Most people think of the D-8 when they hear about a foreign investment visa.
The investment visa (D-8) is a visa obtained by a corporation or individual who becomes the main party to establish a corporation, increase capital, acquire stocks, etc., through investment.
Today, we will look at other types of investment visas, the D-9 visa (Trade Management), which a foreign individual can receive when they want to do business in the Republic of Korea, and specifically the D-9-4 visa, which allows business with an investment of 300 million won, and the D-9-5 visa, which allows students (masters or higher) in Korea to do business with an investment of 100 million won.
First, the types of D-9 visas (Trade Management) are classified as follows
-D-9-1: Trade dealers who have been given a unique trade number (by the Trade Association)
-D-9-2: Installation, operation, and maintenance of export facilities (machinery)
-D-9-3: Supervision of shipbuilding, equipment manufacturing
-D-9-4: Company management and profit-making business operators
-D-9-5: Trade managers originating from international students
The D-9-4 visa (Company management and profit-making business operators) and D-9-5 (Trade managers originating from international students) are visas that allow foreigners to freely participate in business as individual business operators without the need for corporate establishment registration.
Depending on the management performance, you can receive a stay period of up to two years at a time.
Usually, the initial stay period is about one year for most. After that, you extend the period.
First, let's look at the targets and requirements for changing the status of residence to D-9-4 or D-9-5 for foreigners residing in Korea, as well as the visa issuance procedure and required documents.
Targets and Requirements for the D-9-4 Visa (Company Management and Profit-Making Business Operators)
◆ Individual business operators who wish to manage a company or engage in profit-making business in Korea, having registered as a business operator according to the "Value-Added Tax Act" and introduced foreign capital of 300 million won or more according to the "Foreign Exchange Transactions Act" and "Foreign Exchange Transactions Regulations"
◆ Individual business operators who have invested 300 million won or more in Korea according to the "Foreign Investment Promotion Act" and received an investment business registration certificate
◆ Individual business operators who were residing with corporate investment (D-8) status before the implementation date
※ Possible even if the existing investment amount is less than 300 million won. However, if the corporate investment (D-8) status is lost due to reasons such as the expiration of the re-entry period, the capital requirement of 300 million won must be met like new business operators
Targets and Requirements for the D-9-5 Visa (Trade Managers Originating from International Students)
◆ Those who have obtained (or are expected to obtain) a master's degree or higher from a domestic university, have invested 100 million won or more after registering as a business operator according to the "Value-Added Tax Act," and wish to manage a company or engage in profit-making business in Korea
※ Up to 50 million won of the investment funds can be recognized as funds formed in Korea, but the rest must be foreign capital according to the "Foreign Exchange Transactions Act" and "Foreign Exchange Transactions Regulations"
※ However, if you are (or are expected to be) a bachelor's degree holder from a domestic university and have obtained a total of 40 points or more in the 'OASIS-1 to 8' comprehensive support system for startup immigration, it is allowed
≪ Residence Qualifications Excluded from Status Change ≫
Technical Training (D-3), Non-Professional Employment (E-9), Seafarer Employment (E-10), Others (G-1), Pure Tourism and Group Tourism (C-3-2), Medical Tourism (C-3-3), Tourism Employment (H-1)*, Visit Employment (H-2) *Tourism Employment (H-1) is not allowed for nationals of countries that do not permit status changes under the agreement (France, Ireland, UK) |
Issuance Procedure for the D-9-4 Visa (Company Management and Profit-Making Business Operators)
1. The foreign investor must report the foreign investment directly or through an agent to KOTRA or a foreign exchange bank.
2. After reporting the investment, open a virtual account and transfer at least 300 million won (in foreign currency) to the virtual account in your name (the sender and recipient's names must be the same).
※If the names are not the same, the transfer may not proceed and the money may be returned to the account in the home country.
In addition, if it is difficult to transfer a minimum of 300 million won, you can enter the country carrying the foreign currency, but you must report the foreign investment purpose funds.
※ Later, when applying for a visa, a foreign currency purchase certificate is needed.
3. If a business license is required for the business type, you must register for the license (a lease contract for the business place is needed).
4. Apply for business registration at the competent tax office and receive a business registration certificate.
5. Open a bank account in the name of the business operator and transfer the invested foreign currency.
6. Initially, report to the investment reporting office and receive a foreign investment company registration certificate.
7. Apply for a D9 visa at the competent immigration office.
① Integrated application form, passport, fee
② Copy of business registration certificate, business license (if applicable), foreign investment company registration certificate (if possessed)
③ Original and copy of joint business agreement (if applicable)
④ Annual income proof documents of joint business partners (if applicable) ⑤ Documents proving the introduction of business funds (transfer confirmation certificate, foreign currency purchase certificate, customs declaration, export declaration from the relevant tax office, etc.) ⑥ Documents proving the use of capital (receipts for goods purchases, office interior costs, bank account deposit and withdrawal statements, etc.)
※ For the capital formed in Korea by the student trade manager (D-9-5), the investment amount is calculated by combining the individual's balance certificate or capital use details. ⑦ OASIS training completion certificate (if applicable) ⑧ Business performance proof documents (export/import clearance certificates, VAT preliminary or final return, etc.)
※ Applicable only if you have engaged in business activities while holding a short-term visa (C-3-4) before changing the residence status. ⑨ Proof of residence documents (lease contract, proof of rent payment, etc.)
⑩ Proof of business place existence (lease contract, photos of business place/office space/signboard, etc.)
※ Short-term leases (less than 6 months), residential leases, and online business places are generally not recognized, but exceptions are allowed in cases where it is inevitable due to the nature of the business (warehouse lease contract, etc.)
Recently, there have been various inquiries related to foreign investment visas D8 and D9.
Even if not for other visas, the procedures, complexity, and risks (such as financial loss if the visa issuance is denied) associated with foreign investment visas D8 and D9 are greater, so each individual must carefully check their own conditions one by one.
Therefore, due to the limitations of telephone consultations, we primarily conduct in-person consultations.
If you would like a consultation, please make a reservation by phone first, and then visit our office.