Form descriptions – KGBs and MSBs (Securities deposited with KSD)
Information is provided here about the forms and their use in relation to the procedure for relief at source of withholding tax on income from South Korea securities, as follows:
- One-Time Certificate for KGBs and MSBs
- Power of Attorney (POA) to Clearstream1
- Certificate of Residence (CoR).
Certificate of Residence (COR)
A certificate proving the residency of the client, issued by the client's local tax authorities.
How many are provided? | One per client. |
Who completes it? | Client's local tax authorities. |
How often is it provided? | Valid until revoked. Unless there is a change in the details. |
When is it provided? | Before the first investment. |
Copy or original? | Original required. |
One-Time Certificate for KGBs and MSBs
The one-time certificate for KGBs and MSBs must be completed and signed by the Clearstream client.
How many are provided? | One per Clearstream account. |
Who completes it? | Client. |
How often is it provided? | Valid until revoked (unless there is a change in the client’s details). |
When is it provided? | Before the first investment. |
Copy or original? | Original required. |
Power of Attorney (POA) to Clearstream
The Power of Attorney is executed by the client granting Clearstream and the agent KSD the right to act on their behalf.
How many are provided? | One per Clearstream account. |
Who completes it? | Client. |
How often is it provided? | Valid until revoked. Unless there is a change in the client’s details. |
When is it provided? | Before the first investment. |
Copy or original? | Original required. |
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1. Clearstream refers collectively to Clearstream Banking S.A. and Clearstream Europe AG (for Clearstream Europe AG clients using Creation accounts).