permission to change the status of residence in F-2
Foreign or corporate executives, shareholders, and their accompanying families who have invested more than the standard amount in the investment target set by the Minister of Justice are eligible for residence (F-2).
If you maintain your investment for more than five years as a residence (F-2), you will be granted permanent residence (F-5) status according to certain criteria.
If you wish to visit from time to time without living in Korea, you will receive a three-year multiple visa (C-3) to provide convenience in entry and exit.
Classification by Type
Principal guarantee and interest-free type
A method in which foreigners deposit more than the standard amount in a fund established by the Financial Services Commission, established under the Act of the Korea Policy Finance Corporation) entrusted by the Ministry of Justice.
The amount deposited is financed by the Korea Policy Finance Corporation at a low-interest rate to small and medium-sized enterprises.
Profit and loss type
A method in which foreigners invest more than the standard amount in development projects promoted in underdeveloped areas designated and publicly announced by the Minister of Justice in consultation with relevant ministries
The "New Development Area Development Promotion Zone" (four projects in Yeongju, Andong, and Yecheon) under the Special Act on the Promotion of Investment in Developing New Development Areas and the "Tourism and Leisure-type Enterprise City" under the Special Act on Enterprise Urban Development (two districts in Yeongam, Haenam, and Taean)
Classification according to investment amount
1) General investment immigration (implemented in May 2013): 500 million won or more > 1.5 billion won or more
2) Retirement investment immigration of 55 years of age or older (implemented in May 2013): 300 million won or more > Abolition
In addition to the investment, the domestic and foreign assets of the person and spouse will be more than 300 million won when acquiring the residence status (F-2), and the domestic assets will be more than 300 million won when the residence status is changed
Linked to the real estate investment immigration system: Recognized even if the sum of the amount invested in the real estate investment immigration system and the amount invested in the public service investment immigration system above is more than the standard amount of investment in the relevant real estate investment immigration system
3) High investment immigration system (implemented in October 2014): KRW 1.5 billion or more > KRW 3 billion or more
From June 29, 2023, the standard amount of the public service investment immigration system has been raised.
Also, please note that the retirement investment immigration system has been abolished.
Processing procedures
① entry into the country
② Pre-screening / guidance
③ Application for Change of Status of Stay
④ Change of residence (F-2)
⑤ Application for Change of Eligibility for Permanent Resident F-5 (after 5 years)
Place of application and documents to be submitted
Seoul Immigration and Foreigner's Office: Foreigners deposited in the Korea Development Bank
competent immigration office: foreigners who have invested in development projects
(Application documents)
① Application (attached Form 34), a copy of passport, photographs, and fees
② Evidence of payment of investment: Investment confirmation, account transfer statement, etc. with the seal of the head of the investment attracting institution
③ Evidence documents related to foreign currency import: Foreign exchange purchase certificate, overseas remittance receipt, remittance fact certificate, etc
④ Family relationship certificate: Submission only when applying for a change of qualifications of an investor's spouse or unmarried child
⑤ Documents proving assets of 300 million won or more (domestic and foreign assets such as deposits and real estate) for retired investment immigrants
※ If you are a single child, you need documents proving that you are single.
⑥ Documents proving that an individual has transferred or paid the investment to the corporation in the name of the relevant investor abroad if he/she has invested through a corporation
⑦ In the case of an executive or shareholder of a corporation, an official letter of the corporation stating documents proving that he/she is an incumbent executive or an oligopoly shareholder of the invested corporation and a list of parties
Application for extension of stay
The foreigner must maintain the investment status without eroding the investment base amount.
In the case of profit or loss, it is considered to have maintained the investment status unless the investor recovers the investment amount, even if a loss occurs as a result of the investment operation of the investment attracting institution.
(Application documents)
① an application form
② Passport (copy), alien registration card
③ Fees
④ Documents proving that the investment is maintained: Confirmation of the seal of the head of the investment attracting institution issued within the last five days, etc
⑤ Family relationship certificate (for accompanying families)
Apply to the immigration/foreigner's office (office/business office) having jurisdiction over the place of stay by attaching the above documents before the expiration date of stay
⑥ Attached are documents proving that the status of corporate executives and shareholders at the time of qualification change is maintained (official document under the name of the relevant corporation, employment certificate, stock equity confirmation data, etc.)
⑦ Documents proving the place of stay (rental contract, confirmation of accommodation provision, notice of expiration of the period of stay, mail, receipt of payment of utility bills, receipt of dormitory expenses, etc.)
