F-2 CHANGE OF STATUS

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1. You are allowed to change your status to a foreign child of a Korean national A. Eligible Applicants: ① A foreign child of a Korean national who is underage ② A child born between a foreign national and a Korean national (including the de facto marriage) ※ In the past, those who have become naturalized as a result of marriage with a Korean national or an underage foreign child of an overseas Korean who has reinstated Korean nationality, F-1 family visitation visa and status will be given. ※ A person with multiple nationality including Korean citizenship will be regulated by the "Guidelines for the Entry/Exit and Stay of a Person with Multiple Nationalities." B. Effective Date: March 15th, 2011 □ Residence (F-2-2, an adult child of a Korean national) Visa․Administrative Guidelines for Status of Stay Foreign child of a Korean national, who is NOT qualified for the issuance of a F-2-2 Residence visa and change of status - You are restricted from a F-4 Overseas Korean visa since you have abandoned Korean nationality to avoid the military service obligation. ※ Guidelines on Granting Overseas Koreans Status C. Required Documents ① Visa application form (enclosed form #34), passport, one standard-size photograph, fee ※ A foreign child of a Korean national who is on a F-1-1 Family Visitation visa will be changed to F-2-2 Residential status immediately after confirmation (fees are exempted) ② Documents proving family relationship and the custodianship between a Korean national and a respective underage child (i.e. divorce sentencing and others) ※ If you cannot prove that you have the right of custodianship, then you must submit a consent by a ‘person with parental rights' or a ’guardian' (If there is no 'person with parental rights or a guardian', then you must submit official documents or notarial documents that can prove the fact relationship.) ③ Documents proving that you are a foreign-born child of a Korean national - Birth Certificate, Population Registry and others ④ Resident registration of children and Resident Identification Card ⑤ Basic certificate of parents, a certificate proving family relation, resident registration ⑥ Personal reference letter (Father or Mother who has a right to raise a kid) 2. A spouse of a permanent resident status holder is allowed to change his/her status to Resident. A. Eligible Applicants: - A person who legally stays in Korea and intends to change his/her status of sojourn to F-2-3 (a spouse of a permanent resident (F-5) status holder) - The following persons must apply for a visa to a diplomatic mission (not eligible for the change of sojourn status). 1. A person who illegally stays in Korea (including an illegal entrant and forged/altered passport holder) 2. A person whose departure deadline is extended pursuant to Article 33 of the Enforcement Rule of the Immigration Control Act 3. A person with criminal records (excluding fines) 4. A person not allowed for the change of sojourn status according to individual guidelines (e.g. E-9 status holders) 5. A person who entered Korea on a short-term visa (including B-1 and B-2) and married a Korean national ※ However, a German national who entered Korea on International Agreement (B-1) status may apply for the change of sojourn status (grounds: MOU between the Republic of Korea and Germany signed on Dec. 10, 2004) B. Required Documents ① Visa application form (enclosed form #34), passport, one standard-size photograph, fee ② Reference Letter of a Korean spouse ③ Documents confirming your place of residence ④ Invitation Letter (form 1) ⑤ Marriage Statement (form 2) ⑥ Documents proving the marriage relationship from both countries - Marriage certificate, any certificate proving family relations, etc. ⑦ Documents proving your financial ability (an income certificate issued by a tax office, etc.) ⑧ Credit report of the inviter (issued by the Korea Federation of Banks) ⑨ ‘A certificate of criminal records’ of the respective party of marriage (issued by the jurisdictional authority of a country of origin or a country where he/she resides) ※ If the inviter has already submitted a criminal record certificate when applying for Permanent Resident (F-5) status, he/she does not need to re-submit it. However, if he/she had stayed in another country for six months or more after acquiring F-5 status, a criminal record certificate issued by the country’s government must be submitted. ⑩ A medical examination report of the respective party of marriage - A medical examination report issued by a hospital-level medical institution in accordance with Article 3 (2) 3 of the Medical Service Act or by a local health center in accordance with Article 7 of the Regional Public Health Act. However, a foreign spouse can substitute the document with similar paper accepted by the health department of a country of origin or a country where he/she resides. ⑪ If you were married before, you must provide documents proving the dissolution of the marriage (e.g. divorce certificate) 3. You are allowed to change your status if you have been granted refugee status. ① Visa application form (enclosed form #34), passport and alien registration card, one standard-size photograph, fee ② A certificate of refugee recognition 4. Investors who have made large amounts of investments are allowed to change their status A. Basis : F-2 Residence status management guideline for foreign investors B. Eligible Applicants: An applicant who meets any of the conditions below in accordance with the ｢Foreign Investment Promotion Act｣ You have invested at least US$500,000 as a foreign investor who has been staying in Korea for at least 3 years on a D-8 Corporate Investment visa - Required Documents: ① Visa application form (enclosed form #34), passport and alien registration card, fee ② Photocopy of