If you're an outstanding foreign trader looking for increased convenience during your stay in Korea, the D9 Trade Visa provides a customized system to suit your requirements. This initiative includes a unique scoring system that assesses trade proficiency, domestic residency experiences, and additional factors.
The Trade Visa introduces a groundbreaking approach to improve the comfort of stays for exceptional foreign traders. With varied eligibility criteria, the system enables permits and residency status changes for those scoring 60 points or above out of 160. It actively facilitates residency changes for long-term residents with extensive domestic stay experiences. Nevertheless, extension permits are exclusively awarded based on trade performance.
- Proficiency in Korean (TOPIC 3+) and achieving a score of 60 points or higher in the Trade Visa scoring system.
- Applicants must attain a minimum of 10 points in essential categories and possess a business registration certificate.
For joint representatives, the total score is divided, and only the resultant score is considered. The business registration must fall under the 'trade' category, and a lease agreement for a separate business facility in the applicant's name is mandatory.
Example with 60 points:
* Oasis 4+ Trade Specialized Training (3 days, 10 points)
* Korean university graduation (5 points)
* Study abroad experience (30 points)
* Domestic stay of 3 years or more (15 points)
Trade Performance (Average annual performance in the last 2 years): Up to 30 points
* Export Performance:
- Over $300,000: 30 points
- Over $100,000: 20 points
* Trade Performance (Export + Import):
- Over $500,000: 15 points
- Over $300,000: 10 points
Trade Expertise: Up to 35 points
* Trade-related work experience (1): 20 points
* Major in a trade-related field (2): 15 points
* Completion of trade specialized training (3): 10 points (1) Only one of (2) or (3) can be duplicated, applicable to those with 2 or more years of regular work experience in trade. (2) Completion of a trade-related major at a domestic or foreign university. (3) Recognition by the Minister of Justice for the institution and course.
Domestic Stay Period (As of the application date): Up to 20 points
* Continuous domestic stay:
- Over 5 years: 20 points
- Over 3 years: 15 points
- Over 1 year: 10 points Stay without foreigner registration for more than 200 days in the last 2 years: 5 points
Education: Up to 20 points
* Ph.D.: 20 points
* Master's degree: 15 points
* Bachelor's degree: 10 points
* Associate degree: 5 points
Additional Points: Up to 55 points
* Domestic study experience (1): 30 points
* Capital of 100 million won or more (2): 15 points
* TOPIC 3 or higher or KIIP completion: 10 points (1) Foreigners who have studied for more than 2 years at a domestic university and obtained a bachelor's degree or higher. (2) Limited to funds owned by the individual related to the operation of the trade business.
Trade Performance (Average annual performance in the last 2 years):
* Export Performance:
- Over $500,000: 30 points
- Over $300,000: 20 points
- Over $100,000: 15 points
- Over $50,000: 8 points
* Trade Performance (Export + Import):
- Over $70,000: 5 points Recommendation letter from a specialized educational institution: 5 points (No duplication of scores; only the highest score is considered. The recommendation letter is limited to 4 times for the same individual.)
Domestic Employment (As of the application date):
* Over 3 employees: 10 points
* Over 2 employees: 5 points
* Over 1 employee: 2 points
Tax Payment Record (Based on the annual income tax payment record):
* Over 5 million won: 7 points
* $4-5 million: 5 points
* $3-4 million: 3 points
* $2-3 million: 1 point
Advanced Trade Training Course Completion: 3 points For those who completed an approved course within 1 year of the application date.
For the first extension permit:
* Scores 5-10 points (1): 6 months
* Scores 11-20 points: 1 year
* Scores 21 points or more: 2 years (1) In the case of (1), trade performance must score 5 points or more. For the second extension permit, those with scores of 5 points or less are not allowed an extension.
For the second extension permit:
* Scores 10 points or less: No extension
* Scores 11-30 points: 1 year
* Scores 31 points or more: 2 years
Reference: Oasisvisa
In summary, the D9 Trade Visa brings forth
a pioneering scoring mechanism, refining eligibility standards for foreign
traders and prioritizing a well-rounded approach to residency transitions. This
intricate policy underscores a dedication to accommodating esteemed
contributors while mitigating potential misuse. Pearson & Partners, a
consultancy specializing in Korea, is well-equipped to assist with D9 Visa
procedures, providing proficiency in incorporation, tax accounting, and visa
assistance. For personalized guidance in navigating Korean business
regulations, reach out to us.