If you are an individual working for a foreign company engaged in trade or investment activities with Korean businesses, the Korea D-8 visa stands as a crucial category. This visa offers a temporary work opportunity in Korea without the requirement of obtaining permanent residency. Here's a comprehensive overview of the eligibility criteria, issuance conditions, permitted activities, and detailed eligibility for continued stay under the D-8 visa:
Eligibility Criteria for D-8 Visa (Corporate Investor Visa):
Investors:
- Individuals who have invested in corporations within South Korea.
- Founders or prospective founders of innovative venture companies.
- Investors contributing to companies under the management of South Korean citizens.
- Individuals possessing a bachelor's degree or higher, specializing in the fields of technology and entrepreneurship.
Issuance Conditions:
- Essential Professionals: Those actively involved in the fields of management, administration, production, or technology.
- Dispatched Employees: Individuals sent from an overseas parent company to contribute to a foreign-invested entity.
- Investment: Individuals bringing in funds amounting to KRW 100 million or more from abroad, with the intention of establishing and operating a corporation.
Authority for Application Processing:
The application for the D-8 visa is processed by the immigration office with jurisdiction over the applicant's residence or the location of the foreign-invested company.
Permitted Activities:
Holders of the D-8 visa are authorized to:
- Oversee and direct activities within foreign-invested enterprises.
- Engage in venture investment and spearhead technology startups.
Detailed Eligibility for Continued Stay:
- D-8-1 (Incorporated Enterprise): This category allows individuals to participate in the manufacturing, technology, or management aspects of a foreign-invested Korean corporation.
- D-8-2 (Business Venture): Reserved for representatives of venture companies recognized for their outstanding technological contributions.
- D-8-3 (Unincorporated Enterprise): This category permits individuals to contribute to the administration, management, production, or technology of foreign-invested companies.
- D-8-4 (Technology and Business Startup): Qualifications for this category include holding a degree of at least an associate degree domestically (or a bachelor's degree internationally) and receiving recommendations from relevant administrative agencies.
Conclusion
In summary, the D-8 visa in Korea is a vital avenue for individuals engaged in trade or investment with Korean businesses, offering temporary work opportunities without the need for permanent residency. The visa's eligibility criteria cater to investors, founders of innovative ventures, and individuals with specialized expertise in technology and entrepreneurship, aligning with South Korea's economic objectives.
Pearson & Partners, specializing in incorporation and D-8 visa acquisition, provides invaluable support for navigating the complexities of legal procedures. Contact us for tailored assistance in your corporate endeavors.