If you're a foreign tech entrepreneur with innovative ideas and a dream of launching your startup in South Korea, the OASIS (Overall Assistance for Startup Immigration System) program could be your key to success. Run by the Global Startup Immigration Center, under the guidance of the Ministers of Justice and Small and Medium Venture Businesses, OASIS offers comprehensive support to help foreign startups thrive in Korea, along with the opportunity to secure the startup visa (D-8-4).
Tailored to help international entrepreneurs succeed in the South Korean tech scene, OASIS provides a variety of courses and resources to guide you through the visa application process and startup journey. This guide will explore the OASIS program in detail, covering its key courses and outlining how foreign tech startups can obtain the coveted D-8-4 visa. Whether you're a first-time founder or an experienced entrepreneur, this article will provide the insights you need to navigate Korea’s startup ecosystem.
OASIS Courses Overview
The OASIS program offers a range of courses to equip foreign tech startups with the skills and knowledge needed to succeed in Korea’s business environment. Here’s a breakdown of the key courses:
- OASIS-1: Basic Intellectual Property Course (15 Points)
- Objective: Introduces intellectual property basics and key startup knowledge.
- Content: Covers Korean society, immigration laws, intellectual property systems, and idea development.
- OASIS-2: Advanced Intellectual Property Course (25 Points)
- Objective: Focuses on deeper understanding and legal aspects of intellectual property.
- Content: Advanced patent processes, litigation systems, and IP strategies for startups.
- OASIS-3: Intellectual Property Application Support and Prototype Production
- Objective: Provides assistance with IP applications and financial support for patents and design registrations.
- Content: Covers application processes and commercialization of high-potential technologies.
- OASIS-4: Basic Startup Class (25 Points)
- Objective: Provides foundational startup knowledge, including immigration laws, tax systems, and business management.
- Content: Topics range from marketing to business plan creation and legal requirements for startups.
- OASIS-5: Startup Coaching & Mentoring (15 Points)
- Objective: Offers professional guidance on startup operations, including location selection and market analysis.
- Content: One-on-one mentoring sessions and site visits.
- OASIS-6: Invention & Startup Exhibition (25 Points)
- Objective: Offers opportunities for startups to promote their IP and connect with investors.
- Content: Participation in exhibitions, investor networking, and technology promotion.
- OASIS-7: Graduation from Startup Incubation (15 Points)
- Objective: Provides a stable environment for startups, offering workspace after completing incubation.
- Content: Access to workspace for startups that have completed the IP and incubation support programs.
- OASIS-8: Support for Corporation Establishment (15 Points)
- Objective: Assists with the legal process of establishing a corporation in Korea, crucial for securing the D-8-4 visa.
- Content: Corporate registration and administrative support.
- OASIS-9: Support for Startup Commercialization (25 Points)
- Objective: Helps startups with initial commercialization and R&D efforts.
- Content: Covers costs for commercialization, R&D, and post-launch support.
Requirements for the D-8-4 Visa
To qualify for the D-8-4 startup visa, foreign entrepreneurs must meet the following criteria:
- Educational Requirement: A Bachelor’s or Associate’s degree (if obtained in Korea) or a Global Startup Immigration Center recommendation letter.
- 80-Point Minimum: Earn at least 80 points, which can be accumulated through OASIS courses, IP applications, and related activities.
- Corporation Establishment: Establish a legal business entity in South Korea.
Steps to Obtain the D-8-4 Visa via OASIS
- Enter Korea on a Short-term Visa.
- Complete OASIS Courses: Participate in key courses such as OASIS-1 and OASIS-4 to accumulate points.
- Change Visa to D-10-2: Once you complete the courses, apply for a D-10-2 visa, allowing you to stay in Korea while preparing your startup.
- Establish a Corporation: Set up your business legally in South Korea.
- Submit IP Applications: If applicable, begin the process of securing intellectual property rights.
- Earn 80 Points: Accumulate at least 80 points through course completion, IP work, and other qualifying activities.
- Apply for the D-8-4 Visa: After meeting the point and corporate establishment requirements, change your visa status to D-8-4, allowing you to operate your startup in South Korea.
Conclusion
The OASIS program is a powerful resource for foreign tech entrepreneurs aiming to establish a startup in South Korea. By offering a startup visa (D-8-4) and comprehensive courses, the program provides essential knowledge and support to help you thrive in Korea’s tech ecosystem. Pearson & Partners can assist you throughout the process, from incorporation to securing your visa. Contact us to begin your entrepreneurial journey in South Korea.