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Permalink Reply by Steven S. Bammel on October 11, 2012 at 9:01pm

Roger - I was up at InvestKorea a month or so ago talking with the official there from Korea immigration. I don't believe there's anything new on the D-8 that would make it easier to get; it still takes a large capital investment.

Here's a post I put together from that discussion though which might shed a little light on the visa situation - Answers to Questions about Business Visas in Korea

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Permalink Reply by Roger Shepherd on October 11, 2012 at 9:40pm

Thanks Steven.

I hold a D8 visa, but immigration have moved the goalposts on new applicants including renewals - basically axing the sole proprietorship and forcing them to change into corporations, at more expense, with no guarantees of a visa renewal. It puts on off on investing more when the future is so unclear.

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Permalink Reply by Steven S. Bammel on October 11, 2012 at 9:55pm

You got a D-8 visa without establishing a corporation and with just a sole proprietorship? I didn't know it could be done. How did you do that? Was it several years ago?

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Permalink Reply by Roger Shepherd on October 11, 2012 at 10:07pm

Ha ha, yeah it was 2 years ago. To change to a corporation is a process that involves non-guaranteed expense, and legal proceedings. It's all very vague at the moment, and a little too typical for my liking. I'll have to weigh it up. May even go for the F2 visa, as I like Korea so much. I can still finish off what I have to do here without the D8 visa, it'll just have to be done through an off-shore registered business which I can set up in my home country. 

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Permalink Reply by Steven S. Bammel on October 12, 2012 at 8:53am

That's interesting. I remember that they increased the capital requirements about two years ago; I didn't know they were giving E-8 visas away without any capital though before that.

I guess you have to feel lucky for what you got and consider the current state of affairs to be the norm.

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Permalink Reply by Roger Shepherd on October 12, 2012 at 8:59am

No, I had to bring foreign investment into Korea, 50,000,000W back then - there was no luck or giving away of anything involved at all.

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Permalink Reply by Steven S. Bammel on October 12, 2012 at 9:07am

Oh! OK, then the only difference is that they've increased the capital amount. But with W50 million, why did you set up a sole proprietorship? That money would have served for a full corporation.

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Permalink Reply by Roger Shepherd on October 12, 2012 at 9:10am

Good question. From memory, it was easier to set up a sole proprietorship than a corporation back then.

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Permalink Reply by Steven S. Bammel on October 12, 2012 at 9:11am

Oh, OK. Yeah, the sole proprietorship would be simpler in many ways.

Permalink Reply by Roger Shepherd on October 12, 2012 at 9:11am

And of course, one wouldn't expect the new changes to apply to current holders as well. Most of the initial capital is now tied up in projects as operating costs. A little unfair I think.   

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Permalink Reply by Roger Shepherd on October 12, 2012 at 9:13am

Anyway, new obstacles bring new challenges, new thinking etc...

Permalink Reply by Steven S. Bammel on October 12, 2012 at 9:15am

There's a lot of discretion up at immigration on who and when to give visas. Email me if you'd like the contact info for the guy I met up at InvestKorea. If you point out that you already made the investments, perhaps there would be a way to find some flexibility.

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