Corporate investor, D-8
The D-8 Corporate Investor visa, also known as the business investor visa, is for those who wants to start a business in South Korea. It could be a new business such as a restaurant, import/export business, publishing agency, travel agency or even a guest house. Korean law doesn’t restrict which type of business you can open, as long as your business isn’t illegal, giving you a lot of options for your new business in Korea. As it’s an investor visa, there’s a minimum amount of money that you will have to invest. The minimum amount is 100,000,000 KRW, which is roughly 85,000 USD. Another way to obtain the visa, is to invest the money in a business. Operated by a Korean citizen, rather than having to start up your own business. Though the initial visa you are able to obtain, is only valid for one year. But you can obtain a permanent residence visa, once your business has fulfilled some requirements. Your business will have to have hired two Korean citizens, as well as have obtained 300 million KRW in funding.
As there’s many different types of business, that you can open many different types of business. Obtaining the visa isn’t difficult, if you have the money to invest. Though, if you are planning to be self-employed. You could run into problems, as you cannot register your business as “I am a teacher”.
Applying for the visa, requires you to submit some documents to obtain the visa. The documents are as following:
- Application form
- Copy of FDI confirmation letter
- Copy of business registration
- Certificate of remittance issued by the relevant bank
- Certificate of declaration of a foreign currency
- Copy of bank book
- Copy of office lease contract
All the documents has to be submitted to, the your local Korean embassy or Korean consulate.
Once you have arrived in Korea, you will have to go to your local immigration office. To get your Alien Registration Card, which gives you access to register for different services in Korea. Such as setting up a bank account, setting up a phone contract, etc.
After you have gotten the visa, you will have to apply for a tax payment certificate. That certificate, requires a lot of documents to be submitted. The documents may vary, depending on the visa issuance office.
- Confirmation Letter of Visa Issuance
- Photo or Photocopy of Passport
- Dispatch Order or Assignment Letter
- Certificate of Employment
- Certificate of Business Registration
- Incorporation Register Book
- Certificate of FDI Company Registration
- Declaration of Foreign Currency
- Certificate of Foreign Currency Purchase
- Incoming Remittance Details
- Office Lease Contract
- Certificate of Tax Payment
- Certificate of Export Report
- Power of Attorney