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Visa for Apartment Owners?

 
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While Away



Joined: 03 Dec 2006
Location: Seoul

PostPosted: Sun Apr 08, 2007 11:25 pm    Post subject: Visa for Apartment Owners? Reply with quote

Hello long timers, apartment owners,
If I buy an apartment in Seoul, is there a visa that would allow me regular access to Korea, even during times I am not working?
I am American, so we get the very limitted 30 days if we arrive with no visa. I presently have a job, so have the one year visa. I want to buy an apartment (yes, I like this place, and have a little money). If I want to study, or even goof off for a year between jobs, is there a visa for 'investment' or 'home owner' or some such like that?
I heard that there is a 5 year visa for Americans (C-3?) allowing us to come in for 90 days at a time. That sounds nice, I will try to get one on my next trip to America this summer. But even that is a bit shaky for someone with an apartment here.
No, I don't think I'll be marrying here. Marriage visa is not really an option. Study visa is an option, but seems like a hastle if I just study at little Korean schools.
Thailand has what they call an 'Investment Visa' for people who buy a condo there, allowing entry with little hastle. I don't have one (or a condo there), but I have heard about that visa. Does Korea have any such visa for those with property here.
Thanks,
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bellum99



Joined: 23 Jan 2003
Location: don't need to know

PostPosted: Mon Apr 09, 2007 1:53 am    Post subject: Reply with quote

No.
There is no such thing for you. They have many kinds of visas but nothin that fits what you asked about. Basically...you need to have a justifiable reason to stay in Korea. Owning an apartment is not one such reason. Korean visas usually relate to the purpose of your staying in Korea. Teaching, business, married, etc.
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superacidjax



Joined: 17 Oct 2006
Location: Seoul

PostPosted: Sat Apr 14, 2007 8:17 pm    Post subject: Reply with quote

Yes. A multiple-entry business visa. Essentially, you should set up you apartment "ownership" as a corporate activity. By doing this, you've now provided a legitimate business reason.

For the C3 Visa, (Short term Business) You only need to provide,

"Document verifying that the purpose of his/her visit to Korea is on business."

Essentially, your ownership will be the required verification, even if you don't incorporate. You can make the visa multiple-entry if you want.. Short terms, usually are 90 days. If you want to stay longer (continuously) that's possible, but unless you are independently weathly, then the question would be why would you stay in Korea that long with no other purpose other than just simply looking at your apartment.

Anyway, a C3 visa would take care of your concern.

Good luck.
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OiGirl



Joined: 23 Jan 2003
Location: Hoke-y-gun

PostPosted: Sun Apr 15, 2007 4:31 am    Post subject: Reply with quote

I think you mean C-2. C-3 is a tourist visa.
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superacidjax



Joined: 17 Oct 2006
Location: Seoul

PostPosted: Sun Apr 15, 2007 5:56 am    Post subject: Reply with quote

Yup, C2, sorry about the confusion, I was in a rush..

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OiGirl



Joined: 23 Jan 2003
Location: Hoke-y-gun

PostPosted: Sun Apr 15, 2007 7:07 am    Post subject: Reply with quote

No problems, I was just wondering if I should have gotten more out of my C-3...
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While Away



Joined: 03 Dec 2006
Location: Seoul

PostPosted: Sun Apr 15, 2007 1:18 pm    Post subject: Reply with quote

Thanks all,
I was thinking about getting a C-3 tourist visa and that would be good for 5 years. I haven't tried yet, since I am working now.
I didn't know about the C-2, which I may be able to get with apartment ownership papers. Maybe just a matter of finding the right consulate.
3 months at a time in Korea is just right. I would be making trips to Thailand or America about every so often.
Yes, I would really like to retire here, have an apartment, study Korean, travel around, date.
Thanks
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Wangja



Joined: 17 May 2004
Location: Seoul, Yongsan

PostPosted: Sun Apr 15, 2007 2:21 pm    Post subject: Reply with quote

If you import more than 50 million KRW as "Foreign Direct Investment" a D8 - investor visa - might be th route to take.
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While Away



