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ATTORNEY [ licensed to practice in KOREA, U.S.A., ILLINOIS ] LEE, JAE WOOK
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[Category]
INVESTMENT IN KOREA


[Title]
Eligibility, required documents and other prerequisites [D-8]
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/ Eligibility, required documents and other prerequisites [D-8]


RANGE OF ACTIVITIES AND ELIGIBLE APPLICANTS

1. Working at a Foreign Investment company

You are an indispensable skilled worker** planning to engage in management, administration or production, technology of a foreign investment Korean corporation* in accordance with regulations of the [Foreign Investment Promotion Act]
* including a corporation that is in the process of establishment
** NOT including a person hired domestically
2. You have established a venture based on advanced technology (holding an intellectual property right, etc.) in accordance with paragraph (1) 2 (c) of Article 2-2 of [the Act on Special Measures for the Promotion of Business Ventures], and your company has been confirmed as a venture in accordance with Article 25 of the Act or your technology has been evaluated as advanced

3. You have invested into a company run by a Korean citizen

You have invested into a corporation run by a Korean citizen in accordance with the [Foreign Investment Promotion Act] and you want to engage in management, administration or production, technology of a corporation as an indispensible skilled worker*. [hereinafter referred to as ‘Unincorporated Enterprise (D-8-3)’]
* NOT including a person hired domestically
4. You have a bachelor’s degree or higher and a founder of a corporation, who has either an intellectual property right or equivalent skills [hereinafter referred to as ‘Technology and Business Starup’ (D-8-4)]



MAXIMUM LENGTH OF STAY

Supervisory activities of foreign investment corporations : 5 years
If you have established a business venture in accordance with the Act on Special Measures for the Promotion of Business Ventures : 2 years (However, a prospective venture business will get 6 months)
You have a bachelor’s degree or higher and a founder of a corporation, who has either an intellectual property right or equivalent skills: 2 years


VISAS ISSUED AT THE DISCRETION OF THE HEAD OF A DIPLOMATIC MISSION ABROAD

1. D-8-1 Incorporated Enterprise visa issuance to eligible applicants for being stationed at foreign invested company in accordance with the Foreign Investment Promotion Act. (Not including Cuba)
A. Basic Requirements

The investment target must be a Korean enterprise (including the ones that are in the midst of establishment process).
The investment amount is 100 million KRW or more, The amount of investment must be at least 100 million KRW, and you must either have at least 10 percent of the total capital stocks of the company in addition to the voting right (Paragraph 1, Article 2(2) of the Foreign Investment Promotion Act) or sign a contract of dispatching and appointing executives by having some stock shares (Paragraph 2, Article 2(2) of the Foreign Investment Promotion Act)
B. Application Center

In principle, you must apply at a Korean Embassy/Consulate General in your country.
※Nevertheless, if you are running a company in other countries (including the long term stay people who have permanent residency), he/she can apply at a Korean Embassy/Consulate General at the country you are currently residing in.

REQUIRED DOCUMENTS
(1) Visa Application form (form #17), passport, one standard-size photograph, fee
(2) Dispatch order (must indicate the dispatch period) and proof of employment of overseas assignment
(3) Foreign investment report form or a copy of investment company registration certificate
(4) Photocopy of business registration certificate, complete business registration certificate, original copy of circumstantial statement of change of shareholder
(5) Documents demonstrating the transfer of investment capitals
Case A. Payment in Cash
– Permission (declaration) of foreign currency transfer or confirmation of remittance issued by the Customs or a bank (financial institution) of the respective country
– Investment funds introduction statement (confirmation of foreign currency transfer, certificate of purchased foreign currency, customs declaration form and others)
Case B. Investment in Kind
– Photocopy of Investment in Kind Completion Confirmation Letter (issued by the head of Korea Customs Service)
– Photocopy of Customs Import Declaration Certificate
(6) Additional documents for private investors whose investment money is less than 300 million KRW
– Documents demonstrating the start-up capitals (receipt for purchased goods, office interior fee, domestic bank account deposit/withdrawl statement)
– Documents demonstrating existence of the place of business (office lease contract, photographs of the front view of the office, inside of the office-signs and other materials)
– documents proving the work experiences or entrepreneurial experiences from the applicant’s origin of nationality. (required when necessary)

