Planning the move · Moving to Australia

Selling a Korean Apartment and Moving the Money to Australia — Citizens vs PRs

By Jai Kim · 27 June 2026 · 4 min read

Selling a Korean apartment to bring the money to Australia is something many Korean-Australians do at least once.

But what actually stalls it is, more often than not, not the tax. The status that changed when your nationality changed, the title documents, the power of attorney, the apostille, the remittance evidence — these are the bigger problem.

In particular, Australian citizens and permanent residents hold different legal status in Korea, so the documents they need differ too.

The bottom line

A PR and a citizen have different status in Korea
Most people sell by proxy without flying back to Korea
In recent practice, apostille has effectively become the standard over consular legalization
Remitting the sale proceeds itself isn’t taxable in Australia
But if you’re an Australian resident, the capital gain must be reported in Australia
What stops deals more often than tax is paperwork

1. First — are you a PR or a citizen?

Australian PR

Keeps Korean nationality + holds Australian PR → in Korea, an overseas national (재외국민)

Australian citizen

Lost Korean nationality + took Australian citizenship → in Korea, a foreign national of Korean origin (외국국적동포)

This difference changes both the sale process and the remittance paperwork.

2. The PR (overseas national) process

Most sell by proxy — a family member or a 법무사 (judicial scrivener) — without entering Korea. Typical documents:

Overseas-national registration certificate (재외국민등록부등본)
Power of attorney
Seal certificate (인감증명서) or certificate of personal signature (본인서명사실확인서)
Passport copy
Consular legalization or apostille
The proxy’s identification

→ A Korean resident registration number is often still active, so the process is relatively simple.

3. The citizen (foreign national) process

A citizen is treated as a foreigner in Korea. Typical documents:

Australian passport
Property registration number (부동산등기용 등록번호)
Domestic residence report certificate (if you have one)
Power of attorney
Signature verification
Notarization and apostille

→ Increasingly, people proceed by obtaining a property registration number even without a domestic residence card.

4. In practice — apostille over consular legalization

Legally, both consular legalization and apostille work. But in recent 법무사 practice, the common request is:

Australian notarization → DFAT apostille → submit to the Korean registry

because the registry and the scrivener handle it most readily. So confirm with your scrivener first before preparing documents.

5. What if you lost your seal (인감)?

It happens more often than you’d think. Fortunately, it doesn’t make the sale impossible. Options:

Re-register the seal
Certificate of personal signature
Signature verification
Notarization and apostille

→ Overseas residents increasingly proceed by signature rather than seal.

6. Documents for the capital gains tax filing

Typical documents for a Korean CGT filing:

Sale contract / acquisition contract
Certified copy of the property register (등기사항전부증명서)
Acquisition tax receipt · agent’s commission · scrivener’s fee
Evidence of capital expenditure
Identity documents · power of attorney · tax-related documents

Evidence of allowable costs matters a lot — window replacement, ducted air-conditioning, structural changes, and renovation can reduce the gain and the tax. On an apartment held 20–30 years, receipts can swing the tax by tens of millions of won.

7. When you bring the funds to Australia

After paying the tax, remitting the proceeds may require:

Sale contract
Proof of CGT payment
A real-estate sale-proceeds confirmation (부동산 매각자금 확인서)
Foreign-exchange bank documents
Identity documents

→ The larger the sum, talk to your bank in advance.

8. Do you pay tax in Australia?

A common misunderstanding.

Bringing the proceeds over — not taxable in Australia (you’re moving an asset you already held).

But the capital gain is different. If you’re an Australian tax resident:

the Korean apartment’s capital gain must be reported in Australia
Korean tax paid is credited via the Foreign Income Tax Offset (FITO)
held 12+ months, a CGT 50% discount may apply

That said, paying Korean tax doesn’t guarantee no extra Australian tax — the outcome depends on FX, the cost-base calculation, and the holding period.

Order matters

① Confirm nationality and residency status → ② prepare documents → ③ calculate CGT → ④ sell and pay tax → ⑤ remit overseas → ⑥ report Australian tax

Frequently asked questions

Can an Australian citizen sell their Korean apartment?

Yes — through the foreign-national process. You sell as an overseas-Korean foreign national using your Australian passport, a property registration number, a power of attorney, and notarization plus apostille.

Do I need a Korean residence card (거소증)?

Not necessarily. Many people proceed with a property registration number even without a domestic residence card. But without one, local notarization plus apostille is effectively required.

I lost my registered seal (인감) — is that a problem?

Usually solvable. You can re-register the seal, use a certificate of personal signature, or go the notarization-and-apostille route. A missing seal doesn't block the sale.

If I paid tax in Korea, do I still report in Australia?

Yes. If you're an Australian tax resident, the Korean apartment's capital gain must be reported in Australia too. Korean tax paid is credited via the Foreign Income Tax Offset, but the reporting itself is mandatory.