2022-12-22BY Immikorea

D8 VISA

The D8 visa is for foreigners who are issued to do business in Korea.

  1. D8-1 visa : A form in which an individual directly creates and operates a corporation in Korea 
  2. D8 dispatch visa : A form in which an overseas corporation creates a foreign-invested corporation in Korea and dispatches executives and experts 
  3. D-8-3 visa : A form in which a foreigner invests in a Korean corporation and operates the business as a co-representative 
  4. In addition, there is a D8-2 visa that venture entrepreneurs with intellectual property rights can apply for, and a D8-4 visa for technology start-up under the Small and Medium Business Startup Support Act.

D8 visa basic requirements

  1. Establishment of a foreign-invested corporation by an individual remitting 100 million won or more from overseas to Korea
  2. Establishment of a foreign-invested corporation by remittance of over 100 million won by an overseas corporation to Korea

D8 visa considerations

  1. Investments must be remitted from abroad.
  2. D8 visa can be applied for after completing all procedures such as remittance, incorporation, office and business establishment installation, business registration, and licensing. Therefore, if the visa is denied, you may suffer losses.
  3. The higher the investment amount, the easier the visa approval and the shorter the review period.
  4. In cases where the amount of investment is small and the sincerity of the business is ambiguous, immigration officials may visit the business site and investigate.
  5. It takes at least 2 months to prepare notarized documents, account opening, company establishment, licensing, business registration, and visa screening.
  6. Even if permission is denied, you can reapply by supplementing the documents, but approval may be difficult.

It costs a lot of money to prepare for the D8 visa, but if the procedure is neglected, not only will the visa be disapproved, but the cost so far will be wasted and you will have to prepare again from scratch.

  1. recipient’s name
    • – In the case of the D8 visa, the recipient must transfer the money in the name of the recipient, wife, and minor child. Remittances made in the names of parents or siblings are not recognized as investment funds. This is a difficult part because each country has a limit on overseas remittances per year. (In the case of investors with more than 300 million won, remittance can be recognized in the name of parents and spouses parents)
  2. source of money
    • – Some people invest money by receiving money from their parents or borrowing money from acquaintances. In this case, the source of the funds formed through bank account records and bestowal records will be reviewed very carefully. Failure to prove legal funds will result in disapproval, so be sure to consult with an expert before making a decision.
  3. business authenticity
    • – A lot of supporting materials must be prepared for the applicant’s related business experience, completeness of business site installation, business plan, etc.

Although the documents and procedures to be prepared for the D8 visa are complicated, it is recommended that you work with an experienced expert from the beginning, as you will suffer great losses if visa approval fails.

D8 Visa The investment visa starts with a foreign investment declaration and opening an account with a domestic bank in Korea. All tasks can be performed by a visa agency through a power of attorney.

Foreign investment declaration and bank account opening (bank)
⇒ Remittance of foreign investment funds
⇒ Registration of incorporation (registry office)
⇒ Business registration (tax office)
⇒ Registered as a foreign-invested company (bank)
⇒ D8 visa application (Immigration Office)
⇒ Approval of D-8 visa
⇒ Issuance of alien registration card
d8비자 외국인투자기업등록증명서

D-8-1 Visa Application Documents

  1. Application form, passport, photo
  2. Copy of Foreign Investment Report Certificate
  3. Foreign-invested company registration certificate
  4. Business Registration
  5. Certificate of all corporate registration details
  6. Original shareholder change statement
  7. Documents proving the introduction of investment funds
  8. Dispatch order or certificate of employment in case of residency

Additional documents to be submitted if the investment is less than 300 million won

  1. Documents proving the use of capital (purchase receipts, office interior expenses, statements of deposits and withdrawals in domestic bank accounts, etc.)
  2. Documents proving the existence of the workplace (office lease agreement, business view, office space, signage photo, etc.)
  3. Documents related to business experience in the relevant industry or field (if necessary)
  1. Integrated application
  2. Tuberculosis Checkup Table (if necessary)
  3. Passport and alien registration card
  4. A copy of business registration certificate
  5. Certificate of all corporate registration details within 3 months
  6. Sales performance (optional)
    • – Proof of payment details (including corporate tax and wage and salary income tax)
    • – Export declaration certificate (export-import license)
    • – VAT tax base certification
    • – Documents proving export payment collection (bank account deposit and withdrawal statements)
    • – Profit and loss statement in the settlement of accounts
  7. Personal tax payment certificate or earned income withholding tax receipt
  8. Occupational Annual Income Amount Declaration
  9. A copy of documents proving the place of stay
  10. Copy of office lease agreement
  11. Copy of corporate bankbook and corporate bankbook transaction details
  12. Other required documents by industry
  1. Establishment of a foreign-invested corporation by an overseas corporation investing more than KRW 100 million in Korea
    1. Essential personnel such as CEO, executives, and experts can be dispatched.
    2. One person can be dispatched per KRW 100 million invested.
    3. 1 additional person can be dispatched when 3 Korean employees are retained for 6 months or more

D8 Visa Big investors can apply for a residence visa (F2 visa) or permanent residency (F5 visa).

  1. Investors who have invested more than 500,000 USD and employed 5 or more Koreans as full-time workers for 6 months or more can apply for permanent residency (F5 visa).
  2. Investors who have invested more than USD 500,000 and executives and employees of foreign corporations can apply for a residence visa (F-2 visa) after 3 years. (if conditions are met)
  3. If you invest more than 300,000 USD and hire 2 or more Koreans, you can apply for a residence visa (F-2 visa). (if conditions are met)

D8 visa inquiry

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