※The Chief of Mission may ask additional documents or omit them in order to examine the purpose of entry, genuineness of the invitation, qualifications of the inviter and the invitee



2. D-8-2 Business Venture visa issuance to those who have found business ventures in accordance with the Special Act on the Growth of Business Ventures (Not including China and Cuba)
A. Basic Requirements

You are among those who have established a business venture* with excellent technical capability, for example, by possessing an industrial property right or intellectual property right, in accordance with Subparagraph 2(c), Paragraph 1, Article 2-2 of the Act on Special Measures for the Promotion of Business Venture. Also, you have obtained a confirmation of business venture** as the CEO of a particular company or the CEO of a company that is considered to have excellent skills*** in accordance with the aformentioned act. [hereinafter referred to as ‘D-8-2 Business Venture’]
* includes a Technology Assessment Guaranteed Corporation and a prospective business venture (i.e. business venture that is in the midst of establishing process or of business registration, or business venture newly established within the past 6 months range)
** The Korea Technology Finance Corporation (Korea Technology Finance Corporation Act), the Small and Medium Business Corporations (Small and Medium Business Promotion Laws) or the Korean Venture Capital Association (Special Act on Promotion of Business Venture Firms) will confirm whether a company is a business venture or a prospective venture.
*** Assessment is given by the Korea Technology Finance Corporation (Korea Technology Finance Corporation Act ) or the Small and Medium Business Corporations (Small and Medium Business Promotion Laws)
B. Application Centre

In principle, you must apply at a Korean Embassy/Consulate General in your country
※However, if you are running a company in other countries (including the long term stay people who have permanent residency), he/she can apply at a Korean Embassy/Consulate General at the country you are currently residing in.
REQUIRED DOCUMENTS
(1) Visa application form (form #17), photocopy of passport, one standard size photograph, fee
(2) Photocopy of Business Registration Certificate, complete business registration certificate
(3) Business Venture Confirmation or Prospective Business Venture Confirmation
(4) Documents demonstrating that you have either the intellectual property right or equivalent skills
– Patent right card (Korean Intellectual Property Office), Utility Model Right registration card (Korean Intellectual Property Office), design registration card (Korean Intellectual Property Office), Trade mark registration card(Korean Intellectual Property office), copy of right registration card (Korea Copyright Commission) and others
– Korea Technology Finance Corporation or Small and Medium Business Corporation Assessment Test Result

※The Chief of Mission may ask additional documents or omit them in order to examine the purpose of entry, genuineness of the invitation, qualifications of the inviter and the invitee

3. D-8-3 Unincorporated Enterprise visa issuance to foreigners who have invested in a company run by a Korean national
A. Basic Requirements

The investment must be made to a company run by a Korean national (individual)
You have invested at least 100 million KRW, which is ten or more percentage of the total investment start-up capitals of the company (Paragraph 1, Article 2(2) of the Presidential decree of the Foreign Investment Promotion Act) Furthermore, you are registered as the co-founder with the other Korean CEO on the business registration certificate.
A co-founder who is a Korean national must invest at least 100 million KRW as the start-up capitals.
B. Application Centre

