2020. 9. 28.
There are many types of visas for a foreigner to stay in Korea, but if you want to invest in a Korean enterprise or set up a small business in Korea, the D-8 visa may be the right option for you.
A business investment (D-8) visa is issued to indispensable professional specialists engaged in the management, business administration, production, technology, or research of a foreign-invested company, as prescribed by the Foreign Investment Promotion Act. Foreigners hired in Korea, general administrators or engineers and service providers who can be replaced by domestic human resources are not considered indispensable professional specialists.
There are four (4) subcategories under D-8 visa.
Therefore, if you want to establish your own company in Korea with the investment of KRW 100 million or more, you may be qualified under D-8-1 category. It should be noted that additional documents (see below) may be required for private investors whose investment is less than KRW 300 million.
- Documents demonstrating the startup capitals (receipt for purchased goods, office interior expenses, domestic bank account deposit / withdrawal statement, etc.)
- Documents demonstrating existence of the place of business (office lease agreement, photographs of the front view of the office, inside of the office, signage, etc.)
- Documents proving the applicant’s business experience in the relevant industry or field (if necessary)
You may also qualify for “Big Investor” permanent residency visa (F-5-5) if you have invested more than USD 500,000 at the time of application and have employed five (5) or more Korean citizens as a full-time employee.
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