ISPB Public Business Investment Immigration Program
▶ If the investor meets the minimum investment amount for a public project designated by the Minister of Justice, the investor (foreign national or corporate executive), their spouse, and unmarried children are granted F-2 residence status, allowing unrestricted activities such as entry, employment, business, and study in Korea. After maintaining the investment for five years, permanent residence (F-5) status is granted based on certain criteria.
※ For those wishing not to reside but visit periodically, a three-year multiple-entry visa (C-3) is issued to facilitate entry.
IISPB Public Business Investment Types
1. Principal Guaranteed, Interest-Free Type
- Funds are deposited into a public fund managed by the Korea Development Bank as designated by the Ministry of Justice.
- The deposited funds are used by the Korea Development Bank to provide low-interest loans to SMEs.
2. Profit/Loss Investment Type
- Investment in regional development projects designated and notified by the Minister of Justice in consultation with relevant ministries.
Types of IISPB Public Business Investment Immigration
1. General Investment Immigration (F-2-12) - Investment of 1.5 billion KRW or more - Grants F-2 residence status and F-5 permanent residence upon maintaining the investment for five years - The investment may be withdrawn after obtaining permanent residency ※ Early withdrawal results in visa cancellation |
2. Conditional High-Value Investor Permanent Residency (F-5-25) - Investment of 3 billion KRW or more - Grants F-5 permanent residence immediately - Commitment to maintaining the investment for at least five years - The investment may be withdrawn after five years ※ Early withdrawal results in permanent residence cancellation ※ Only available for principal guaranteed, interest-free type |
※ If the combined investment in tourism and leisure facilities under the Investment Immigration Program and public interest projects exceeds KRW 1.5 billion, it is also recognized.
※ A minimum deposit of 5 million KRW must be made with the Korea Development Bank
IISPB Public Business Investment Visa Application Procedure
1. Pre-Investment Review (at the airport) - The investor must undergo the review in person with their passport |
2. Opening a Bank Account in the Investor's Name (at a foreign exchange bank) - Requires the passport, foreign ID, and pre-review application form |
3. Fund Transfer - It is not necessary for the investor to transfer the funds personally; a third party can also make the transfer - Requires foreign exchange transaction certificates for direct deposits |
4. General Investment Immigration (KRW 1.5 billion): Apply for F-2 Residency High-value investors (KRW 3 billion): Apply for F-5 Permanent Residency (at the Immigration Office) |
5. After maintaining the investment for 5 years, change to F-5 permanent residency (only for F-2 holders), and the investment can then be withdrawn |
※ Investors must undergo preliminary investment screening personally. Even if the investor resides overseas, they must visit Korea at least once. Subsequent processes can be completed with a notarized power of attorney.
F-2-12 Public Business Investment Visa Application Required Documents
① Application form, passport copy, photo, and fee |
② Documentation verifying investment payment (investment confirmation with the seal of the investment attraction institution head, account transfer statements, etc.) |
③ Proof of foreign currency transfer (documents issued by a public interest investment-designated bank, such as telegraphic transfer reports, foreign exchange purchase certificates, credit card payment confirmations for investments linked to the tourism and leisure facility investment program, copies of the front of the credit card, transaction receipts, and payment receipts from the sales company) |
④ Family relationship certificate (for spouse or unmarried children when applying for transfer or status change) |
⑤ Documents proving that the investment was transferred or paid in the investor's name from abroad to a corporation (for cases where the individual invested through a corporation) |
⑥ Documents proving that the investor is a current executive or significant shareholder in the invested corporation, along with an official letter from the corporation listing the involved parties (for executives or shareholders in the corporation) |
⑦ Criminal background check issued by the country of nationality or residence (must be issued within 6 months of the application date) |
NOTE !!
- Visa applicants must not have any disqualifying factors such as violations of domestic laws. - For those granted a visa and residing overseas, F-2 (residency) holders must enter Korea at least once a year, and F-5 (permanent residency) holders must enter at least once every two years to maintain their visa status. - Investment funds derived from legally generated income or the sale of assets located in Korea may be exceptionally recognized. ※ Funds directly reinvested from the sale of domestic income or assets, or those reintroduced after being transferred abroad, are recognized. However, funds derived from illegal stays or the assets or overseas funds based on such income will not be recognized under any circumstances. |
IISRE Real Estate (Tourism and Leisure Facility) Investment Immigration Program
▶ If a foreign investor invests at or above the minimum amount in designated real estate (tourism and leisure facilities) by the Minister of Justice, the investor (foreign national or corporate executive), their spouse, and unmarried children are granted F-2 residence status, allowing unrestricted activities such as entry, employment, business, and study in Korea. After maintaining the investment for five years, permanent residence (F-5) status is granted based on certain criteria.