investment company registration You are an executive of a foreign corporation who has invested at least $500,000 in accordance with the「Foreign Investment Promotion Act」and has been staying in the RoK for at least 3 years - Required Documents: ① Visa application form (enclosed form #3), passport and alien registration card, fee ② Dispatch order for overseas assignment or proof of enrollment or certificate of income amount (for the past 3 years) You have invested at least US$300,000 and hired at least 2 Korean nationals - Required Documents: ① Visa application form (enclosed form #34), passport, fee ② Foreign investment declaration form or a photocopy of corporate investor registration certificate ③ Employment contract for an employee or certificate of income amount 5. Permission for Visa Status Change of Foreign-Skilled Workers A. Basis: F-2 Residence status management guideline for foreign skilled-workers - revised on December 7th, 2011.12.07 Ministry of Justice Order #843(introduced on December 1st, 2007) B. Eligible applicants for visa status change A person who meets all requirements below ① You want to engage in employment on an E-9 Non-professional․E-10 Maritime Crew or H-2 Work and Visit visa at the time of application. ② You have been engaged in employment in manufacturing, construction, agriculture or fishery for at least 4 years on a D-3 Industrial Trainee, E-8 Trainee Employment, E-9 Non-professional, E-10 Maritime Crew (including ‘coastwise crew’ status) or H-2 Work and Visit in the past 10 years. 《How to Calculate the Total Period of Employment (4 years)》 ① Past employment period through a D-4 General Trainee, E-9 Non-Professional, Maritime Crew (E-10, including ‘coastwise crew’ status) are combined to calculate to the total period of employment. ② Also, if you have re-entered the RoK in a month from the initial departure, the period will be considered as an employment period as well. C. Requirements An eligible applicant from above who meets all the following conditions: ① You have acquired techniques or skills circumscribed by the Special Table 1 through a test administered by the Human Resources Development Service of Korea (hereinafter referred to as ‘techniques․skills conditions’) OR the average annual wage income for the past 2 years is equal or higher than the total amount of wage (the total wage amount for 12 months) (hereinafter referred to as ‘wage conditions'). ※ Total Salary = monthly pay (base wage+overtime wage)+{special wage from last year (bonus+performance based incentives)/12} ※ Please see media releases on 'Employment Conditions for Each Type of Employment' announced by the Ministry of Employment Labor regarding 'Wage conditions‘ (Ministry of Employment and Labor, Please go to http://laborstat.molab.go.kr for checking) ※ Those who apply for the change of status to F-2 Residence through wage conditions must be engaged in the same industrial field for at least 3 years out of the total employment period ② You must be able to support yourself and your dependents financially. for example, you must have financial assets worth at least 20 million won. ③ You are considered an adult under the Korean Civil Law. ④ You have scored the level 3 of the Korean Language Aptitude Test administered by the National Institute for International Education, or you have passed the Level 4 "Korean Language and Culture" course or higher level course of the Korea Immigration Integration Program prescribed by Article 48 of the Enforcement Decree of the Korean Immigration Control Act. the Nevertheless, this does not apply to those who have been educated at a high school as set forth in the「Elementary․Secondary Education Act」 or the 「Higher Education Act」or a university (industry college․education university․community college or Korea National Open University) OR to those who have industrial engineer licenses as set forth in Paragraph. D. Required Documents ① Visa application form(enclosed form #34), passport and alien registration card, fees ② Documents proving you have maintained at least 20 million KRW in your bank account for the past year. Documents proving your financial ability or your family member's financial ability to support the family such as a certified copy of real estate register․a photocopy of real estate lease contract or other documents equivalent to that recognized by the Minister of Justice. All documents must verify that you have at least 20 million KRW worth of assets. ③ Documents proving your past employment history such as a proof of employment, career certificate and etc. However, if an immigration officer can check your career history through the immigration information system, then you will be exempt from submitting these documents. ④ Documents proving your future employment engagement in fields where you were previously employed such as a certificate of prospective employment, standard employment contract ⑤ Documents proving the respective qualifications as set forth in the【Special Table 1】(limited to those fall under Article 3(2) ‘Techniques․Skills Conditions’) ⑥ Documents proving that you are earning incomes (such as a Receipt for Earned Income Tax Withholding) [for an eligible person under 'Salary Requirements' in accordance with paragraph 1, Article 3(2) only) ⑦ A transcript(report card) of the Korean Language Test or a certificate proving the completion of the Korea Immigration Integration Program, however, if you are qualified for conditions in accordance with paragraph 4, Article 3(2), you should submit documents which prove that you have completed at least 2 years of education or graduated in the RoK. E. Range of Employment If you are a foreign skilled worker in a production line and have obtained F-2 residence status, you are NOT allowed to work in fields where you were previously employed. F. Cancellation of F-2 Residential Status If you meet any of the conditions below after changing your status to F-2 residence as a foreign skilled worker, your status can be cancelled. 