About the scheme
The IISPB grants Resident (F-2) status, which allows free economic activities, to foreigners making certain amount of investment in compliance with the standard set by the Minister of Justice, and allows changing the status to Permanent Resident (F-5) if the foreign investor maintains the investment for at least 5 years.
- Principal Guaranteed and Interest-Free Investment
- Foreign investors deposit the minimum required money in the public fund which the Korea Development Bank, commissioned by the Ministry of Justice, operates and the investment principal (only) is returned after 5 years.
Ineligibility: Criminals, tax delinquents, and those who have violated the Immigration Act more than 4 times. (However, those who have cleared overdue taxes are eligible to apply)
- Risk-based Investment
- Foreign investors make investment of the minimum required money in the development projects carried forward in less developed regions* designated and notified by the Minister of Justice through consultations with the relevant ministry (Ministry of Land, Infrastructure and Transport), and make or lose profits from the investment.
Development promotion regions (Yeongju, Andong, Yecheon) in underdeveloped areas under 「Special Act on the Promotion of Development Investments in Underdeveloped Areas」, and Tourism-Leisure Style Enterprise Cities (Taean, Yeongam, Haenam) under「Special Act on the Development of Enterprise Cities」
Minimum required investment amount
500 million KRW or more (300 million KRW or more for a retiree investor over 55 years of age)
Besides the investment, a retiree investor and the spouse should have assets of 300 million KRW or more at home and abroad.
Resident (F-2) status, which allows free economic activities, is granted to a foreign investor, the spouse and the unmarried children, and changing the status to Permanent Resident (F-5) is allowed if the foreign investor maintains the investment for at least 5 years.
The investment Immigration fund for public business is entrusted to the Korea Development Bank, which grants loans to Small and Medium sized Enterprises and Smart Factories at low interest rates, thereby contributing to the Fourth Industrial Revolution and job creation for Korean nationals.