2022-12-24BY Immikorea

In order to apply for F-5-5 permanent residency, the following conditions must be fit.

The F-5-5 permanent residency is for those who have invested 500,000 USD or more in Korea to establish a foreign-invested corporation and have employed 5 or more Koreans as regular workers for 6 months or more.

In order to apply for F-5-5 large investor permanent residency, you must first obtain a D-8 investor visa to operate a business, and then change to permanent residency in accordance with the requirements below.

Requirements for applying for permanent residency after investment

  1. sole investor
    1. The applicant must be a contracting party that directly employs 5 or more Koreans as full-time workers for 6 months or more.
    2. If the number of employed citizens overlaps with the number of employed persons of other applicants for permanent residency within 6 months prior to the date of application, they are excluded from the number of persons.
  2. co-investor
    1. In accordance with the “Foreign Investment Promotion Act” per investor, invest at least USD 500,000 and employ at least 5 nationals, but meet the above requirements for a single investor.
    2. When calculating the number of employees, each investor must be a different citizen.

F-5-5 Proceedings

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
⇒ Satisfy F-5-5 permanent residency conditions
⇒ Apply for permanent residency

Main documents to be submitted when applying for F-5-5 permanent residence

  1. Foreign-invested company registration certificate, corporate registration certificate, business registration certificate
  2. Documents proving permanent employment of Korean nationals
    1. List of subscribers at the 4 major insurance business establishments, income certificate of employed Koreans
    2. Employment contract, full-time employment confirmation, etc.

Special Benefits for F-5-5 Permanent Resident Applicants

  1. Overseas Criminal Record Exemption
  2. Exemption from examination of import requirements
  3. Exemption from the Korean language proficiency requirement

Investors with over $500,000, foreign corporations

  1. Those who have stayed for more than 3 years with a business investment D8 visa
  2. Executives and employees dispatched to a foreign-invested company who have stayed continuously for 3 years or more
  3. Required documents: Investment company registration certificate, dispatch order, certificate of employment, certificate of income amount (3 years)

Investors with over $300,000

  1. Those who employ two or more Koreans
  2. Required documents: foreign investment report, investment company registration certificate, employee employment contract, income amount certificate