1. You have been decided to deport. 2. You have obtained a permission of change of status through unlawful or dishonest means.   6. Foreign Professionals are allowed to change their status through the Points-Based System A. Basis : Guidelines on change of status for F-2 Residence professionals via the Points-Based Immigration System - Subparagraph 27(I)(F-2 Residential Status) of Table 1, Presidential decree of the Immigration Act A. Flow Chart of Procedure for Changing Visa Status Alien Registration ⇨ applying for status of stay ⇨ evaluation/review (Points-Based System) ⇨ Permitting the change to a F-2 visa ⇨ Applying for a F-5 visa                   E-1~E-7, D-5~D-9, D-2,D-10   Have been staying in the RoK for at least one year   Age․Education․ Korean Language ․Income and etc   passing mark: 80/120 points   Have been staying in the RoK on a F-2 visa for at least 3 years B. Eligible Applicants Eligible Visa Status for Application Status of Stay R E M A R K S E-1 ~ E-5, E-7 D-5, D-6, D-7, D-8, D-9 Unlimited E-6 Not including E-6-2 visa holders working/performing at a hotel․adult entertainment establishment D-2, D-10 You have acquired master's degree at a university in Korea (including prospective graduates) and been confirmed for employment from a Korean company Period of Stay Requirements: You must be legally staying in Korea on a visa you are applying for at least one year. - However, the period of stay of a D-10 Job Seeking visa holder can combine their previous period of stay as a D-2 Study abroad visa holder. C. Requirements for Permission You must score total points higher than the passing mark. - Marks Distribution for each category (total: 120 points) and passing points (80 points) Categories Common Application Criteria (Total Points: 90) Extra/deduction (Total Points: 30) Total Points Passing Points Age Education Korean Language Current Income Extra points Deduction Points 25 35 20 10 30 -5 120 80 or above D. Required Documents ① Visa application form (enclosed form #34), passport and alien registration card, fees ② Documents proving degree (education degree, graduation certificate and others) ③ Documents proving Korean language ④ Documents related to earned income (i.e. Receipt for Earned Income Tax Withholding and etc.) ⑤ Employment Contract ⑥ Documents proving family relations (spouse or child) ⑦ the Immigrant integration completion confirmation, certificate of volunteer, career certificate and other documents proving you have scored above the cut-off marks   ≪ F-5 Permanent Resident Status Permission Criteria for Those Who Have Stayed in Korea for 3 years After Obtaining Resident Status Through the Points-Based System≫       •(Financial Ability to Maintain the Adequate Living Standard) You have financial assets worth over 30 million KRW, and from the date of your application submitted, your annual income amount is twice larger than the previous year's GNI per capita of Korea announced by the Korean Bank. •(Good Behavior) You have never violated Korean laws and never worked in the adult-entertainment industry or non-professional fields before. •(Basic Foundation) You have passed the Level 2 or higher level of the Korean Language Aptitude Test or completed the Korea Immigration Integration Program (However, if you scored 15 points or more on the Korean Language assessment when obtained resident status, you will be exempted from the language requirement.)   7. Permitting financial assets investors, such as real estate investors, to change their status to F-2-8 and F-2-81 Residents Basis : A Confirmation of Visa Issuance and Administration Guideline for Financial Assets Investors such as Real Estate investors - Ministry of Justice Announcement No. 2013-198 A. Principle Guidelines Those who have made a minimum amount of investment as individual investors, company executives, stockholders, and their family members will be allowed to change their status to the ones which do not have any employment restrictions Resident status is granted when the investment in Immigrant Investor Scheme for Real Estate and Public Business combined is at least the minimum investment amount of the concerned region subject to Immigrant Investor Scheme for Real Estate. Family Visitor status will be given to foreign investors who have not completed the real estate registration in order to attract real foreign investments and to guarantee free travelling and domestic stay in Korea If you have invested for at least 5 years on a residence visa, then you and your family members will be able to change your status to permanent residents. - Please note that if the sum of the periods of the Immigrant Investor Schemes for Public Business and Real Estate is 5 years or more, you are also eligible to apply If you have gotten a refund of your investment money before you obtain Permanent Resident status, the selling company* (i.e. a company selling the real estate, terminating the ongoing contract, transferring the membership) must report on this event to the head of an immigration (branch) office within 14 days from the date of refund. * refers to a real estate organization which attracts investors, signs a membership contract, sells a real estate property to other people, and finally, receive the payment for a new house. B. Range of application for financial assets such as real estates Region Investment Products Minimum Amount of Investment Peyongchang, Kangwon-do Real estate must be located in the Alepnsia Tourism Complex of Daegwallyeong approved and designated by the Provincial governor in accordance with Article 52 of the Tourism Promotion Act, and it must satisfy any of the followings below. ① Holiday Condominiums in accordance with the {Special Table 1 of Article 15(b)} of the Enforcement Decree of