Korea's D9 Trade Visa: Spotlight on the Oasis Program

If you are an outstanding foreign trader seeking enhanced domestic stay convenience, the D9 Trade Visa presents an innovative system designed to accommodate your needs. This visa program introduces a unique scoring mechanism that evaluates trade expertise, domestic stay experiences, and more.

D9 Trade Visa

The Trade Visa is an innovative system aimed at enhancing the domestic stay convenience for outstanding foreign traders. It diversifies the eligibility criteria for obtaining a Trade Visa by scoring trade expertise, domestic stay experience, and more. The system permits the issuance of permits and changes in residence status for foreigners scoring 60 points or more out of 160, with a minimum of 10 points in essential categories and meeting specified criteria. The Trade Visa actively allows changes in residence status for long-term residents with rich domestic stay experiences, such as those with study qualifications (D-2). However, to prevent misuse for domestic residence, extension permits are granted only for individuals with trade performance.

Eligibility and Permit Criteria:

-Korean proficiency (TOPIC 3+) and a score of 60 points or more out of 160 in the Trade Visa scoring system. -Individuals must score at least 10 points in essential categories and hold a business registration certificate as an individual.

For joint representatives, the total score is divided by the number of foreigners, and only the resulting score is recognized. Business registration must be under the category of 'trade,' and a lease agreement for an independent business facility in the individual's name is required.

1. New Issuance (Issuance of Certificate of Visa Issuance and Change of Residence Status)

Example with 60 points:

• Oasis 4+ Trade Specialized Training (3 days, 10 points)
• Graduation from a Korean university (5 points)
• Study abroad experience (30 points)
• Domestic stay of 3 years or more (15 points)

Essential Categories (Maximum 65 points):

Trade Performance (Average annual performance in the last 2 years as of the application date): Up to 30 points

• Export Performance:
  • Over $300,000: 30 points
  • Over $100,000: 20 points
• Trade Performance (Export + Import):
  • Over $500,000: 15 points
  • Over $300,000: 10 points

Trade Expertise: Up to 35 points

• Trade-related work experience (1): 20 points
• Major in a trade-related field (2): 15 points
• Completion of trade specialized training (3): 10 points (1) Only one of (2) or (3) can be duplicated, applicable to those with 2 or more years of regular work experience in trade at home and abroad. (2) Completion of a trade-related major at a domestic or foreign university. (3) Recognition by the Minister of Justice for the institution and course.

Optional Categories (Maximum 95 points):

Domestic Stay Period (Calculated as of the application date): Up to 20 points

• Continuous domestic stay after foreigner registration:
  • Over 5 years: 20 points
  • Over 3 years: 15 points
  • Over 1 year: 10 points Stay without foreigner registration for more than 200 days in the last 2 years: 5 points

Education: Up to 20 points

• Ph.D.: 20 points
• Master's degree: 15 points
• Bachelor's degree: 10 points
• Associate degree: 5 points

Additional Points: Up to 55 points

• Domestic study experience (1): 30 points
• Capital of 100 million won or more (2): 15 points
• TOPIC 3 or higher or KIIP completion: 10 points (1) Foreigners who have studied for more than 2 years at a domestic university and obtained a bachelor's degree or higher. (2) Limited to funds owned by the individual related to the operation of the trade business (excluding borrowed funds, etc.).

2. Extension Permit:

Application of scores for each category during an extension permit: Trade Performance (Average annual performance in the last 2 years as of the application date):

• Export Performance:
  • Over $500,000: 30 points
  • Over $300,000: 20 points
  • Over $100,000: 15 points
  • Over $50,000: 8 points Trade Performance (Export + Import):
• Over $70,000: 5 points Recommendation letter from a specialized educational institution: 5 points (No duplication of scores between items; only the highest score is considered for each item. The recommendation letter from the head of a specialized educational institution is limited to a maximum of 4 times for the same individual.)

Domestic Employment (Applicable to those who have been continuously employed for 6 months or more as of the application date):

• Over 3 employees: 10 points
• Over 2 employees: 5 points
• Over 1 employee: 2 points

Tax Payment Record (Based on the annual individual income tax payment record issued by the National Tax Service for the previous year):

• Over 5 million won: 7 points
• $4-5 million: 5 points
• $3-4 million: 3 points
• $2-3 million: 1 point

Advanced Trade Training Course Completion: 3 points For those who have completed an advanced course approved by the Ministry of Justice within 1 year of the application date.

Extension Permit Criteria: For the first extension permit (after the issuance of the D-9-1 visa or change of residence status):

• Scores 5-10 points (1): 6 months
• Scores 11-20 points: 1 year
• Scores 21 points or more: 2 years (1) In the case of (1), the necessary item (trade performance) must score 5 points or more. For the second extension permit and beyond, those with scores of 5 points or less are not allowed an extension.

For the second extension permit:

• Scores 10 points or less: No extension
• Scores 11-30 points: 1 year
• Scores 31 points or more: 2 years

Reference: Global Startup Immigration Center

Conclusion

In conclusion, the D9 Trade Visa introduces an innovative scoring system, enhancing eligibility criteria for foreign traders and emphasizing a balanced approach to residency changes. This nuanced policy reflects a commitment to accommodating valuable contributors while safeguarding against misuse. Pearson & Partners, a Korea-focused consulting firm, stands ready to facilitate D9 Visa processes, offering expertise in incorporation, tax accounting, and visa services. For tailored support in navigating Korean business regulations, contact us.