providing a fulfillment of re-import waiver terms. |
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| (3) Receiving leasing fee |
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1. As a means of outside disbursement indicated as nominated credit, the total amount can be received through a foreign exchange bank (For unavoidable case, the expenses that occurred directly due to the lease of subject-matter can be deducted).
2. Lease fees received are subject to under ex post facto management of the said granted organization. |
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[2] Import using leasing method |
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<1> A transaction which after using the imported goods in accordance with lease contract (Including lease currently in use), either re-export after the contract period is matured or a lessee acquire the right of ownership before/after the contract maturity period.
<2> This method is usually used by a small scale business or a company that inducts foreign capital to import additional manufacturing equipments and the transaction is also used for export term that a lessee uses the leased equipments to export the goods to a lessor. |
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| <1> Concluding a leasing contract |
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| - A contract should be notarized by a consulate or by the notarial act
organization and the details of contract are as following. |
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1. Country of origin, country shipping, country to arrival
2. Standard, quantity, unit price and amount
3. Processing details after easing period matures
4. Details for leasing fee
5. Payment method |
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| <2> Grant a contract (Authorization) |
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- A contract to lease goods on the consumption of the right of ownership
transferring rather than real estate should follow each countries' laws of regulations.
- Terms for permit (Authorization) |
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1. When a lease contract is expired, the leased goods shouldn't elapse the number of years prescribed in the legal contents and the goods should contribute to international
2. Considering depreciation, interest of the leased goods, pay appropriate
leasing fee.
3. Pre-paying deposit for lease is not for acknowledgement.
4. Insurance for leased goods should be cover by a local insurance company. |
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| - Required documents for vessel leasing contract authorization |
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1. Approval application for a lease contract
2. A vessel lease contract
3. Letter of recommendation of the related organization |
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| - Required documents for a lease authorization that has no precondition of the right of ownership |
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1. Application for a lease contract authorization
2. Duplicate lease contract
3. An authorization from the competent ministry (If required)
4. A business plan for the lease |
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<3> Import recommendation
<4> Import license |
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| - Requisites for import license |
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1. The reason for lease has to be resonable - Goods should be allowable for import.
2. Lease amount and payment method should be appropriate against the foreign exchange control law.
3. Import should be made within ~month(s) from the approval date and re-export should be made within ~ month(s) after the period maturity date. |
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<5> Customs clearance
<6> Pay leasing fee
<7> Customers clearance of the re-exporting or transferring the right of ownership |
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| - Transferring the right of ownership |
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1. Re-export term can be waived for the person requesting the right of ownership and in this case, an amendment request should be made for the export/import license.
2. requisite |
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- A proprietary of the right of ownership transferring - Appropriate price for the goods (In compare to the appraisal price)
- Amendment authorization for the right of ownership transferring etc.
- Payment should be made through a foreign exchange bank |
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| - Required documents for re-export customs clearance |
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1. Export declaration form
2. Export/import license
3. Duplicate export permit
4. Other required documents for the customs clearance. |
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Trade Helper 
Ex-Import Procedure(to Way of Payment)
Export/Import procedure according to the leasing method
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