the Architecture Act and {Item (b) of Article 3(2) of the Tourism Promotion Act ② Hotels among general lodging facilities in accordance with the Special Table 1, Article 15(a) of the Enforcement Decree of the Architecture Act. ③ Cottages in accordance with Article 28 of the Enforcement Decree of the Local Tax Act, Article 168(13) of the Enforcement Decree of the Income Tax Act, and Article 92(10) of the Enforcement Decree of the Corporate Tax Act ④ Tourist Pensions in accordance with the Special table 1, Article 15(d) of the Enforcement Decree of the Architecture Act and Article 3(7) of the Tourism Promotion Act 500 million KRW Incheon Free Economize Zone Real estate must be located in the ‘Unbuk Leisure Complex’ and any leisure/holiday facilities within the ‘Young-Jong Sky City step 1-② (Complex Resort District)’ designated and approved by the Minister of Industry, Trade, and Energy in accordance with Article 4 and 9 of the ‘Special Act on Designation and Management of Free Economic Zones’, and it must satisfy any of the followings below. ① Holiday Condominiums in accordance with the {Special Table 1 of Article 15(b)} of the Enforcement Decree of the Architecture Act and {Item (b) of Article 3(2) of the Tourism Promotion Act ② Hotels among general lodging facilities in accordance with the {Special Table 1 of Article 15(a)} of the Enforcement Decree of the Architecture Act. ③ Houses established and connected to a sport facility in accordance with Article 9(3) of the Special Act on Designation and Management of Economic Free Zones, Article 3(18)(2) of the Regulations on Housing Supply and the announcement number 2012-323 of the Ministry of Industry, Trade and Energy ④ Cottages in accordance with Article 28 of the Enforcement Decree of the Local Tax Act, Article 168(13) of the Enforcement Decree of the Income Tax Act, and Article 92(10) of the Enforcement Decree of the Corporate Tax Act ⑤ Tourist Pensions in accordance with the Special table 1, Article 15(d) of the Enforcement Decree of the Architecture Act and Article 3(7) of the Tourism Promotion Act 700 million KRW Jeju-do Real estate must be located in development areas approved by the Provincial Governor of the Jeju-do in accordance with Article 229 of the Special Act on the Establishments of Jeju Self-Governing Province and Jeju Free International City, and it must satisfy any of the followings below. ① Holiday Condominiums in accordance with the {Special Table 1 of Article 15(b)} of the Enforcement Decree of the Architecture Act and {Item (b) of Article 3(2) of the Tourism Promotion Act ② Hotels among general lodging facilities in accordance with the {Special Table 1 of Article 15(a)} of the Enforcement Decree of the Architecture Act. ③ Cottages in accordance with Article 28 of the Enforcement Decree of the Local Tax Act, Article 168(13) of the Enforcement Decree of the Income Tax Act, and Article 92(10) of the Enforcement Decree of the Corporate Tax Act ④ Tourist Pensions in accordance with the Special table 1, Article 15(d) of the Enforcement Decree of the Architecture Act and Article 3(7) of the Tourism Promotion Act 500 million KRW Yeosu, Jeollanam-do Real estate must be located in the Yeosu Kyeong-do Oceans Tourism Complex which was designated and announced by the Minister of Oceans and Fisheries to support the Yeosu Expo in accordance with Article 24 of the ‘Special Act on Supporting the 2012 Yeosu World's Fair and Subsequent Applications of Its Facilities', and it must satisfy any of the followings below. ① Holiday Condominiums in accordance with the Special Table 1, Article 15(b) of the Enforcement Decree of the Architecture Act and Item (b) of Article 3(2) of the Tourism Promotion Act ② Hotels among general lodging facilities in accordance with the Special Table 1 of Article 15(a) of the Enforcement Decree of the Architecture Act. ③ Cottages in accordance with Article 28 of the Enforcement Decree of the Local Tax Act, Article 168(13) of the Enforcement Decree of the Income Tax Act, and Article 92(10) of the Enforcement Decree of the Corporate Tax Act ④ Tourist Pensions in accordance with the Special table 1, Article 15(d) of the Enforcement Decree of the Architecture Act and Article 3(7) of the Tourism Promotion Act 500 million KRW Busan Real estate must be located in Haeundae Tourist Resorts and the East Busan Tourism Complex of Haeundae Special Tourist Zone approved and designated by the Mayor of Busan City in accordance with Article 52 and Article 70 of the ｢Tourism Promotion Act｣ ① Holiday Condominiums in accordance with the Special Table 1, of Article 15(b) of the Enforcement Decree of the Architecture Act and Item (b), Article 3(2) of the Tourism Promotion Act ② Hotels among general lodging facilities in accordance with the Special Table 1, Article 15(a) of the Enforcement Decree of the Architecture Act. ③ Cottages in accordance with Article 28 of the Enforcement Decree of the Local Tax Act, Article 168(13) of the Enforcement Decree of the Income Tax Act, and Article 92(10) of the Enforcement Decree of the Corporate Tax Act ④ Tourist Pensions in accordance with the Special table 1, Article 15(d) of the Enforcement Decree of the Architecture Act and Article 3(7) of the Tourism Promotion Act - Haeundae Tourist Resort: 700 million KRW   - East Busan Tourism Complex: 500 million KRW   C. Investment Procedure for Real Estate Investor Entry   ⇨   Pre-screening examination / Instruction ⇨ Applying for a Change of Status / applying for a confirmation of visa issuance ⇨ Change of F-1 Family Visitation, F-2 Residential status/ visa and confirmation issuance ⇨ Apply for Change to F-5 Permanent Residence                   Register for a short-term stay as a foreigner   Investment Consultation   Real Estate Contract․purchase   Change to F-1 Family Visitation status will be allowed for a spouse or family member   Owning investment