In principle, you must apply at a Korean Embassy/Consulate General in your country
Nevertheless, if you are running a company in other countries (including the long term stay people who have permanent residency), he/she can apply at a Koreean Embassy/Consulate General at the country you are currently residing in.
REQUIRED DOCUMENTS
(1) Visa Application Form (form #17), Passport, One Standard Size Photograph, Fee
(2) Foreign investment report form or a copy of investment company registration certificate
(3) Documents demonstrating the usage of start up capitals by a Korean national who is the co founder
(4) Original copy of Business Partnership Agreement and a photocopy of Business Registration Certificate on which the name of c-founder is written
(5) Documents demonstrating the transfer of investment capitals
Case A. Payment in Cash
– Permission (declaration) of foreign currency transfer or confirmation of remittance issued by the Customs or a bank (financial institution) of the respective country
– Investment funds introduction statement (confirmation of foreign currency transfer, certificate of purchased foreign currency, customs declaration form and others)
Case B. Investment in Kind
– Photocopy of Investment in Kind Completion Confirmation Letter (issued by the head of Korea Customs Service)
– Photocopy of Customs Import Declaration Certificate
(6) Additional Documents for individual investor who has invested less than 300 million KRW
– documents demonstrating the details of usage of the investment funds (product purchase receipt, office interior fee, deposit/withdrawal records of a domestic bank account and others)
– Documents demonstrating existence of the place of business (office lease contract,
photographs of the front view of the office, inside of the office • signs and other
materials)
– documents proving the work experiences or entrepreneurial experiences from the applicant’s origin of nationality. (required when necessary)
※Private investors who have invested less than 300 million KRW and have no entrepreneurial experiences will be closely reviewed.
※The Chief of Mission may ask additional documents or omit them in order to examine the purpose of entry, genuineness of the invitation, qualifications of the inviter and the invitee



4. D-8-4 Technology and Business Startup visa issuance for founders of a corporation regarding technology and business startup immigration, who have bachelor’s degree or intellectual property rights or equivalent skills.
A. Basic Requirements

You have a bachelor’s degree or higher
* Degrees acquired in Korea or abroad are both acceptable. However, only the degrees that are already conferred are recognized, which means prospective graduates are NOT eligible to apply for this category.
You have an intellectual property right* or equivalent skills**
* refers to recognizable Intellectual Property Rights by Korean Laws such as the Patent Right (Patent Right Law), Utility Model Right (The Utility Model Law), Design Right (Design Protection Law), Trade Mark Right (Trade Mark Right), Copy Right (Copy Right Law) and others.
** refers to entrepreneurial items selected as the winner of government funds based on the Support for Small and Medium Enterprise Establishment Act, however, the item must be the foreign investor’s idea.
You must have completed the business registration and corporate registration after establishing a company in Korea.
B. Application Center

In principle, you must apply at a Korean Embassy/Consulate General in your country
Nevertheless, if you are running a company in other countries (including the long term stay people who have permanent residency), he/she can apply at a Korean Embassy/Consulate General at the country you are currently residing in.
REQUIRED DOCUMENTS
(1) Application form (form #34), passport, alien registration card (respective candidate), one standard size photograph
(2) Complete business registration certificate and a copy of business registration card
(3) Documents demonstrating that you have either intellectual property right or equivalent skills
(4) Any documents proving points earned through the Points-Based System
– Copies of Patent Card , Utility Model Registration Card, Design Registration Card for Intellectual Property Right Holders (Candidates) only
⇒You can use the ‘Patent Information Net Kipris’ website www.kipris.or.kr) of the Korea Intellectual Property Office to browse whether one has an intellectual property right or not.
– Patent Candidates must submit application certificate issued by the head of Korea Intellectual Property Office
– A certificate for completion or graduation of the OASIS program issued by the head of Global Investment Center designated by the Minister of Justice, award winner confirmation letter, official statement of selection, and etc.
– Other documents that can prove points earned through the Points-Based System
※The Chief of Mission may ask additional documents or omit them in order to examine the purpose of entry, genuineness of the invitation, qualifications of the inviter and the invitee

5. A single-entry visa in which the sojourn period lasts for one year at least will be issued to Chileans in accordance with the Free Trade Agreement between the Government of the Republic of Korea and the Government of the Republic of Chile.

Even if you fail to submit required documents for a D-8 Corporate Investment visa, you will be given a C-3-4 Business Visitor (General) visa if falling under the respective visa requirements
6. Agreement between the Government of the Republic of Korea and the Government of the Russian Federation on Temporary Labor Activities of Nationals of One State in the Territory of the Other State.
A. Eligible Applicants

The CEO (Article 2(c))
– You control or manage a company located in Korea in accordance with Russian laws or charters on corporation, documents of individual business establishments
B. Visa centers: A Korean diplomatic mission abroad in your country

REQUIRED DOCUMENTS
(1) Application for a confirmation of visa issuance (form no. 21) a copy of passport, one standard size photograph
(2) Dispatch order (indicates the period of overseas assignment) or a proof of employment
(3) Foreign investment declaration or a copy of foreign investment registration
(4) A certified copy of register and a copy of business registration
⇒If your representative applies on your behalf, additional documents such as a power of attorney, a proof of current employment status and ID card of the representative are required.
※The head of an immigration (branch) office may ask additional documents if it is deemed necessary to examine genuineness of the invitation and the qualifications of the inviter and the invitee.

