We often advise that one of the more common visas to apply for is the D-8 investment visa. It's also possible to open a business on some of the "F long-term stay" visas, however, most will not qualify without significant time in Korea or family in Korea.
Thus, for most people who are new to the peninsula, the D-8 investment visa is usually the way to go. Here is a basic list of requirements for an applicant investing not less than KRW 100,000,000:
- Application for a visa (or Confirmation letter of visa issuance).
- Passport (or a photocopy of a passport in the case of applications for a Confirmation letter of visa issuance).
- Photocopy of a certificate of FDI company registration.
- Photocopy of a business registration certificate or incorporation register, if applicable.
- Certificate of declaration of a foreign currency (issued by the Customs Office).
- Certificate of remittance issued by the relevant bank (Minimum of KRW 100,000,000).
- Photocopy of foreign currency purchase certificate.
- Photocopy of office lease contract.
- Photocopy of bank book.
- Business Plan
Sean Hayes may be contacted at: SeanHayes@ipglegal.com.
Sean Hayes is co-chair of the Korea Practice Team and Entertainment, Media and New Tech Law Team at IPG Legal. He is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty.
He assists clients in their contentious, non-contentious and business developments needs in Korea and China.