Assets/properties for five years D. Eligible Applicants You have made a minimum amount of investment in a designated real estate property as an individual foreign investor, company executive, or stockholder. Also, you are a dependent family (spouse + children) member of such a person: F-2 Residential Eligible Applicants You have made an at least USD $100,000 or 100 million KRW worth of investment in designated real estate products as downpayment or intermediate payment : Eligible Applicants for F-1 Family Visitation status - Foreign investors are classified into ① registration completed ② member of condominium or others and ③ down payment higher than the standard amount. Definition for each category is as follows ① Registration Completed : You have completed the ownership registration over the place you invested ② Member of condominium or others: You have been granted member status from the place you invested ③ Real estate investment of 700 million KRW or higher: You are a large amount investor who has signed a contract of purchasing a single real estate product at the selling price of 700 million KRW or higher, and who has already paid a downpayment and deposited intermediate payment and balance of 200 million KRW or higher in the Korea Development Bank (KDB). The total amount of downpayment, intermediate payment and balance combined must be at least the minimum standard amount for real estate investment of the region where your investment is located. E. Application Center Jurisdictional immigration (branch) office where the invested property is located (If you made investments in two or more facilities, please go to an office where the amount of investment is higher) ※ Registered aliens must go apply at their jurisdictional immigration (branch) office F. Required Documentation ① Visa application form (enclosed form #34), passport, alien registration(eligible applicants only), one standard size photograph, fee ② Real Estate Contract Note, A Certified Copy of Real Estate Register (for F-2 Residential applicants only)a ③ Membership certificate confirmed and issued by the Korea Leisure Condominium Management Association, membership certificate and deposit receipt issued by the selling company (for members only) ④ Certificate for Vacancy of Unsold New House (for persons who invested in an unsold new house only) ⑤ Residence Record of the House (only for persons who invested in an unsold new house, issued by the head of Eup, Myeon and Dong, effective only for five days from the issue date) ⑥ Documents demonstrating inflow of foreign currency (*You must submit a certificate of purchased foreign currency, receipt of international wire transfer, or wire transfer certificate. However, if you used your credit card for the transaction, you must submit all of the following documents: transaction confirmation issued by the respective bank, photocopy of credit card sales slip, deposit receipt of the selling company and others.) ⑦ Additional documents demonstrating that you have either paid or transferred the investment money from a foreign country to the respective company, under the investor's name (for those who have made indirect investments through a corporation only) ⑧ Official letter from the respective company, which indicates that you are a member of their current executive body or oligopolistic stockholder. You also need the entire list of their executives and stockholders (for executives or stockholders of the company only) ⑨ Documents demonstrating family relations (limited to when a spouse or an unmarried child of the foreign investor applies for the change of status) ※ If the child has come of age, documents demonstrating that he/she is single must be submitted. G. Selling Company's Responsibility (Responsibility to report) The selling company must report to the head of a jurisdictional immigration (branch) office if a foreign investor has gotten a refund (whether it was a full or partial refund) of his/her investment amount before he/she acquires permanent resident status, within 14 days from the date of its occurrence. - Report Details: Foreign investor's personal profile (nationality, name, date of birth), real estate investment (name of the building and room/apt/street number and etc), investment capitals and the amount of refund, the date of refund - Report Methods: you must send an official letter to the immigration office under the name of CEO of the selling company ※ However, any events that occurred before the effective date of this guideline, you must report it to the immigration office within 14 days from the start date of this guideline. (Responsibility to report the present conditions) The selling company must make a monthly report, through an official letter, on the present conditions of investment (which must be measured on the last day of each month) by the fifth day of every following month. Please use the form below. Number of Cases of Investment Amount of Investment Visa Types Nationality Redemption Remarks New Total New Total New Total         C-3 F-2             (To where?) The selling company must report on the present conditions of investments to the head of a jurisdictional immigration (branch) office where the particular real estate investment is located. If the selling company does not fulfill its responsibility to report, the head of the respective immigration office has the authority to impose various legal restrictions* on respective foreign investors such as not granting sojourn status, prohibiting them from hiring immigration representatives and etc. H. Representation on behalf of Real Estate Community Development Project Operator The range of activities a representative can do on behalf of his/her client - Stay permit as set forth in the Application guidelines to F-2 Residence Status, a confirmations of visa issuance , guideline for pre-screening examination