In order to apply for F-5-5 permanent residency, the following conditions must be met.
F-5-5 Permanent Residency is for large-scale investors who have invested more than $500,000. .
F-5-5 Major Investor In order to apply for permanent residence, you must first obtain a D-8 investment visa to operate a business, and then change to permanent residence in accordance with the following requirements.
Requirements for applying for permanent residency after investment
- sole investor
- The applicant must be a party to an employment contract who directly employs 5 or more citizens as regular workers for at least 6 months. (*Regular employee refers to a form of full-time commercial employment that is directly employed by the employer’s sole investor)
- If a national who has been hired once is applied to the number of employees of another applicant for permanent resident status within 6 months prior to the date of application, the national is excluded from the number of direct employment.
- In accordance with the “Foreign Investment Promotion Act” per investor, invest US$500,000 or more and employ 5 or more citizens, but meet the above conditions for a sole investor.
|Foreign Investment Report|
|⇒ Remittance of investment funds|
|⇒ Company establishment and registration|
|⇒ Business registration and incorporation notification|
|⇒ Transfer of paid-in capital to corporate account|
|⇒ Foreign-invested company registration|
|⇒ Issuance of D-8 visa|
|⇒ Business operation and permanent residency requirements|
|⇒ Issuance of permanent residence card|
Main documents to be submitted when applying for F-5-5 permanent residence
- Foreign-invested company registration certificate, corporate registration certificate, business registration certificate
- Documents proving permanent employment of Korean nationals
- List of subscribers at the 4 major insurance business establishments, income certificate of employed Koreans
- Employment contract, full-time employment confirmation, etc.
Special Benefits for F-5-5 Permanent Resident Applicants
- Overseas Criminal Record Exemption
- Exemption from examination of import requirements
- Exemption from the Korean language proficiency requirement