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D8 visa process in Korea
To begin with, the process for obtaining a D-8 visa primarily involves determining who the investor is. Depending on who the investor is, the process might not change significantly, but it’s still necessary to ascertain this beforehand.
The steps are as follows:
- Provide basic information to VisasKorea.
- VisasKorea prepares documents such as power of attorney and sends them via email.
- The foreign corporation prepares apostilled documents in their country and sends them to Korea.
- VisasKorea opens a bank account for the foreign corporation.
- The foreign corporation transfers investment funds.
- VisasKorea handles bank transactions and then registers the corporation.
- VisasKorea applies for a business license.
- VisasKorea issues a Certificate of Registration of Foreign-Invested Company.
- VisasKorea applies for the visa.
Key Requirements for getting a D-8 visa
- Investment Minimum: At least KRW 100 million (about USD 77,000).
- Business Involvement: Must be a CEO, director, or shareholder of a Korean company.
- Job Skill: To work in Korea, it’s necessary to demonstrate professional-level job skills.
- Documentation: Business plan, proof of investment, corporate registration certificate, employment contract for the Korean citizen employee, etc.
Application Timeframe
- Preparing documents ( 2 days )
- Apsotille document ( one week ).
- Sending documents ( 3 days )
- Register the company ( 4 days )
- Issuing business lisence ( 2 days )
- Openning company bank account ( one day )
Benefits of D-8 visa
- Enables long-term stay in Korea.
- Allows for family invitations (spouse and minor children).
- Permits inviting parents.
- Possibility of changing to a higher-level visa.
- Qualification for permanent residency after 5 years.
Eligibility and Types of D-8 Visas
- D-8-1 Visa (Incorporated Enterprise Investment): For those managing a foreign-invested Korean corporation or essential specialists in production and technology.
- D-8-2 Visa (Business Venture Investment): Aimed at individuals with technical skills or possessing intellectual property rights.
- D-8-3 Visa (Unincorporated Private Enterprise Investment): For specialists intending to manage a foreign-invested company owned by a Korean national.
- D-8-4 Visa (Technology and Business Startup): Designed for individuals with a degree and founders of corporations with intellectual property rights or equivalent skills.