Explanation of Foreign Investment D8 Visa in Korea
The D8 visa is a type of visa issued by the Korean government to foreign investors who wish to invest in a Korean company or start their own business in Korea.
This visa is specifically designed to encourage foreign investment in Korea and promote profitable growth in the country.
Purpose of the Visa
The main purpose of the D8 visa is to attract foreign investors to Korea by furnishing them with a streamlined visa operation process and other benefits.
With the D8 visa, foreign investors can fluently start their own businesses in Korea or invest in living Korean companies without facing the same restrictions and limitations as other types of visas.
Benefits of the D8 Visa for Foreign Investors in Korea
Some of the main benefits of the D8 visa for foreign investors include
Streamlined visa application process
No need for sponsorship or a Korean employer
The ability to start a new business or invest in an existing business in Korea
Permission to work in Korea without additional visa requirements
Opportunities for permanent residency in Korea
The chance to participate in various government support programs and initiatives for foreign investors
Requirements for the D8 Visa (Investment Visa in Korea)
Overview of the Eligibility Criteria
To be eligible for the D8 visa, foreign investors must meet the following requirements:
Have a minimum investment of KRW 100 million (approximately USD 85,000)
Be the CEO, director, or shareholder of a Korean company
Create at least one full-time job for a Korean citizen
Pass a criminal background check and a health examination
Have the necessary skills and expertise to run a business in Korea
Explanation of the Documentation Required
Foreign investors must also submit several documents as part of their D8 visa application, including:
Business plan
Proof of investment, such as bank statements or investment contracts
Corporate registration certificate of the Korean company
Employment contract for the Korean citizen employee
Criminal background check and health examination results
Passport and other personal identification documents
Detailed Explanation of the Investment Requirement in Korea
One of the main requirements for the D8 visa is the minimum investment amount of KRW 100 million. This investment can take various forms, including:
Capital investment in a Korean company
Investment in real estate or infrastructure projects in Korea
Investment in a Korean startup or venture company
Investment in a Korean government-approved project or program
To prove the investment, foreign investors must provide documentation that shows the source of the investment, the investment period, and the investment evaluation. The investment evaluation is based on various factors, including the size and type of the investment, the economic impact of the investment, and the potential for job creation and technology development.
Foreign investors must also commit to keeping their investment in Korea for a minimum of three years and follow certain restrictions on their investment, such as limitations on dividend payouts and share transfers.
In addition to the investment requirement, foreign investors must also create at least one full-time job for a Korean citizen within six months of obtaining the D8 visa. This job must be directly related to the foreign investor’s business activities in Korea and must be maintained for the entire duration of the visa.
Alternative Investment Options for Startups and Venture Companies
Foreign investors who are interested in investing in Korean startups or venture companies may be eligible for alternative investment options, such as the K-Startup Grand Challenge or the Korea
Once the investment demand is met, the coming step is to prepare and submit the needed attestation. Some of the documents demanded include a business enrollment instrument, a duty concurrence instrument, and a instrument of employment. The investor must also give a dupe of their passport and evidence of their fiscal capacity to make the investment. It’s important to note that the investment must be made within six months of carrying the visa, and the investment must be maintained for the duration of the visa. Failure to misbehave with these conditions could affect in the cancellation of the visa and the investor being needed to leave the country.
In addition to meeting the investment and attestation conditions, foreign investors must also pass a medical examination and a felonious background check. The medical test is designed to insure that the investor doesn’t have any transmissible conditions or other health issues that could pose a trouble to public health in Korea. The felonious background check is intended to insure that the investor doesn’t have a felonious record that would make them ineligible for the visa. Once all of the conditions have been met and the operation has been submitted, the Korean Immigration Service will review the operation and make adecision.
However, the investor will be granted a D8 visa and will be suitable to enter and exit the country freely for the duration of the visa, If the operation is approved.
In conclusion, the D8 visa is an excellent option for foreign investors who are interested in investing in Korea.
The visa offers a variety of benefits, including the capability to live and work in Korea, as well as duty impulses and other advantages.
still, it’s important to precisely review the eligibility criteria and investment conditions before applying for the visa.
With the right medication and attestation, foreign investors can successfully gain a D8 visa and begin their investment trip in Korea.
Doing Business in Korea: Legal Information for Foreigners
FAQs (Investment Visa in Korea)
Q1. Can I apply for a D8 visa if I’m not a citizen of one of the countries that Korea has a duty convention with?
A. Yes, you can still apply for a D8 visa, but you won’t be eligible for the duty impulses handed under the duty convention.
Q2. Can I apply for a D8 visa if I don’t plan to invest in Korea?
A. No, the D8 visa is specifically for foreign investors who are interested in investing in Korea.
Q3. How long does it take to reuse a D8 visa operation?
A. The processing time for a D8 visa operation varies, but it generally takes between 3- 4 weeks.
Q4. Can I work for a company other than the bone I invested in with my D8 visa?
A. No, the D8 visa is specifically for working for the company that you invested in.
Q5. Can I bring my family with me on a D8 visa?
A. Yes, family members can accompany the investor on a D8 visa, but they must apply for their own visa and meet the eligibility criteria.
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