7. Agreement between the Government of the Republic of Korea and the Government of the Republic of Uzbekistan on Temporary Labor Activities of Nationals of One State in the Territory of the Other State.
A. Eligible Applicants

the CEO or a specialized employee of a company where foreign companies have participated in investment (Article 3(a) of the Agreement)
– CEO of Uzbekistan national company or the CEO or a specialized employee of a foreign investment company engaged in commercial activities in territories of the Republic of Korea (Article 2(c) of the Agreement)
B. Visa Centers : Diplomatic Mission Abroad

REQUIRED DOCUMENTS
(1) Application for visa issuance (form no. 21), a copy of passport , one standard size photograph
(2) Dispatch order (dispatch duration should be indicated) or a proof of employment
(3) Foreign Investment Declaration or a copy of invested corporation registration
(4) Certificate of register and a copy of business registration
⇒If your representative applies on your behalf, additional documents such as a power of attorney, a proof of current employment status and ID card of the representative are required.
※The head of an immigration (branch) office may ask additional documents if it is deemed necessary to examine genuineness of the invitation and the qualifications of the inviter and the invitee.



ELIGIBILITY FOR THE VISA ISSUANCE CONFIRMATION

1. Eligible Applicants who are stationed at a foreign invested company (for only those dispatched to South Korea only)
A. Basic Requirements

The investment must be made to a Korean corporation (including a corporation that is in the midst of establishing process in Korea.)
The amount of investment must be at least 100 million KRW, and you must either have at least 10 percent of the total capital stocks of the company in addition to the voting right (Paragraph 1, Article 2(2) of the Foreign Investment Promotion Act) or sign a contract of dispatching and appointing executives by having some stock shares (Paragraph 2, Article 2(2) of the Foreign Investment Promotion Act)
B. Application Center

Jurisdictional immigration (branch) office
REQUIRED DOCUMENTS
(1)Application for a confirmation of visa issuance (form no. 21), passport, one standard size photograph
(2) Dispatch order (indicates the period of overseas assignment) and a proof of employment
(3) Foreign Investment Declaration or a copy of investment company registration
(4) Photocopy of Certificate of Businessman, Corporate Registration Certificate, original Copy of Change of Stockholder Statement
(5) Documents demonstrating the transfer of investment capitals
Case A. Payment in Cash
– Permission (declaration) of foreign currency transfer or confirmation of remittance issued by the Customs or a bank (financial institution) of the respective country
– Investment funds introduction statement (confirmation of foreign currency transfer, certificate of purchased foreign currency, customs declaration form and others)
Case B. Investment in Kind
– Photocopy of Investment in Kind Completion Confirmation Letter (issued by the head of Korea Customs Service)
– Photocopy of Customs Import Declaration Certificate
(6) Additional documents for individual investors who have invested less than 300 million KRW
– Any documents proving the usage of startup capitals (goods purchase receipt, office interior expenses, deposit/withdrawal account history of a Korean bank, etc.)
– Documents proving that your place of business exists (Office Lease Contract, photos of the office interior, space, signs and etc.)
– Any documents from your country to prove your work experiences in the relevant field and areas (you will need to submit these documents if deemed necessary)
⇒If your representative applies on your behalf, additional documents such as a power of attorney, a proof of current employment status and ID card of the representative are required.
※The head of an immigration (branch) office may ask additional documents if it is deemed necessary to examine genuineness of the invitation and the qualifications of the inviter and invitee.