Joined: 03 Dec 2006
Location: Seoul

PostPosted: Sun Apr 15, 2007 2:50 pm    Post subject: Reply with quote

Wow, thanks again. I didn't know about the D-8 investor visa. Certainly any apartment is more than 200 million won. If the money is 'imported' for buying an apartment, does that money still count for the 50 million KRW required for a "Foreign Direct Investment"? Or does the investment have to be in stocks, bonds, business etc.
I will try to learn more about this D-8 visa. If anyone know more details, I appreciate the information.
Thanks Again,
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Wangja



Joined: 17 May 2004
Location: Seoul, Yongsan

PostPosted: Sun Apr 15, 2007 2:51 pm    Post subject: Reply with quote

While Away wrote:
Wow, thanks again. I didn't know about the D-8 investor visa. Certainly any apartment is more than 200 million won. If the money is 'imported' for buying an apartment, does that money still count for the 50 million KRW required for a "Foreign Direct Investment"? Or does the investment have to be in stocks, bonds, business etc.
I will try to learn more about this D-8 visa. If anyone know more details, I appreciate the information.
Thanks Again,


The thing will hinge on whether a single property real estate company fits the desired profile for foreign investment.

Be sure to follow to the letter the procedure for importing the cash as Foreign Investment.
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superacidjax



Joined: 17 Oct 2006
Location: Seoul

PostPosted: Sun Apr 15, 2007 7:15 pm    Post subject: Reply with quote

While Away wrote:
Wow, thanks again. I didn't know about the D-8 investor visa. Certainly any apartment is more than 200 million won. If the money is 'imported' for buying an apartment, does that money still count for the 50 million KRW required for a "Foreign Direct Investment"? Or does the investment have to be in stocks, bonds, business etc.
I will try to learn more about this D-8 visa. If anyone know more details, I appreciate the information.
Thanks Again,


Provided the 50 million comes from outside Korea.. it counts. It's all interpretable by the consulate. A Korean immigration attorney can frame the issue approprately for the purposes of the consular application.
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Drew345



Joined: 24 May 2005

PostPosted: Sun Apr 15, 2007 9:35 pm    Post subject: Reply with quote

I did more reading about the D-8 investor visa. It doesn't seem to apply to me, but it is probably all in the wording, as mentioned above.
The D-8 seems to apply more to the manager of an investment company with unique and indespensible skills (or something like that). But then again, the right immigration lawyer could probably word 'apartment owner' to sound just like the above.
The C-3, or even C-2 may be fine for my needs, as 3 months will always be enough for me at one time.
Interesting that the above post mentions 'Immigration Lawyer', because that is exactly the kind of person I may have to speak to. Pretty soon too, if I find the right apartment any time soon. How would I go about finding such a person. I don't think there is too much immigration into Korea (I am the odd one, I know).
Any clue how to find an immigration lawyer?
Thanks
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bellum99



Joined: 23 Jan 2003
Location: don't need to know

PostPosted: Mon Apr 16, 2007 12:03 am    Post subject: Reply with quote

superacidjax wrote:
Yes. A multiple-entry business visa. Essentially, you should set up you apartment "ownership" as a corporate activity. By doing this, you've now provided a legitimate business reason.

For the C3 Visa, (Short term Business) You only need to provide,

"Document verifying that the purpose of his/her visit to Korea is on business."

Essentially, your ownership will be the required verification, even if you don't incorporate. You can make the visa multiple-entry if you want.. Short terms, usually are 90 days. If you want to stay longer (continuously) that's possible, but unless you are independently weathly, then the question would be why would you stay in Korea that long with no other purpose other than just simply looking at your apartment.

Anyway, a C3 visa would take care of your concern.

Good luck.


This is essentially very difficult to do. To set up your apartment as a business would require different registration and tax. Simply owning the apartment and renting it to someone doesn't constitute a business enterprise. I think he will have trouble convincing immigration he has a justifiable reason to get the visa continously for a year or more. I wish you luck if you can do it...come back and say if it worked.
Wink
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