The major requirements for the visa are:
1. Intellectual Property registered in Korea (yes registered in Korea-overseas is not good enough);
2. A Korean company; and a
3. University degree.
We suggest, also, having a business plan. We are not sure how this visa is more beneficial than the D-8 Investment visa. We assume the, only, advantage (since little information exists) is that you do not need the KRW 100,000,000 capitalization ((Foreign-capital invested company). The visa is new and we and seemingly, also, Korean Immigration is not sure of how this visa will assist in encouraging foreign start-ups to invest in Korea. I would assume most start-ups with intellectual property registered in Korea would have the KRW 100,000,000 required for a D-8 visa and a foreign-capital invested company.
We will update the reader when more information is known.
Other articles that may be of interest:
- Visa for Investors in Korea
- Korean Investor Visas for Foreigners
- Sean Hayes Quoted by Korean Times on D-8 Investment Visa
Sean Hayes may be contacted for a consultation by emailing him at: [email protected] or via the numbers shown to the left.
Sean Hayes is co-chair of the Korea Practice Team at IPG Legal. He is the first non-Korean attorney to have worked for the Korean court system (Constitutional Court of Korea) and one of the first non-Koreans to be a regular member of a Korean law faculty. He assists clients in their contentious, non-contentious and business developments needs in Korea and China. He has, recently, been ranked as one of only two non-Korean attorneys as a Top Attorney working in Korea by AsiaLaw.
- Changes to the Korean Immigration System means more Opportunities for Single Parents to Work in Korea
- Establishing Business with Korea via an Agent: Korean Agency Law Basics
- Amendment to the Korean Immigration Act Supports Foreign Children in Cases of Child Abuse
- Korean Immigration Law’s 20% Rule Challenged
- Witholdings Taxes on Transactions between Korean & Hong Kong Companies
- Mandatory Registration of Long-term Trips Abroad – Korean Registration of Korean Nationals Residing Abroad Act of 2019
- Korean Immigration Law: Challenging a Korean Immigration Deportation/Exit Order in Korea
- Famed South Korean Golfer Ordered to Complete Military Service
- English-speaking Korean lawyers and International Lawyers at International Law Firm in Korea discussing issues of Korean Law
- Korea’s New Electronic Passport Without Resident Registration Number in 2020