application and issuance Representative Qualifications - The CEO of the selling company or section chief level or higher. Procedure and Criteria for Using Application Agent - Fill out the power of attorney and representative forms from the (Special Table 3) and submit them - A foreign investor staying outside of Korea is not allowed to use a representative on his/her behalf ※ However, in case of a confirmation of visa issuance, a foreigner is allowed to use a representative even if he/she is staying outside of Korea 8. Permitting foreign investors of the 'Immigrant Investor Scheme for Public Business' to change their status to F-2-9 Resident A. Basic Information If you are a foreign investor, foreign company executive, stockholder or immediate family member of such a person, who has invested in products designated by the Minister of Justice, you will be given F-2 Residential status. If you maintain your investment for the next 5 years at least on F-2 status, you will be granted F-5 permanent resident status according to certain standards - If you want to frequently visit Korea without residing in the country, a multiple-entry visa (C-3) valid for three years is granted to ensure more convenient entry. B. Immigration Investment Types Principal Guaranteed Investment An investor deposits the standard amount of money or more in a fund newly established by the Korea Finance Corporation commissioned by the Ministry of Justice (Korea Finance Corporation is an affiliated organization of the Financial Services Commission in accordance with the Korea Finance Corporation Act) * The deposited money will be used as a loan for small and medium businesses at a low interest rate Risk-Based Investment An investor invests the standard amount of money in a community development project in an underdeveloped area designated and announced by the Minister of Justice after having an internal discussion with other heads of the relevant ministries. * Development Promotion District in the New Development Region in accordance with the「Special Act on New Development Region Nurturing Investment Promotion」(4 projects in Youngju, Andong, Yecheun as of 2012), Tourism Leisure Type Enterprise Cities in accordance with the「Special Act on Enterprise City Development」’(2 districts in Young-am, Haenam, Taean as of 2012 ) C. Minimum Amount of Investment for Each Type Regular 500 million KRW or more Retiree Age 55 or older 300 million KRW or more* * However, one or his/her partner must have financial assets worth of 300 million KRW at the time of F-2 Residential Status acquisition, and he/she must have financial assets in Korea which are worth at least 300 million KRW when he/she changes his/her status to F-5 permanent resident In combination with the Immigrant Investor Scheme for Real Estate If the combined total of investment amounts in the real estate properties under the Immigrant Investor Scheme for Real Estate and the community development projects under the Immigrant Investor Scheme for Public Business is higher than the standard investment amount of the Immigrant Investor Scheme for Real Estate, you are eligible to apply for the change of status D. Registration Procedure of Business Development Operator   Designated Area Announcement ⇨ Project Operator Registration Request ⇨ Final Approval                 Minister of Justice     Jurisdictional Immigration (branch) Office   Minister of Justice (1) Required Documents when applying for registration request Documents demonstrating that your project has been approved by the head of relevant ministry or local government (i.e.: any official documents such as announcement, notice, official letter and others) ※ ‘New Development Region Promotion District' must be approved by the head of a municipal/provincial government, and for ‘Tourism Leisure Type Corporate City’, project operators must be approved by the Ministry of Culture, Sports and Tourism. Investment Attraction Plan which includes Promotion and Marketing measures Subscription form which includes the management of standard investment amount and investment risks (2) Registration Procedure (Apply) A project operator that has obtained an approval for the project from the central government or a local government apply for the investment recruiter registration to the head of a jurisdictional immigration office via written letter * refers to an immigration office that has jurisdiction over areas announced by the Minister of Justice (considering the scheme is in the early stage, a branch office is excluded) (Approval) After the head of an immigration office reviews the application, he/she asks for an approval to the Minister of Justice with an enclosed personal opinion (Registration) In a case of approval done by the Minister of Justice, the head of the jurisdictional immigration office must inform the respective project operator on an approval through an official letter E. Project operators are able to represent their investors on their on behalf (Range of allowed representation) change of visa status designated under this guideline, a confirmation of visa issuance, pre-screening instruction application and issuance (Representative Qualification) the CEO of the selling company or the section-chief level or higher (Representation Procedure and Standard) Project operator must fill out the enclosed forms 1), 2) and submit a power of attorney ※ A foreign investor is not allowed to apply for a representation for anything but a confirmation of visa issuance if he/she lives abroad. F. Responsibility of the Development Business Operator (Responsibility to Report) The Development Business Operator must report to the head of a jurisdictional immigration (branch) office if a foreign investor got a refund (whether it was a full or partial refund) of his/her investment amount before he/she acquires permanent resident status, within 14 days from the