2. You have created a business venture in accordance with the Act on Special Measures for the Promotion of Business Ventures or your business has been confirmed as a prospective business venture.
A. Basic Requirements

You are among those who have established a business venture* * with excellent technical capability, for example, by possessing an industrial property right or intellectual property right, in accordance with Subparagraph 2(c), Paragraph 1, Article 2(2) of the Act on Special Measures for the Promotion of Business Venture. Also, you have obtained a confirmation of business venture** as the CEO of a particular company or the CEO of a company that is considered to have excellent skills*** in accordance with the aforementioned act. [hereinafter referred to as ‘D-8-2 Business Venture’]
* includes a Technology Assessment Guaranteed Corporation and a prospective business venture (i.e. business venture that is in the midst of establishing process or of business registration, or business venture newly established within the past 6 months range)
** The Korea Technology Finance Corporation (Korea Technology Finance Corporation Act), the Small and Medium Business Corporations (Small and Medium Business Promotion Laws) or the Korean Venture Capital Association (Special Act on Promotion of Business Venture Firms) will confirm whether a company is a business venture or a prospective venture.
*** Assessment is given by the Korea Technology Finance Corporation (Korea Technology Finance Corporation Act ) or the Small and Medium Business Corporations (Small and Medium Business Promotion Laws)
B. Application center

Jurisdictional immigration (branch) office
REQUIRED DOCUMENTS
(1) Application for a confirmation of visa issuance (Form no. 21), a copy of passport, one standard size photograph
(2) Invitation Statement
(3) A copy of business registration, corporate certificate registration
(4) Industrial property right, any documents demonstrating that you have equivalent sills and rights to use them
⇒If your representative applies on your behalf, additional documents such as a power of attorney, a proof of current employment status and ID card of the representative are required.
※The head of an immigration (branch) office may ask additional documents if it is deemed necessary to examine genuineness of the invitation and the qualifications of the inviter and the invitee.



3. D-8-4 Technology and Business Startup visa issuance to those who have bachelor’s degrees and intellectual property rights or equivalent skills and who would like to find a technology/business start-up.
A. Basic Requirements

You have a bachelor’s degree or higher
* Degrees acquired in Korea or abroad are both acceptable. However, only the degrees that are already conferred are recognized, which means prospective graduates are NOT eligible to apply for this category.
You have an intellectual property right* or equivalent skills**
* refers to recognizable Intellectual Property Rights by Korean Laws such as the Patent Right (Patent Right Law), Utility Model Right (The Utility Model Law), Design Right (Design Protection Law), Trade Mark Right (Trade Mark Right), Copy Right (Copy Right Law) and others.
** refers to entrepreneurial items selected as the winner of government funds based on the Support for Small and Medium Enterprise Establishment Act, however, the item must be the foreign investor’s idea.
You must have completed the business registration and corporate registration after establishing a company in Korea.
B. Application center

Jurisdictional immigration (branch) office
REQUIRED DOCUMENTS
(1) Confirmation of visa issuance application form (form #21), passport, one standard size photograph
(2) Complete business registration certificate and a copy of business registration card
(3) Degree certificate or documents demonstrating that you have equivalent skills
(4) Copies of Patent Card , Utility Model Registration Card, Design Registration Card for Intellectual Property Right Holders (Candidates) only
⇒ You can use the ‘Patent Information Net Kipris’ website (www.kipris.or.kr) of the Korea Intellectual Property Office to browse whether one has an intellectual property right
– Patent candidates must submit their application verification certificates issued by the head of Korea Intellectual Property Office
– A certificate for completion or graduation of the OASIS program issued by the head of Global Investment Center designated by the Minister of Justice, award winner confirmation letter, official statement of selection, and etc.
– Other documents that can prove points earned through the Points-Based System
※The head of an immigration (branch) office may ask additional documents in order to examine genuineness of the invitation, qualifications of the inviter and the invitee.



