In addition to its dynamic economy, South Korea offers a wide range of opportunities for foreign investors and entrepreneurs. A business-friendly environment, technological advancements, and strategic location make it attractive to businesses and professionals.
In order to establish or expand your business in South Korea, you must understand the visa application process. In this guide, you will find a complete description of the South Korea Business Visa and how to get sponsorship for the visa.
How does a South Korea Business Visa work?
With a South Korea Business Visa, foreign nationals can attend meetings, sign contracts, discuss investments, or manage businesses in the country. In accordance with the purpose of the visa, there are different types of visas:
- Visits involving business meetings or conferences will be approved for the C-2 Short-Term Business Visa.
- South Korea Investor Visa: Designed for investors or businesspeople who plan to invest in the country.
- International trade and business managers will benefit from the D-9 Trade Management Visa.
It is important to understand that each type of visa has its own requirements, validity periods, and application procedures.
There are many benefits to obtaining a South Korea business visa
The following are some benefits of holding a South Korea Business Visa:
1. Opportunities in Thriving Markets: A number of robust industries are based in the South Korean economy, including those in technology, automotive, and finance.
2. Discover networking opportunities: Find out what companies, government agencies, and global investors are doing in your area.
3. Conduct legal business operations: Conduct business legally in South Korea in accordance with immigration and business regulations.
4. Support for family members : Visas with family members accompanying the visa holder are generally allowed.
5. Prospects for Permanent Residency: Some long-term business investors will be eligible to become permanent residents.
Obtaining a business visa for South Korea requires the following qualifications:
There are specific requirements you must meet in order to qualify for a South Korea Business Visa. The criteria vary based on the type of visa:
1. The requirements are as follows:
- You must have a valid passport that is valid for at least six months.
- Completed visa application form.
- Clean record of criminal activity.
- An indication of your financial stability or ability to make investments.
2. Requirements for obtaining a short-term business visa (C-2)
- South Korean company’s invitation letter.
- Provide evidence of the business purpose (e.g., meeting agendas or contracts).
3. The requirements for an investor visa D-8
- A proof of capital investment (a minimum of USD 100,000).
- An official confirmation of the company’s registration in South Korea.
- Planning and feasibility studies for a business.
4. Requirements for visas for D-9 Trade Management
- The documents must prove that you have been involved in international trade or logistics.
- An ongoing business relationship can be demonstrated by agreements or contracts.
A list of documents required for a South Korea business visa can be found here
You will need to submit the following documents depending on the type of visa you are applying for:
1. Personal documents of the individual
An original and a photocopy of your passport.
Photo of passport size (recently taken and in accordance with guidelines).
We have submitted an application for a visa in its entirety.
2. Documents pertaining to business
This invitation is from an organization in South Korea.
A proof of South Korean company registration.
Contracts for the exchange of goods or services.
The business plan should be detailed.
3. Documents related to finances
Statements for the last six months of your bank account.
Ensure that sufficient funds are available to sustain the business.
4. Any additional documents you may need (if applicable)
An investigation of criminal records is conducted.
Credentials or experience in the business world.
An overview of the South Korea Business Visa application process
1. Decide what type of visa you need: Select the right type of visa for your purposes, whether it’s a short-term or long-term one.
2. Compose All Necessary Documents: Assess the type of visa and collect all necessary documents. Verify whether your documents have been translated into Korean and certified (if necessary).
3. Complete and submit the application
- If you live outside of South Korea, apply at the South Korean embassy or consulate there.
- Online applications can be initiated through HiKorea.
4. Take the visa interview: If required, attend a visa interview at the South Korean embassy. Preparation is key when it comes to discussing business plans and goals.
5. Consider the length of time it will take to process: Visa processing times typically range from 5 to 15 working days. A visa that is long-term, such as the D-8 or D-9, may take longer to process.
6. Get Your Visa: Upon approval, collect your visa and prepare for your South Korean business activities.
Getting a visa sponsored by a South Korean businessman
It is critically important for foreign employees or investors to be sponsored by a South Korean company in order to obtain a South Korea Business Visa. When you are sponsored, a local company or employer can take responsibility for your stay and business activities.
1. What are the requirements for sponsoring a business visa?
- An organization registered in South Korea.
- Organizations that are associated with government or industry.
- Partnering with South Korean joint ventures.
2. Sponsor’s responsibilities
- The invitation letter must be official.
- Providing assistance with supporting documents.
- Responsible for ensuring that an applicant complies with the visa requirements.
3. How much does it cost to get a business visa for South Korea?
In order to obtain a South Korea Business Visa, you will need to provide the following information:
- Short-Term Visa C-2: $40-$90. Depending on how many entries you make, this can range from one to several.
- D-8 Investor Visa: Costs between $120 and $200, excluding additional processing fees.
- D-9 Trade Visa: Around $100–$180, based on the applicant’s nationality.
A translation fee, certification fee, and legal consultation fee may also be added to the cost of the project.
How to extend or renew a South Korea business visa
An extension of your visa is available if you wish to stay in South Korea beyond the validity of your visa:
- Submit an Application Early: You should extend your visa at least 30 days before its expiration.
- Prepare Updated Documents: These should include financial statements, updated business plans, and evidence of ongoing operations.
- Visit the Immigration Office: The immigration office in South Korea processes extension requests.
What you need to know about applying for a business visa
1. Verify Document Accuracy: Confirm the accuracy and completeness of all submitted documents.
2. Consult with professionals : Consult immigration consultants or lawyers for a smooth process.
3. Develop clear business plans: Ensure your business plan is well-written for a better chance of being approved.
4. Be aware of local laws : Make sure you are familiar with the business regulations in South Korea before you begin working there.
The following alternatives may be more suitable if a business visa doesn’t fit your needs:
- Tourist Visa (C-3): Designed for short-term business meetings that are not bound by contract.
- Work Visa (E-7): If you are employed to perform specialized tasks by a South Korean company.
- Permanent Residency (F-2 or F-5): For successful business investors, this can be a long-term option.
Foreign entrepreneurs and investors can take advantage of the abundant opportunities offered by South Korea via a business visa.
It is important to understand the requirements for visas, sponsorship procedures, and application steps so that you can achieve your business goals in South Korea.
Let the Land of the Morning Calm be your home as you embark on a prosperous business journey.