date of its occurrence. - Report Details : Foreign investor's personal profile (nationality, name, date of birth), real estate investment (name of the building and room/apt/street number and etc), investment capitals and the amount of refund, the date of refund - Report Methods : you must send an official letter to the immigration office under the name of CEO of the development business operator company (Responsibility to report the present conditions) The development business operator must report the present condition of investments at the end of each month, using form below. Number of cases of investment Amount of investment Visa Types Nationality Redemption Remarks New Total New Total New Total         C-3 F-2             ※ (To where) The development business operator must report everything mentioned above to the head of a jurisdictional immigration (branch) office. G. investment recruiter responsibility (Korea finance corporation and community project operator) (report responsibility) the investment recruiter must report within 14 days, if a foreign investor gets his/her investment money back before he/she obtains permanent resident status, from the refund (current condition report responsibility) the investment recruiter agency must report the following investment condition at the end of every month Total Investment Amount Number of Investment cases Status Type Nationality Callability Details Remarks     C-3 F-2           (Report and Current Condition Organization) The Korea Finance Corporation must report to the head of the Seoul Immigration Office, a project operator must report to the head of a respective immigration office where it is registered with. ※ In terms of responsibility to report, the respective foreigner must report to a jurisdictional immigration office, however, considering it is hard for an investment recruiting agency to know the place of residence for an investor, the investor must report to the jurisdictional immigration office where his/her investment recruiting agency is registered with. The Minister of Justice can cancel the designation of an investment recruiting agency if the investment recruiting agency fails to carry out its responsibility to report the current conditions and others. - The head of the respective local immigration office can request a cancellation of the recruiting agency designation if the investment recruiting agency fails to carry out its responsibility to report the current conditions and others. H. Management Standard for Change to F-2 Resident status of foreign investors for the Immigrant Investor Scheme for Public Business (1) Processing Procedure Entry   ⇨   Pre-screening examination / Instruction ⇨ Apply for a change of status ⇨ Change to F-2 Residential Status ⇨ Change to F-5 Permanent Resident Status                   Short-term traveller / foreigner registration   Investment and staying consultation   Invest (investment)   Reviewing of conditions   maintain 5 years of investment (2) Eligible Applicants for the change of status to F-2 Residential status and Permission Criteria Eligible applicants - Foreigners such as executives of a corporation, stockholders, spouses, and underage children of such a person herein must have invested money worth of 500 million KRW or more in a public business scheme ･ However, if you are age 55 or older and a retiree immigrant investor who has financial assets worth at least 300 million KRW, the minimum amount of investment is lowered to 300 million KRW - You are a foreign investor who has invested in community development projects of the Immigrant Investor Scheme for Public Business and real estate properties of the same scheme for Real Estate. In addition, the combined investment amount of the two scheme is higher than the investment standard amount announced by the Minister of Justice i.e.) If you have invested at least 600 million KRW in a real estate property under the Immigrant Investor Scheme in Incheon, plus at least 100 million KRW in the Immigrant Investor Scheme for Public Business, you will be given at least F-2 Residential Status I. Application Center ･ If you have invested in the Korea Finance Corporation, you must apply at the Seoul Immigration Office. ･ If you have invested in a community development project, you must apply at a local immigration office where the project operator is registered with. ※ You must apply at a jurisdictional immigration office for a registered foreigner J. Required Documents ① Application form(enclosed form #34), photocopy of passport, photograph, fee ② Any documents proving that you have paid your investment money (investment confirmation stamped by the head of a relevant investment recruiting agency, wire transfer receipt, and etc.) ③ Any documents proving the inflow of the foreign money (i.e: Certificate of Purchased Foreign Currency, Overseas Wire Transfer Receipt, Wire Transfer Certificate and etc) ④ Documents proving the family relation (for spouse or unmarried children of investors applying for a change of status) ⑤ For Retiree immigrant investors, documents demonstrating their financial assets worth at least 300 million KRW (i.e. deposits, assets such as real estate) ※ Documents demonstrating that you are unmarried if you are an unmarried child ⑥ Additional documents demonstrating that the investment money has been paid or transferred to a company, under the name of foreign investor (for those who have made investments through a corporation only) ⑦ Official letter from the invested company, which indicates that you are a member of their current executive body or oligopolistic stockholder. You also need the entire list of their executives and stock holders (for executives or stockholders of the company only) 9. Permission for change of residential status regarding other people on long-term stays [Special Table 1] Subparagraph 12(F)(F-2 Residential