South Korea Investor Visa Application Process
South Korea Investor Visa Application Process
South Korea appeals to many investors as the 4th largest country in Asia with its growing economy and gross domestic product. Foreign investors prefer South Korea because of the country's rapid economic development, expertise in information and communication technologies, and stable economy. South Korea aims to be a preferred country in the investment market with the tax breaks, grants, and Foreign Investment Promotion Law implemented by its government for investors. The Korean government enacted the Foreign Investment Promotion Law to support and facilitate foreign investors; within the scope of this law, it provides tax support, cash grants, and industrial support to foreign investors.
Who is Eligible for a Korean Investor Visa?
Persons who can obtain a Korean investor visa are listed below.
- Persons who manage and operate a Korean company with foreign investment in accordance with the Foreign Investment Promotion Law and professionals who work indispensably in the production and technology departments of a foreign-invested company
- Persons who have established a high-level technical business by owning an industrial or intellectual property right and have received approval for a commercial enterprise as the CEO of a company
- Persons working in, managing, or working in the technology or manufacturing sectors of a company managed by a Korean citizen in accordance with the Foreign Investment Promotion Law
- Individuals who have a bachelor's degree or higher and have established a company based on their intellectual property rights or advanced skills.
What are the Korean Investor D-8 Visa Types?
Korean investor visa types are listed below.
- Joint stock company investor (D-8-1) visa
- Business venture investor (D-8-2) visa
- Private entrepreneur investor (D-8-3) visa
- Technology and business establishment (D-8-4) visa
What is the South Korean Joint Stock Company Investor Visa (D-8-1)?
The South Korean joint-stock investor visa (D-8-1) is a visa that allows a 5-year stay in the country if an investment is made in a company in Korea, and is issued to individuals who plan to take part in the management, administration, production and technology of a Korean company with foreign investment. For the D-8 visa, the individual must invest 100 million South Korean won in a company located in Korea and own 10% or more of the voting shares of the company with this investment.
What is the Korean Business Enterprise Investor Visa (D-8-2)?
The Korean commercial enterprise investment visa (D-8-2) is a type of visa that provides a 2-year stay for individuals who have a high-tech business venture as an industrial or intellectual property right holder and who have received confirmation or preliminary confirmation of their enterprise idea in this field. Individuals who wish to obtain a Korean commercial enterprise investment visa must receive confirmation of whether the company is a venture company or a pre-venture company; the stay period for potential enterprises is 6 months.
What is the Korean Private Enterprise Investor Visa (D-8-3)?
The Korean private venture investor visa (D-8-3) is a type of visa that allows individuals who invest at least 10% of the company's capital in a company run by Korean citizens, with a minimum of 100 million South Korean won, for a period of 5 years. The basic conditions for the D-8-3 investment visa are to invest in a company run by a Korean citizen, to be listed as a founding partner in the trade registry, and to have 5 researchers with bachelor's and master's degrees in the company's R&D department, each with at least 3 years of research experience.
What is the South Korea Technology and Business Entrepreneurship Visa (D-8-4)?
The South Korean technology and business establishment visa (D-8-4) is a type of visa that allows individuals with a bachelor's degree or higher to stay for 2 years if they establish and operate a business in Korea with intellectual property rights or equivalent technical skills. The basic conditions for the D-8-4 visa are; having a bachelor's degree or higher in Korea or a foreign country, or being recommended by the head of a relevant central administrative agency, and being a founder of a company where business and company registrations are made.
Foreign investors who want to obtain a D-8-4 visa must receive at least 80 points out of 340 points.
How to Get a Korean Investor Visa?
The Korean investor visa can be obtained by foreign investors in person or through accredited agencies by applying to the South Korean consulates in Türkiye. In order to apply for a visa, visa documents must be prepared completely and correctly. After the visa documents are prepared according to the type of investor visa to be applied for, a visa appointment must be made, the documents prepared must be delivered on the appointment day and the visa fee must be paid.
How to Make an Appointment for South Korea Investment Visa?
For South Korea investment visa application appointment, you can get an appointment by sending an appointment request e-mail to trvisa@mofa.go.kr. The appointment request e-mail title should include “(Visa Appointment Request) visa type, duration of stay”. The e-mail should include the person’s name-surname, nationality, passport number, telephone, e-mail, and place of residence. In case of appointment cancellation or change, the person is expected to notify the appointment change by e-mail at least two days before the appointment date.
