Today, we will explore the F-5-10 visa, specifically designed for those who have studied in Korea and obtained a bachelor's degree or higher, including relevant certifications, provided that certain requirements are met.
I have previously assisted in establishing a foreign-invested company and obtaining a D-8 investor visa.
One of my clients had invested over 300 million won in foreign currency in an existing Korean corporation, obtained a certificate of foreign-invested enterprise registration, and invited the representative of that corporation (D-8) along with their spouse and children (F-3).
The client, a Ph.D. from Iran who had originally worked as a co-representative in the foreign-invested company, faced challenges due to sanctions against Iranian nationals conducting financial activities in Korea. Despite multiple attempts to renounce Iranian citizenship at the Iranian Embassy in Korea, was rejected.
※ Although the details are not certain, individuals with Iranian nationality are known to face significant sanctions when engaging in financial activities in Korea. There are even restrictions for obtaining installment plans for purchasing vehicles due to Iranian nationality.
the client wanted to acquire Korean citizenship to renounce Iranian citizenship promptly. However, the rules changed to a residence-to-residence system after 2019, requiring them to first obtain permanent residency before applying for citizenship.
※In the case of general naturalization requiring more than 5 years of domestic residence, the principle of prior acquisition of permanent residency is applied. In other words, after obtaining permanent residency, one can apply for citizenship.
The applicant holds a doctoral degree from Sungkyunkwan University, has resided in Korea for over 10 years, and possesses an F-2-7 visa. The income requirement is also sufficient for applying for permanent residency.
Now, let's examine the requirements for individuals with an Bachelor's degree or higher degree to apply for permanent residency in Korea under the F-5-10 visa.
Requirements for Permanent Residency for F-5-10 Visa Holders with a Bachelor's or Master's Degree
※ All of the following criteria must be met for eligibility
1.Income Requirement: Gross National Income (GNI) of at least 1 times (40,490,000 KRW) - This refers to the income amount specified in the income certificate.
2. Basic Living Requirement: A comprehensive assessment score of 60 or more for permanent residency, or completion of the KIIP Social Integration Program Level 5.
3. Educational Requirement
※ Possession of one or more of the following degrees or qualifications
1. Bachelor's degree or higher in the field of advanced technology
※ (regardless of the country)
※ Advanced technology fields include IT, technology management, nano, digital electronics, bio, transportation and machinery, new materials, environment, and energy, among others.
2. Completion of a regular course in a domestic university resulting in a bachelor's degree or higher in science and engineering.
3. Completion of a regular course in a domestic university resulting in a master's degree or higher.
4. Qualifications issued by the Korean Industrial Human Resources Development Center (HRD Korea) or equivalent qualifications
※ Equivalent qualifications recognized by the Korean government through Mutual Recognition Agreements (MRA).
4. Residency Period Requirement
1. For those who obtained a foreign degree or qualification, continuous residence and work in the relevant field in Korea for more than 3 years are required.
2. For those who obtained a domestic degree, continuous residence in Korea for more than 3 years after obtaining the degree is required.
※ Continuous residence in Korea for more than 3 years before the application date. Past periods of complete departure are excluded.
5. Work Experience Requirement
◆ At the time of application, working as a regular employee for more than 1 year in a domestic company
※ In the case of a change in the workplace, the work period at the previous workplace can also be included in the calculation
- For those who obtained a foreign degree or qualification, work in the field related to the degree or qualification is required
- No restriction on the field of work for those who obtained a domestic degree
6. Conduct and Discipline Requirement (Criminal Record)
※ Conduct and Discipline Requirement (Criminal Record)
1. A person who has not yet passed 5 years since the completion of a sentence of imprisonment of one year or more.
2. A person who has not yet passed 3 years since the imposition of a fine
3. A person who has violated Article 7(1) or (4) of the Immigration Control Act and has not yet passed 5 years.
4. A person who has violated the Immigration Control Act three or more times in the five years prior to the application date, excluding fines.
5. A person who has not yet passed 7 years since receiving an expulsion order or 5 years since leaving the country after receiving a departure order.
6. A person who has been sentenced to imprisonment for a crime equivalent to threats, extortion, fraud, voice phishing, drug crimes, or similar offenses overseas, confirmed through a certificate of overseas criminal record.
7. A person who has received fines of 5,000,000 KRW or more for violating the Immigration Control Act in the last 3 years, or whose total fines amount to 7 million KRW or more.