- D8 visa is investment visa which the target is a Korean corporation, means establishing a corporate company in Korea.
- The investment amount is more than 100 million won, and the company owns more than 10/100 of the total number of shares with voting rights of the invested corporation or owns shares of the corporation, etc., and concludes an executive dispatch and appointment contract
- Investor funds must be in the name of the investor, but spouses and minor children are exceptionally allowed to transfer funds on behalf of the investor (however, for investors with an investment of KRW 300 million or more, parents and spouse’s parents can be allowed to transfer funds on behalf of the investor)
- Confirm that the funding source is the investor’s own funds
The process and required documents may vary depending on whether the investor is applying while staying in Korea or applying through a power of attorney while staying abroad.
Procedure and required documentation | Timeframe |
Preparing apostille documents in advance
| |
Foreign Investment Declaration and Bank Account Opening (Foreign Exchange Bank)
| 1 day |
Transferring investments
| 2 days |
Legal entity registration
| 4 days |
Business licenses (for your industry) | |
Get a business license
| 2 days |
Issuing a Foreign Investment Company Registration Certificate
| 1 day |
D-8-1 Visa Applications and Authorizations
| 1 month |
Issuance of alien registration card
| 2 weeks |
“Proof of source of funds” is a key point for visa approval.
Obtaining a D8 visa can be costly and time-consuming.
While it’s important to set up a legal entity according to the regulations, all your efforts will be for naught if you can’t prove that the money you invested came from your own pocket. The source of your funds is usually demonstrated by the following documents
- Overseas corporations: corporate bank account details, accounting reports, sales reports, etc.
- Personal: bank account details, employment certificate, savings statement, etc.
- Gifts: Gift tax payment receipt
- Selling real estate: purchase and sale agreement, bank statements
- Carrying cash: bank account details, currency exchange certificate, foreign exchange purchase certificate, customs declaration certificate, etc.
The above is basic and may require supplemental documentation depending on your individual circumstances.
The D8 visa is initially granted for a period of stay of 1 to 5 years, depending on the size of the investment. Unless it is a large investment, one year is usually granted.
Each visa has its own requirements for extending your stay. If you meet the extension requirements, you can extend your stay and do business without difficulty, and you can change your visa status if you meet the requirements of another visa.
Since the D8 visa is for doing business, the most important requirement for extending the period of stay is “business performance”. Because it is not easy to do business overseas, you can get a one-time extension even if you have no business record. However, if you don’t continue to make a profit, you will need to take steps to show your business commitment and convince the immigration office to extend your stay.
If the investor is an overseas corporation, it can send employees from its headquarters to work on a D8 visa. In addition, a subsidiary in another country established by the headquarters can receive a D8 assignment visa to Korea.
Dispatchable forms
- Headquarters A establishes investment corporation B in Korea and dispatches employees from headquarters (A->B)
- An employee of investment corporation C established in another country by headquarters A can be assigned to investment corporation B in Korea (C->B)
Who can be dispatched
- Permits are granted based on the amount of investment. Roughly one per 100 million, but not unconditionally.
- If you’re employing 3 Koreans for more than 6 months, you can add 1 more.
Dispatcher requirements
- Executives, senior managers, and essential professionals only
- Submit supporting documentation for essential personnel
D8 visa holders can invite their spouse and minor children to live with them on an F3 visa. You can invite them with your initial visa application or at a later date.
Required documents
- Your spouse’s marriage certificate
- Your child’s birth certificate
You can change from a D-8-1 visa to a more stable resident visa. The D8 visa always requires you to have a business to extend your stay, so if you can meet the requirements, you may want to consider changing to a more stable residence visa.
F-2-7 Scaled Resident Visa (Learn)
You only need to meet the 80 total score requirement to apply, so if you have a high income, you can apply.
F-2-99 Long Term Resident (Learn)
Investors of $100 million or more who have been in Korea for at least five consecutive years
F-2-5 Highly Invested Extended-Stay Aliens
- Foreigners who have invested $500,000 or more and have been in D8 status for at least three consecutive years.
- An employee of a foreign corporation that has invested $500,000 or more and has been in the country continuously for more than three years.
- Those who have invested $300,000 or more and employ 2 or more Koreans
F6 Marriage Visa
You can change to an F6 marriage-based immigrant visa by marrying a Korean.
F5 Permanent Residency (Learn)
There are many different ways to apply for permanent residency, depending on your education, income, length of stay, and more.
High net worth investors of $500,000 or more can apply for permanent residency if they meet the requirements. They are generally exempt from the foreign criminal background check, income requirement, and Korean language proficiency requirement.
- Invest $500,000 to get a D8 visa
- Hire 5 or more Koreans and keep them for 6 months to apply for permanent residency
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