What are the Required Documents for the Korean Investor Visa?
The documents required for the Korean investor visa are listed below.
- Visa application form or approval letter for visa application
- Passport
- Company registration certificate received within the last 3 months
- Photocopy of commercial registry record
- A photocopy of the registry record showing foreign investment
- Original document showing the change in shareholders
- Document showing the entry of investment
- Document confirming qualification as an indispensable professional expert
- Tax payment document
- Document showing temporary residence
- Document showing capital expenditures
- Document showing the existence of a workplace
- Document showing work experience in the relevant sector
- Deposit records of the company's bank account
How Much Is the Korean Start-Up Investor Visa Application Fee?
The Korean start-up investor visa application fee is $60. The visa application fee must be paid in cash in dollars to the South Korean Consulate visa unit during the visa appointment, and it is not possible to pay the fee by credit card.
South Korea start-up visa costs for 2022 are an average of 125 dollars, including visa fee, travel health insurance, reservation procedures, petition writing if necessary, sworn translation and consultancy fees.
How Many Days Does It Take to Get a South Korean D-8 Visa?
The South Korea D-8 visa is issued in an average of 14 business days.
How to Track South Korea Investor Startup Visa Application?
South Korea investor start-up visa application tracking is done online at https://www.visa.go.kr/openPage.do?MENU_ID=10301. On the visa application tracking page, first the visa application type must be selected and then one of the passport, application and receipt numbers and name and date of birth information must be entered.
The South Korea startup visa tracking and query screen shot is given below.
How Long Does It Take to Grant a South Korea Startup Visa?
The duration of the South Korea start-up visa varies depending on the visa type.
Korean investor visa types and durations are given in the table below.
| Visa Type | Maximum Stay |
|---|---|
| Joint stock company investor (D-8-1) visa | 5 years |
| Business venture investor (D-8-2) visa | 2 years (6 months for possible intervention) |
| Private venture investor (D-8-3) visa | 5 years |
| Technology and business establishment (D-8-4) visa | 2 years |
Frequently Asked Questions
The questions most frequently asked to our center about the South Korea investor visa and the answers of our consultants are given below.
Can I Invest in Korea with a Visa Other Than an Investor Visa?
In addition to the investor visa, foreign nationals who meet certain conditions can invest in Korea with the G-1 visa.
The Korean G-1 visa is granted to individuals who own a social facility in the Jeju area, their spouses or minor children, in accordance with Jeju regulations. According to the South Korean G1 visa requirements, an investment of $200,000 or more is required.
What Government Programs Support Foreign Enterprises in Korea?
Government programs that support foreign enterprises in Korea are listed below.
- OASIS Startup Visa Program
- K-Startup Grand Challenge
- Global Accelerator Program for Startups (GAPS)
- Tech Incubator Program for Startups
- Born2global Startup Program
- Seoul Global Center
What is the OASIS Start-Up Visa Program?
The OASIS Start-up visa program has been a program that includes a visa score system for people who want to establish a technology-based business in Korea since 2015. Foreign investor candidates are given points by completing the compulsory and elective courses given during the program, and with these points, foreign investors can apply for the D-8-4 visa. Applicants must have a bachelor's degree or higher and receive a score of 80 or higher.
The OASIS program provides both start-up support and a start-up visa (D-8-4) to foreigners who decide to start a business in Korea based on outstanding ideas and technology. In order to establish a company in South Korea with the OASIS Program , individuals must complete the program with a valid score after taking certain courses.
Can Family Members of Foreign Investors Come to Korea?
Family members of foreign investors can come to Korea with a long-term family visit visa suitable for their travel purpose.
Spouses, children and parents of people with investor visas who are in Korea as entrepreneurs or investors can come to Korea with a South Korean family visit visa .
Can I Get Korean Citizenship With an Investor Visa?
Korean citizenship can be obtained with an investor visa. Foreign investors are entitled to a residence permit for 5 years with a Korean investor visa.
People who have a residence permit in Korea can apply for citizenship and obtain South Korean citizenship if they learn the Korean language and speak it at a sufficient level .