Determining livelihood capacity (hereinafter referred to as “annual income”) based on the following criteria
end. Income source
-The applicant, spouse (excluding true marriage), minor children, and parents (excluding the spouse’s parents) who live with the applicant and continue to live with the applicant during the income calculation period.
* In principle, if the address (residence place) is used together
-If you apply for a score-based permanent resident (F-5-16) or a pensioner permanent resident (F-5-13)
I. Income calculation period
○ One year before the year the application date falls
Example) If the date of application for permanent residence is 2018.1.1. ~ Income calculated until December 31, 2017 (※ Not the latest 365 days back to the date of application)
All. Accepted Income Types
○ If there is at least one of the following income under Article 4 (1) (General income) of the 「Income Tax Act」, each income shall be summed up only if the income tax is paid (income tax paid due to the relevant income and the relevant income): Can be summed)
-In the case of a person applying for permanent residency (F-5-13) for pension, only the pension received from overseas is recognized as income.
○ Income that is not subject to income tax, even though it is subject to income tax payment, will not be recognized.
-If income is not required to pay income tax pursuant to Article 12 (Non-Taxable Income) of the Income Tax Act, the relevant evidence will be reviewed to determine whether income is recognized.
○ Assets such as housing are not recognized as income. However, if income tax is paid due to income from assets, the income and income tax are recognized.
la. Evidence of Recognized Income
-Documents related to tax payments, such as “ Certificate of Income Amount ” (issued by the Tax Office), including income and taxes paid
-If it is impossible to issue official documents such as proof of income amount at the date of application for change of permanent residence status, submit all the following documents:
㉮ Earned income withholding receipt
증 Proof of account related to the amount of income received
㉰ Business (employer) and applicant’s pledge
-If the submitted documents are unreliable, public proof documents such as income income certificate can be requested.
-If the necessity of verification and confirmation occurs even after the decision of permission, verification is possible by submitting documents such as proof of income amount.
※ If you do not meet the requirements due to disagreement
hemp. Annual income comparison standard
GNI per capita last year as of the date of application
GNI per capita in the previous year as of the application date
bar. Review of livelihood requirements
○ If the sum of the income earner’s income meets the annual income required for each permanent resident status, it is recognized as having livelihood requirement.
-However, if the person who applied for permanent residence in Korea (F-5-8) who does not meet the annual income does not meet his or her annual income, he / she can live with him / her for the last year and live with him / her (spouse, If the real estate (including lease) of children and applicants’ parents is more than 60 million won, it is recognized as a living requirement.
Exemptions or Mitigations
○ Large Investor (F-5-5)
○ Capability holder in specific fields (F-5-11)
○ Special Merit (F-5-12)
○ Real Estate Investor (F-5-17)
○ Children born in Korea permanently (F-5-20)
○ Spouse or single child of real estate investor (F-5-19)
○ Public Investor General Investor (F-5-21)
○ Spouse or unmarried child of public utility investor (F-5-22)
○ Retirement immigrant investor in public utilities (F-5-23)
○ Technology Startup Investor (F-5-24)
○ Conditional Major Investor (F-5-25)
○ A person who has graduated normally from the relevant degree program for studying abroad
Ease the regulation
○ Born in South Korea, Korean-Chinese (F-5-8)
-If the number of household members (spouse, parents, children) is 2 or less, 70% or more of the GNI per person in the previous year is recognized as satisfying the annual income.
-If you do not meet the annual income, if you own more than 60 million won in real estate owned or rented by a living family member (spouse, children, applicant’s parents) who have been living for the past one year as of the date of application for permanent residence. Authorization (there is no amount of money division according to the number of families living together)
All images & graphics used on this Visas Korea website either given permission to be used by express consent or are licensed under creative commons. for a list of the images used please click here