Hello. I am Attorney Kim, Yae-jin.

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I would like to share a recent success story regarding the approval of a change of residence status(VISA) to “Corporate Investment (D-8-1)” for a foreign shareholder and CEO of a foreign-invested company.

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Foreign national A established a corporation in Korea, invested 100 million won, and completed the registration as a foreign-invested enterprise. Foreign national A is the sole shareholder and CEO of the aforementioned foreign-invested enterprise.

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I handled the application for a change of residence status(VISA) to “Corporate Investment (D-8-1)” for foreign national A, who had entered Korea to establish the foreign-invested enterprise.

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The 100 million KRW that Mr. A invested in the aforementioned foreign-invested enterprise was money he had received as a gift from his father. In applications for a change of residence status(VISA) to “Corporate Investment (D-8-1),” particularly when the investment amount is less than 300 million KRW, immigration authorities thoroughly review the source of the investment funds and the authenticity of the company’s establishment.

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We provided a detailed explanation of the circumstances and manner in which Mr. A received the investment funds as a gift from his father, and we thoroughly prepared and submitted the relevant supporting documents.

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We also cooperated fully with the on-site inspection, explaining the motivation behind the establishment of the foreign-invested enterprise and the future business plan.

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With the assistance of our law office, Mr. A received approval for his change of residence status(VISA) to “Corporate Investment (D-8-1)” approximately five months after submitting his application, enabling him to conduct business in Korea.

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As discussed above, in cases where the investment amount is less than 300 million won, immigration authorities conduct a thorough investigation over an extended period before deciding whether to grant permission to change the residence status(VISA) to Corporate Investment (D-8-1). Therefore, legal assistance from an attorney is often necessary during the application and investigation process.

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If you need assistance with a similar case, please contact us.

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Contact Us

Yae Jin Kim, esq.

Phone: 031-217-8579 (Kakao Talk: k.visa)

Email: questions@kvisa.co.kr

Website: en.kvisa.co.kr