Korean Job Discussion Forums

Drew345 · Joined: 24 May 2005

I have searched the immigration.go.kr and
immigration.go.kr websites and can find no information on the D-8 Investment visa.
I found on some old Dave’s forum pages that the minimum investment for such a visa is 100,000,000 won
I found some reading that said that to get the D-8 visa a person had to “invest in a corporation” and sole proprietorships and partnerships were not allowed. So, this is confusing. Does this mean that you are not allowed to open your own business to get the D-8 visa, you have to invest into an existing corporation? I was thinking about opening a guesthouse and was wondering if the D-8 visa could be granted for running a guesthouse. If all that is required for the visa is to invest 100,000,000 into a corporation, then could I just go buy 100,000,000 of stock in Samsung or LG and qualify for the visa?
Is this a visa that if held for 5 years could be changed into a F-2 Residency?
Thanks for any information.

PRagic · Joined: 24 Feb 2006

Call immigration and ask, or contact a consulate where you are and ask. People I know who have gotten the investor visa had to show proof of funds outside of Korea (then 50K but evidently upped to 100K), and then xfer those funds into Korea while opening up a business. The business had to have a dedicated office or be a legal entity (e.g. restaurant or bar) and be registered.

Once here, you could go through the steps necessary to obtain a Korea 'green card' (permanent residency). That involves a point system where you level of education, years in Korea, job, completion of the culture program, and language proficiency are taken into consideration. Think they've made it easier if you've attained a grad degree here. There is a big thread on getting this visa that you could check out. Short way around it? Marry a Korean!

Drew345 · Joined: 24 May 2005

Thanks, I am in Korea now. That is interesting about having to transfer the money in, I have most of it in Korea now at the moment so I hope all 100 k dollars doesn't have to be transferred in (as new money).
I am thinking about eventually getting the "Korean Green Card" through the 5 year (or is it 3?) on the same visa method. I think I could never qualify on the point system since I am 51. They really penalize applicants on age...

Thanks!

PRagic · Joined: 24 Feb 2006

I blissfully plead ignorance. I've had residency so long I can't even remember the last time I had to suffer immigration.

raewon · Joined: 16 Jun 2009

I suggest you make your inquiries here:

http://www.investkorea.org/ikwork/iko/eng/main/index.jsp

There should be someone there who could help you. I wouldn't bother posting your questions online. Call and ask for someone who can speak English. If you are confident with their English ability, ask if you can make an appointment to visit them with your concerns.

You mention that you have most of your money in Korea. If it was the other way around, you might be able to send money outside the country and then back in again. Obviously you would lose money in doing this. NO idea if this would be allowed with a "large" sum. It might be something you could ask about, but probably not something you'd want to advertise doing.

Before transferring money into Korea, make sure you find out about the specific requirements/regulations and then check, check again... and then confirm them yet again. You will have to make it clear that the money coming into Korea is for the purpose of doing business. (I've heard that you have to make sure this is specified by the institution doing the transaction, and there may also be certain requirements on the receiving end as well. I'm not sure...)

Drew345 · Joined: 24 May 2005

I found that the Seoul Global Center Gangnam COEX branch has people to answer questions in English.
I found that a person cannot just buy Samsung stock as an investment to get the D-8 visa. A foreigner must end up with at least 10% of the company that they invest in, and then the company must register as a foreign partnership (or something like that). So just buying stock is out of the question. A foreigner can't just start a private company for the visa either, it has to be a cooperation. They are putting up roadblocks to some people taking shortcuts before. The "easy" way is to buy 500,000,000 worth of property in some specific areas for development, such as Jeju, and parts of Busan (other places as well). This is what the rich Chinese are primarily doing for visas.

nicwr2002 · Joined: 17 Aug 2011

I just read an article that you need 300,000,000 won to do the investment visa now.

http://www.koreaherald.com/view.php?ud=20150420001020