1. Overview
F-5-21 grants permanent residency to a foreign national who has invested 1.5 billion KRW or more in a government-designated public interest business and maintained that investment for 5 or more years. F-5-22 grants permanent residency to the spouse and child of an F-5-21 holder. F-5-23 covers retirement immigration investors who invest in public interest businesses under a designated retirement immigration program. All three categories are exempt from both the living support requirement and the basic competency (Korean language/KIIP) requirement.
2. Eligibility Requirements
- F-5-21: Must have invested KRW 1.5 billion or more in a government-designated public interest business
- F-5-21: Investment must be maintained continuously for 5 or more years
- F-5-22: Must be the spouse or child of an F-5-21 permanent residency holder
- F-5-23: Must qualify as a retirement immigration investor under the designated retirement immigration program investing in public interest businesses
- Living support requirement: EXEMPT for F-5-21, F-5-22, and F-5-23
- Basic competency (Korean language/KIIP): EXEMPT for F-5-21, F-5-22, and F-5-23
3. Required Documents
Specific documents per case will be advised in your free consultation.
4. Procedure
- Confirm the business holds valid government designation as a public interest business
- Compile investment proof and 5-year continuous maintenance records
- For F-5-22: gather authenticated family relationship documents
- For F-5-23: obtain retirement immigration program certification and investment proof
- Submit application at the local immigration office and receive F-5 card upon approval (2–4 weeks)
5. Frequently Asked Questions
Q. What qualifies as a "public interest business" for F-5-21?
A. Public interest businesses must be officially designated by the Korean government (typically the Ministry of Justice or Ministry of Economy and Finance). These include social enterprises, social overhead capital projects, regional development funds, and similar government-approved investment vehicles. Contact Vision Admin Office to confirm current designations.
Q. Can the KRW 1.5 billion investment be made in stages?
A. The total investment amount must reach and be maintained at KRW 1.5 billion or more over the 5-year period. Phased investment arrangements may be acceptable depending on the structure of the investment vehicle — consult with an agent for your specific investment arrangement.
Q. What is the retirement immigration program for F-5-23?
A. The retirement immigration program is a government-designated scheme for foreign retirees who invest in approved public interest vehicles. Participants typically must meet age and financial thresholds set by the program. Eligibility criteria are specific to the program and should be confirmed before application.