D-8 Visa: Corporate/ Foreign Investor
The D-8 visa is for individuals who wish to start up small businesses in Korea. The D-8 visa is also for foreign appointed managers of local companies, executives, senior managers or employees with specialist skills.
Eligibility
You are eligible to apply for D-8 visa if:
1. You are working at a Foreign Investment company
2. You have established a venture based on advanced technology (holding an intellectual property right, etc.) and your company has been confirmed as a venture in accordance with Article 25 of the Act or your technology has been evaluated as advanced
3. You have invested into a company run by a Korean citizen
4. You have a bachelor’s degree or higher and a founder of a corporation, who has either an intellectual property right or equivalent skills.
Required Documents
D-8 visa is further divided into 4 subcategories and the documents required depends on the category you are applying for.
D-8-1 Incorporated Enterprise visa for eligible applicants stationed at foreign invested company in accordance with the Foreign Investment Promotion Act. (Not including Cuba)
The investment target must be a Korean enterprise (including the ones that are in the midst of establishment process).
The amount of investment must be at least 100 million KRW, and you must either have at least 10 percent of the total capital stocks of the company in addition to the voting right or sign a contract of dispatching and appointing executives by having some stock shares.
Required Documents
-
Visa Application form
-
Valid passport
-
One standard-size photograph
-
Fee
-
Dispatch order (must indicate the dispatch period)
-
Proof of employment of overseas assignment
-
Foreign investment report form or a copy of investment company registration certificate
-
Photocopy of business registration certificate
-
Documents demonstrating the transfer of investment capitals
Additional documents for private investors whose investment money is less than 300 million KRW
– Documents demonstrating the start-up capitals (receipt for purchased goods, office interior fee, domestic bank account deposit/withdrawl statement)
– Documents demonstrating existence of the place of business (office lease contract, photographs of the front view of the office, inside of the office signs and other materials)
– documents proving the work experiences or entrepreneurial experiences from the applicant’s origin of nationality. (required when necessary)
D-8-2 Business Venture visa for those with business ventures in accordance with the Special Act on the Growth of Business Ventures (Not including China and Cuba)
Documents required
-
Visa application form
-
photocopy of passport
-
one standard size photograph
-
Fee
-
Photocopy of Business Registration Certificate
-
Business Venture Confirmation or Prospective Business Venture Confirmation
-
Documents demonstrating that you have either the intellectual property right or equivalent skills. For example:Patent right card (Korean Intellectual Property Office), Utility Model Right registration card (Korean Intellectual Property Office) and Korea Technology Finance Corporation or Small and Medium Business Corporation Assessment Test Result
D-8-3 Unincorporated Enterprise visa for foreigners who have invested in a company run by a Korean national
Documents required
-
Visa Application Form
-
Passport
-
One Standard Size Photograph
-
Fee
-
Foreign investment report form or a copy of investment company registration certificate
-
Documents demonstrating the usage of start up capitals by a Korean national who is the co founder
-
Original copy of Business Partnership Agreement
-
A photocopy of Business Registration Certificate on which the name of c-founder is written
-
Documents demonstrating the transfer of investment capitals. For example:declaration of foreign currency transfer or confirmation of remittance issued by the Customs or a bank (financial institution) of the respective country, Photocopy of Investment in Kind Completion Confirmation Letter (issued by the head of Korea Customs Service)
Additional Documents for individual investor who has invested less than 300 million KRW
Documents demonstrating the details of usage of the investment funds (product purchase receipt, office interior fee, deposit/withdrawal records of a domestic bank account etc.
Documents demonstrating existence of the place of business (office lease contract)
Documents proving the work experiences or entrepreneurial experiences from the applicant’s origin of nationality. (required when necessary)
D-8-4 Technology and Business Start up visa for founders of a corporation regarding technology and business, who have bachelor’s degree or intellectual property rights or equivalent skills
Documents Required
-
Application form
-
Valid passport
-
Alien registration card (respective candidate)
-
One standard size photograph
-
Complete business registration certificate and a copy of business registration card
-
Documents demonstrating that you have either intellectual property right or equivalent skills
-
Any documents proving points earned through the Points-Based System (Copies of Patent Card , Utility Model Registration Card, Design Registration Card for Intellectual Property Right Holders (Candidates) only)
Maximum Length Of Stay
-
Supervisory activities of foreign investment corporations : 5 years
-
If you have established a business venture in accordance with the Act on Special Measures for the Promotion of Business Ventures : 2 years (However, a prospective venture business will get 6 months)
-
You have a bachelor’s degree or higher and a founder of a corporation, who has either an intellectual property right or equivalent skills: 2 years
Change/ Addition of Workplace
You are not subject to the report of ‘Change/Addition of Workplace. You are subject to report ‘Change in Registration Information’.
Extension Of Stay
You can apply for an extension at your regional immigration office. To apply for the extension of stay you need:
-
Application form
-
Valid passport
-
Alien registration card
-
One standard-size photograph
-
Tax payment certificate
-
Documents proving the place of residence (i.e. Lease contract, confirmation of provided residence etc.)
* Additional documents such as: Copy of business registration card, complete business registration card, Copy of degree certificate, Documents demonstrating that you have either intellectual property right or equivalent skills, Documents demonstrating the introduction of investment funds [Foreign currency transfer permit (declaration form) from the Customs or banks (financial institution) of the country of origin] will also be require depending on the discretion of the immigration officer and the visa extension you are applying for.
Re-entry Permit
Due to the revision of the Enforcement Regulations of Dec. 1, 2010 Korea now Implements Re-entry Permit Exemption. So under the new system, if you are a registered foreigner and plan to return to Korea within 1 year from the departure date, you are exempted from the re-entry permit requirement. In addition, if less than 1 year is left on your visa you are exempted from re-entry permit for the remaining period.
However, if you need the permission due to the entry restrictions, you may submit application to an Immigration (Branch) Office free of charge. You will need:
-
An application form
-
Valid passport
-
Alien Registration Card
-
Fee (single: 30,000 KRW, multiple: 50,000 KRW)
Also please remember that you need to apply for an Alien Registration Card since you plan to stay in Korea for more than 90 days. Apply for the alien card within 90 days of your arrival.
For more information or inquiries please contact your nearest Korean Consulate/ embassy or your local immigration office. You can also visit the immigration website at www.hikorea.go.kr