South Korea, often a mystery to Westerners, stands as a remarkable success story. Consider momentum when choosing a country to establish ties, and South Korea is a prime focus.
South Korea, once a migrant nation like the Philippines today, sent workers abroad to meet demand. Now, it stands as one of Asia's wealthiest nations.
Korean Permanent Residency Visa
Korean Permanent Residency Visa
Securing a South Korea visa was once easy with 25 million won (US$20,000). Claiming to set up a business allowed indefinite residence.
Authorities increased the minimum investment to US$50,000, then US$100,000. Now, a South Korean investor visa requires generating profit or demonstrating economic activity for residency.
You can start a business, invest in a business, invest in real estate, or invest in a government fund or development project to get South Korean residency.
Business in South Korea
Business in South Korea
For a restaurant or lifestyle business, South Korea could be appealing. The D-8 visa has a specific dollar amount and minimal restrictions, allowing for less groundbreaking business ideas.
Invest 500 million Korean won in real estate for residency (approx. US$401,878). Alternatively, invest the same amount in South Korean government bonds, holding them without interest for five years for residency.
South Korean Citizenship
South Korean Citizenship
Acquire naturalized Korean citizenship by maintaining a residence. The most common path is "general naturalization" among the three options available.
Under this process, you must have lived in South Korea for five consecutive years and have spent at least 183 days each year in South Korea, and pass a test on Korean culture and history. You have to prove your Korean language proficiency in the test as well.
Dual Citizenship in Korea
Dual Citizenship in Korea
South Korean citizenship is one of the best in the world. A South Korean passport can take you almost anywhere in the world.However, the dual citizenship law in South Korea doesn’t typically allow dual citizenship.
Is the South Korean Passport Worth it?
Is the South Korean Passport Worth it?
South Korea visa costs are higher due to its developed status and diverse population, including many Chinese nationals. Permanent residence comes at a premium.
South Korea is no corporate tax haven. A 10% minimum tax applies to income under KRW200 million, peaking at 25% for income over KRW300 billion.
Opportunities arise for those living in South Korea, especially in affluent Seoul, like the renowned Gangnam area. A "first-world" Asian passport may justify the investment.