Status) of the Presidential Decree of the Immigration - You have stayed in the Republic of Korea for at least 7 years on an A-1 Diplomacy to A-3 Conventions/Agreements visa, thus your living base is here. Also, you are recognized by the Minister of Justice [However, if you are on an E-1 Professorship to E-5 Professional Employment or E-7 Special Occupation visa, minimum period of stay shall be 5 years. A. Basic Principles If you have been granted fixed status, have followed the positive laws, are financially independent, and want to settle in the Republic of Korea, you will be allowed to change our status of stay If you have violated the positive laws, or you don't have any ability to support economic activities, you will NOT be allowed to change your status of stay. B. Status Change Requirements Eligible Visa Status and Period of Stay ① D-1 Korean Arts and Culture, D-5 Journalist, D-6 Religious Worker, D-7 Intra-Company Transferee, D-8 Corporate / Foreign Investor*, D-9 International Trade, E-6-1,3 Arts & Performances, F-1 Family Visitor, F-3 Dependent Family** Status: continue to stay for at least 7 years * If you are on a D-8 Corporate / Foreign Investor visa, you must make an standard amount of investment (100 million KRW) or more in accordance with the「Foreign Investment Promotion Act」at the time of application. ** If you are eligible for a F-1 Family Visitor and a F-3 Dependent Family visa, you must apply with a principal visa applicant of the stay.   ≪ How to Calculate the Period of Stay regarding ① and ② ≫       ○ If you have re-entered the RoK within a month of departure, your absence is still considered as a continuos stay. ○ If you have obtained approval within the eligibility of F-2-99 Residence status, we will combine the total period of your stay by each of your visa status. ※ EX.1) You are allowed to apply -> F-1 4 years + E-7 2 years + D-8 1year EX.2) You have stayed in Korea for four years on a D-2 visa which is outside of eligibility for F-2-99 Residential status, therefore, the period of your stay on the D-2 visa will not be counted when you apply for a E-7 visa ○ We do NOT count the periods of stays as a result of Permission for extension of period of sojourn for departure (Article 32 of the Enforcement Regulation), and Period of Departure Probation (Article 33 of the Enforcement Regulation) ② E-1 Professor, E-2 Foreign Language Instructor, E-3 Researcher, E-4 Technical Instructor/Technician, E-5 Professional, E-7 Foreign National of Special Ability: continue to stay for 5 years or more Age Criteria : An adult considered by the Korean Civil Law at the time of application Financial Maintenance Ability Requirements (※ You should possess all required documentation of ① and ② below) ① You or a member your household family must have at least 30 million KRW under your or his/her name (bank deposits, real estate, etc) - However, ① you have to indicate the fixed date in case of a leasehold contract regarding a house ② In case of a leasehold contract regarding commercial building, a business registration’ is needed if your genuineness is confirmed through the money deposited into a bank account ② The total income (including pensions) of the family shall be above the Gross National Income Per capita announced by the Bank of Korea - However, among E-7 Foreign National of Special Ability status applicants, those who are eligible for the change/addition of work places noticed by the Ministry of Justice Announcement #11-510 need incomes 1.5 times bigger than the Gross National Income. * Sales clerk, chef and cook, designer, hotel clerk/receptionist, medical coordinator, sea cucumber farming technician, shipbuilding welding technician, manufacturing field manager, construction field manager, agriculture/fishery field manager Basic Conduct and Quality Requirements ○ You have passed Level 2 or higher in the Test of Korean Proficiency Test or completed Korea Immigration Integration Program. C. Application Center An immigration (branch) office in your area/region D. Required Documents ① Visa application form (enclosed form #34), passport and alien registration, one standard size photograph, fee ② Statement of reasons request (special circumstance) ③ Documents proving the ability to support yourself financially (2 types or more) - choose one from the bank account balance, the real estate leasehold contract, and the real estate business registration - choose one from the receipt for earned income tax withholding, documents proving the pension collection, tax payment certificate ④ Documentation Proving Basic Conduct and Quality - Criminal/police record issued by a domestic police station ※ However, if you have not submitted a criminal record issued by your country while applying for an E-2 Foreign Language Instructor visa, you will be additionally asked to submit the record. - Level 2 or higher of the Korean language Test Result (issued by the National Institute for International Education) or Korea Immigration Integration Program completion certificate (issued by the head of an immigration office) ⑤ Other documents which the head of an immigration office found necessary 10. Permission for Change of Residential Status for foreigners who are hired as civil servants A. Eligible Applicants : Subparagraph 27(h)(F-2 Resident Status) of Special Table 1, Article 12 of the Presidential Decree of the Immigration Act (Special Table 1) B. Qualification Requirements You are hired as a civil servant in accordance with the ｢National Civil Servants Act｣ or the ｢Local Civil Servants Act｣ accredited by the Minister of Justice C. Required Documents ① Visa application form (enclosed form #34), passport, alien registration, one standard size photograph, fee ② Public servant identification card or a confirmation of prospective civil servant (a confirmation of a civil servant appointment) ③ personal reference letter