IISRE Real Estate (Tourism and Leisure Facilities) Investment Immigration Designated by the Minister of Justice
Investment Regions | Targets | Amounts |
Yeosu, Hwayang District (Jeollanam-do) | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 700 million KRW or more |
Jeongdongjin District, Gangneung (Gangwon-do) | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 700 million KRW or more |
Haeundae Tourism Resort, East Busan Tourism Complex | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 1 billion KRW or more |
Gyeongdo Maritime Tourism Complex (Yeosu, Jeollanam-do) | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 1 billion KRW or more |
Jeju Special Self-Governing Province | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 1 billion KRW or more |
Songdo International City, Yeongjong District, Cheongna International City (Incheon Free Economic Zone) | Resort Condominiums, Tourist Pensions, General Accommodation Facilities, Residential Accommodation Facilities, and Housing Linked to Sports Facilities | 1 billion KRW or more |
Alpensia (Pyeongchang, Gangwon-do) | Vacation Condominiums, Tourist Pensions, General and Residential Lodging Facilities | 1 billion KRW or more |
IISRE Real Estate (Tourism and Leisure Facilities) Investment Immigration Program - Detailed Information
1. Eligibility (Investing Foreigners) - Those who have completed ownership registration for investment facilities - Those who have obtained membership qualifications for investment facilities such as condominiums - Linked investors: High-value real estate investors who sign a contract with a single property whose sale price exceeds the minimum investment amount set by the public interest investment immigration program, pay the deposit, and deposit at least 40% of the remaining balance with Korea Development Bank. The sum of the deposit and the escrow amount must meet or exceed the general investment immigration program requirements (linked investment in progress) |
2.2. If the combined investment in real estate (tourism and leisure facilities) and public interest business exceeds KRW 1.5 billion, F-2 status is granted |
3. Investments in real estate and public interest businesses can count toward the required 5-year investment period for F-5 permanent residency |
4. Foreigners who have invested at least KRW 100 million as a deposit or installment payment are eligible for F-1 (visitor) status. Upon completion of the full investment, their visa can be upgraded to F-2 ※ Failure to invest an additional KRW 100 million within a year of obtaining F-1 status may result in visa termination |
5. If investment capital is withdrawn before acquiring F-5 permanent residency (e.g., selling real estate, contract cancellations, membership transfers), the visa will become invalid, and the individual must leave Korea within 3 months unless special circumstances apply |
IISRE Real Estate (Tourism and Leisure Facilities) Investment Visa Application Process
1. Preliminary screening at the immigration office responsible for the investment location |
2. Application for foreigner real estate registration number (Seoul Immigration Office) |
3. Real estate contract and reporting to the relevant local city/county/district office |
4. Declaration of real estate acquisition to a foreign exchange bank and opening an account in the investor's name |
5. Transfer of investment funds |
6. Reporting of real estate acquisition to the relevant local city/county/district office |
7. Registration of real estate at the registry office |
8. Application for F-2 residency visa at the local immigration office |
9. After maintaining the investment for 5 years, the visa can be upgraded to F-5 permanent residency, after which the investment capital may be withdrawn |
※ The investor must undergo the preliminary investment screening personally. If the investor resides abroad, they must visit Korea at least once to complete the process. Subsequent procedures can be delegated with notarized authorization
Required Documents for Real Estate (Tourism and Leisure Facilities) Investment Visa (F-2-8)
① Application form, passport, alien registration card (if applicable), one standard passport photo, processing fee |
② Real estate sales contract and real estate registration certificate (for F-2 applicants only) |
③ Membership certificate issued by the (Korean Condominium Association), membership verification from the sales company, and receipt (if applicable) |
④ Vacancy certificate for unsold housing (if applicable) |
⑤ Residential family records for the relevant housing (issued by the local office, valid for 5 days) |
⑥ Proof of Foreign Exchange Transfer (Documents such as telegraphic transfer details issued by domestic foreign exchange banks, foreign exchange purchase certificates, and for card payments, payment information confirmation issued by the bank, front copies of credit cards, transaction receipts, and deposit receipts from the sales company) |
⑦ Additional documents proving that investment funds were transferred or paid under the investor's name abroad to a corporation (applicable for indirect investments through a corporation) |
⑧ Documents proving the current position of the investor as an executive or majority shareholder of the invested corporation, along with an official statement listing the names of all relevant individuals (applicable for corporate executives or shareholders) |
⑨ Family Relationship Certificate (for the transfer of funds or application for status change for spouses and unmarried children) ※ For adult children, documents confirming unmarried status are required |
⑩ Criminal Record Certificate from the home or residence country (issued within six months of the application date) |
NOTE !!
- Applicants must not have disqualifying factors such as violations of domestic laws. - For visa holders residing abroad, F-2 (residency) status holders must enter Korea at least once a year, and F-5 (permanent residency) holders must enter at least once every two years to maintain their visa status. - Investments derived from legally earned income or the sale of domestic assets may be exceptionally recognized ※ Proceeds from the sale of domestic income or assets reinvested directly or funds reintroduced after being sent abroad are recognized. However, any income or assets derived from illegal residency or based on such income, whether domestic or overseas, will not be recognized under any circumstances - The sold or invested facilities must not be used for profit-generating activities such as rental, mortgage, or seizure. |
