Korean Republic - Residence

Article 4. Fiscal domicile

Tax residence

1. For the purposes of this Convention, the term "resident of one of the States" means any person who, under the law of that State, is liable to taxation therein by reason of his domicile, residence, place of head or main office, place of management or any other criterion of a similar nature, but the term does not include any person who is liable to tax in that State for the sole reason that he derives income from sources therein. The terms "resident of the other State", "resident of the Netherlands" and "resident of Korea" shall be construed accordingly.

Tie breaker – dual residence individuals (lid 2)

2. Where by reason of the provisions of paragraph 1 an individual is a resident of both States, then this case shall be determined in accordance with the following rules:

a  he shall be deemed to be a resident of the State in which he has a permanent home available to him. If he has a permanent home available to him in both States, he shall be deemed to be a resident of the State with which his personal and economic relations are closer (centre of vital interests); 

b  if the State in which he has his centre of vital interests cannot be determined, or if he has not a permanent home available to him in either State, he shall be deemed to be a resident of the State in which he has an habitual abode; 

c  if he has an habitual abode in both States or in neither of them, he shall be deemed to be a resident of the State of which he is a national; 

d  if he is a national of both States or of neither of them, the competent authorities of the States shall settle the question by mutual agreement. 

Tie breaker – dual residence corporations (lid 3)

3. Where by reason of the provisions of paragraph 1 a person other than an individual is a resident of both States, then it shall be deemed to be a resident of the State in which it is managed and controlled.