South Korea offers investor visas to foreigners investing in the country through bank deposit, real estate or risk based investment.

 

Permanent residence

• Immediately granted to foreign investors who invested US$ 5 million in Korea

• Granted to foreign investors after 3 years living with D8 visa with minimum US$ 500,000 investment

 

The  Immigrant Investor Scheme for Public Business (IISPB) grants Resident (F-2) status, which allows free economic activities, to foreigners making certain amount of investment in compliance with the standard set by the Minister of Justice, and allows changing the status to Permanent Resident (F-5) if the foreign investor maintains the investment for at least 5 years.

 

Resident (F-2) status, which allows free economic activities, is granted to a foreign investor, the spouse and the unmarried children, and changing the status to Permanent Resident (F-5) is allowed if the foreign investor maintains the investment for at least 5 years.

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SOUTH KOREA IMMIGRANT INVESTOR

 

The South Korea residence by investment program was first introduced in 2010 with the real estate investment option. In 2012, South Korea introduced the Public Business program to complement its offering with business and bond investment options. The programs provide a 2-year resident permit that is renewable. After 5 years of living in the country, applicants become eligible for South Korea permanent residence and citizenship. The South Korean passport is a world-class travel document providing visa-free travel to the U.S., Europe, and China. South Korean non-permanent residents are not liable to taxation on their foreign income.

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Investment amount 500m KRW, or 300m KRW if 55 years old or older, to be held for 5 years in a development project in a less-developed region

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Month 1

Notification of the Ministry of Justice in the region in South Korea where the investment will be made. (This step only applies to the Risk-Based Investment option.)

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Month 2

Upon approval, gather documents and submit the application to the Immigration Office, along with application fees.

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Month 4

The Immigration Office will review your application and invite you to finalize your investment. Upon completion, you must submit proof of the investment to receive your residence permit.

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Benefits

• Applicants are provided with a 2-year resident permit

• Non-permanent residents can be exempt from income tax on foreign assets

• Eligible for a reduction or exemption on corporate tax, income tax, acquisition tax, and property tax

• Applicant can qualify for citizenship after 5 years

• Foreign Investors are not required to forfeit their previous citizenship at naturalisation

• No physical presence requirements

• Applicants can bring their unmarried children

 

Requirements

• Provide a non-criminal record report and be of good character

• Provide a tuberculosis test certificate

• Possess a net worth above 300m KRW

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Minimum Investment

• 500 million KRW (US$450,000)  or more

• 300 million KRW (US$ 265,000) or more for a retiree investor over 55 years of age

Besides the investment, a retiree investor and the spouse should have assets of 300 million KRW or more at home and abroad.

 

Investment types

• Principal Guaranteed and Interest-F ree InvestmentForeign investors deposit the minimum required money in the public fund which the Korea Development Bank, commissioned by the Ministry of Justice, operates and the investment principal (only) is returned after 5 years.The Korea Development Bank lends the deposit to Small and Medium sized Enterprises at low interest rates.

• Risk-based InvestmentForeign investors make investment of the minimum required money in the development projects carried forward in less developed regions* designated and notified by the Minister of Justice through consultations with the relevant ministry (Ministry of Land, Infrastructure and Transport), and make or lose profits from the investment.

Development promotion regions (Yeongju, Andong, Yecheon) in underdeveloped areas under 「Special Act on the Promotion of Development Investments in Underdeveloped Areas」, and Tourism-Leisure Style Enterprise Cities (Taean, Yeongam, Haenam) under「Special Act on the Development of Enterprise Cities

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Immigrant Investor Scheme for Real Estate

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The Immigrant Investor Scheme for Real Estate (IISRE), introduced for Jeju Island in February 2010, is a government program which gives F-2 Residential status to foreigners investing a certain amount money in real estate designated by the Minister of Justice, and the foreign investors will get F-5 Permanent Resident, if they hold onto the purchased real estate for at least five years.

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• Permanent residency: Investors can gain F-2 if they invest up to 700 million KRW in a real estate designated by the Ministry of Justice, and then acquire the right of permanent residence (F-5) after 5 years.

• Guarantee of Mobility: Investors can freely visit to or reside in other regions beside ones under the IISRE after reporting a change in their place of temporary residence.

• Education: Investors can get public education as Korean citizens do or register the International School in Juju’s Global Education City.

• Medical insurance: Investors have health insurance coverage as Korean citizens do.

• Real estate transactions: Investors can freely divest real estate holdings after getting permanent residency.

• Employment: Investor’s spouse or family members can get a job or engage in any commercial activities.

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What is ‘The Immigrant Investor Scheme

for Real Estate Program?

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Real Estate Investment Immigration System

System Overview

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• Where : Incheon Free Economic Zone Region  (Songdo, Yeongjong, Cheongna)

• What :
  Recreational facilities such as Recreational Condominiums, Hotels, Golf Residences, Villas and Apartments
  * Please inquire its specific requirements.

• How much : Over 0.5 Billion KRW

• Until when : 30 Apr. 2023

 

Immigration Benefits

• Allow to freely enter, depart, live, work, run own business in Korea

• Receive compulsory education as Koreans

• Apply Medical Insurance System & Benefits

 

Procedure for Investment & Acquisition of Permanent Residence Right

• 01. Arrive in Korea

• 02. Request investment consultation/preliminary assessment

• 03. Enter into an investment contract/acquire investment product

• 04. Invest a minimum of KRW 100 million for a Visiting or Joining Family (F-1) Visa; Invest a minimum of KRW 500 million for a Long-term Resident (F-2) Visa

• 05. Change the Visiting or Joining Family (F-1) Visa; Extend the Long-term Resident (F-2) Visa

• 06. Apply for a Permanent Foreign Resident (F-5) Visa upon retaining the investment asset for five years)