Investment immigration and setting up a business in Korea with D-8 VISA

If you are planning to invest or running a business on Korea, there are certain procedures you should take into account.

There are about 36 kinds of VISA in Korea, and D8 is a visa for foreigners who are coming to Korea for investment.

Ministry of Justice in Korea who's responsible for immigration affairs sets foreign investment has to meet following condition:

• Amount of investment has to be larger than 100,000,000 won
• has to possess over 10% of stock company had issued.

There are 4 kinds of Business Investment, and most of the cases are 

investing on Korean Corporations. To set up your business in Korea, there are 4 big steps you should follow.

1. Writing a Foreign Investment by Acquisition of Stocks (or Contribution) Notification Form

This form will also be used later when applying for VISA, so it should be cared thoroughly.

What you check for the application may differ depending on your needs, and documents you will need after the application also differ.

2. Transfer the Capital(Cash)

After writing a application form, you have to transfer the capital you are going to bring to Korea. 

Note that the capital has to be transferred through foreign exchange bank by the name of foreign investor. If the capital or cash are originated from Korea, it won't be accepted as a foreign investement. 

During the procedure of payment of stocks, the bank will issue an receipt of payment for the share, and a certificate of foreign exchange purchases.

The former receipt will be used for corporate registration later and the latter one will be used to register for foreign invested enterprise and to apply for D8 visa.

Since D8 visa is an investment visa, it has to be proved that the capital has come to Korea in foreign currency and that was invested on Korean enterprise with certain proportions. This cash flow is the most important thing the immigration office evaluates for the visa application.

3. Corporate Registration and Business Registration

With the documents prepared, you have to do corporate registration and buisness registration. Two are different, and since we are talking about investing on Korean Corporation, both registration have to be satisfied.

To do a corporate registration, you will need a help from Korean Legal offices.

After registering enterprise, you will then transfer the payment of stocks mentioned above to the company account.

4. Foreign Invested Corporation Registration

For all the procedures we've made so far, we are now eligible to apply for Foreign Invested Corporation.

After submitting the form and accepted, you will get a certificate as following.

Now you are done with setting your business up in Korea. All you have to do more is apply for D8 visa while preparing some more documents for it.

D8 VISA Requirements:

These are required documents for D8 VISA. 

Most of the documents are what describe a company's status, whether a corporation has paid tax, how the stock is shared by holders, and so on.

After all the procedures, you will fill in the VISA application form as below and you will get confirmation of visa issuance if nothing goes wrong.

It takes a lot of effort and time for starting up a business and getting a visa here. It seems nearly impossible to handle issues by oneself and even harder when it comes to foreigners.

In Korea, There are professional administrative legal officers dealing with these issues certified by Korean government.

If you are thinking of making your own business in Korea, begin now by consulting with us, and get informations.

We will give you feedbacks or solutions as soon as possible. Please contact us with following contact info:

Contact

Telephone : +82-2-2138-2178

Mail : jobnvisa@gmail.com