4. Eligible Applicants for the Agreement on Simplifying Visa Procedure between the Government of the Republic of Korea and the Government of the Republic of India
A. Eligible Applicants : Employment visitors

You are a professional technician, executive, manager hired or appointed by a registered company or organization or on the basis of a contract (e.g.) intra-corporate transfers, contractual service suppliers* * or those working for the contractual service suppliers, freelance expert (independent professional*) and others
* Contractual Service Provider: refers to an employee of Indian company, who has signed a deal with a Korean company, and who is dispatched to Korea to work
* Freelance Expert (Independent Professional): refers to someone who is not affiliated with any company and who is independently hired or providing services to a company or an individual.
B. Visa types and issuance

Sojourn Status : Depending on details on contract and types of employment you will be given a D-7 Intra-Company Transferee, D-8 Corporate/Foreign Investor, D-9 International Trade, E-3 Researcher, E-4 Technological Instructor/Technician, or E-7 Foreign National of Special Ability visa
Visa issuance : a visa will be given in accordance with a confirmation of visa issuance issued by an immigration (branch) office.
※Since employment related visas are multiple-entry visas, they will be issued in accordance with a confirmation of visa issuance

REQUIRED DOCUMENTS

Common

Application for a confirmation of visa issuance (form no. 21), passport, one standard size photograph
Intra-Corporate Transferee

Dispatch order and a proof of employment which indicates that you have worked there for at least one year.
A copy of permission of branch office or contact office establishment

Contractual services
suppliers or those
supporting the suppliers

Proof of employment issued by an employer, documents related to company establishments such as business registration issued by the Government of the Republic of India
Any documents proving a service contract with a Korean company or Korean organization

Freelance Expert
(an independent
professionals)

Employment contract or other documents proving a service contract
Degree, relevant licenses, documents proving that you have at least one year experience in the related field

⇒If your representative applies on your behalf, additional documents such as a power of attorney, a proof of current employment status and ID card of the representative are required.
※The head of an immigration (branch) office may request/omit additional documents if it is deemed necessary to examine genuineness of the invitation, and the qualifications of the inviter and the invitee.


REMARKS

Case Study: regarding D-8 Corporate Investor status for individual business owner (Daegu District Court 2010GUHAP-4034)

1. Verdict Details

A complainant, who entered the Republic of Korea on a C-2 Short Term visa as a Sri Lanka national, applied for the change of status to D-8 Corporate / Foreign Investor, but his application was denied as he was not considered as an indispensable professional expert of industries of management, administration of foreign investment corporation or production, technology.
2. Complainant’s argument

The complainant has actually invested 50 million KRW and currently is engaged in wholesale or retail of automobile/appliances, therefore, he qualifies for the D-8 Corporate/Foreign Investor visa in accordance with subparagraph 17 of the special table, the Immigration Act.
3. Verdict Points

In order to qualify as a foreign corporate investment under the Foreign Investment Promotion Act, the company must be a corporate body or a company managed by a Korean national in Korea, and not only there is no legal basis that the complainant’s company is a Korean corporate body, but also the complainant is not a Korean national, but an alien. therefore, his company cannot be considered a foreigner-invested company.
⇒The Second Trial (Superior Court of Daegu, #2011NU1970, complainant appeal rejected), The Third Trial (Supreme Court #2011DU30809, complainant appeal rejected)
← End



[Title]
Eligibility, required documents and other prerequisites [D-8]



  15 →   D-9 VISA  
  14 →   D-8 VISA  
  7 →   Doing Business in Korea  
  6 →   The Sojourn Guide [D-8]  
  3 →   Obtaining D8 Visa  

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[Category]


  • retainer fee
  • consulting fee
  • Resume of Attorney LEE
  • REFUGE, ASYLUM IN KOREA
  • Self Advocacy Statement for case
  • VISA IN KOREA
  • REMOVAL, DEPORTATION
  • B VISA
  • C VISA
  • D VISA
  • E VISA
  • F VISA
  • G VISA
  • H VISA
  • STAY, EXTENSION, CHANGE OF STATUS
  • PASSPORT OF KOREA
  • ADMISSION INSPECTION INTO KOREA
  • IMMIGRATION LAW OF KOREA
  • INVESTMENT IN KOREA
  • EMPLOYMENT IN KOREA
  • NATURALIZATION IN KOREA
  • MARRIAGE IN KOREA
  • DIVORCE INTERNATIONAL
  • 통역(translation, interpretation)
  • china visa
  • Death of Aliens, Estate, Proof of Death

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