What is a Permanent Resident Visa (F-5) ?

The name says it all. The Korean permanent resident visa (F-5) is the Korean green card, the most versatile visa for foreigners who wish to live in Korea for an unlimited period of time and without any restriction on their activities in Korea.

Eligibility

There are several categories which can apply for a permanent resident visa.

1. Those who are an adult under Korean law and have been residing in Korea for at least 5 years with D-7, D-8, D-9, D-10, E-1, E-2, E-3, E-4, E-5, E-6, E-7, or F-2. (F-5-1)
   
   
2. Spouse or minor child of a Korean citizen or a Korean permanent resident who has been residing in Korea for at least 2 years. (F-5-2, F-5-3, F-5-4, F-5-18, F-5-20)
   
   
3. A foreign investor who has invested at least US$500,000 in accordance with the Foreign Investment Promotion Act and who has hired at least 5 Korean citizens. (F-5-5)
   
   
4. Overseas Korean (F-4) visa holder who Has been residing in Korea for at least 2 years whose need for a continuous residency in Korea is acknowledged by the Minister of Justice. (F-5-6)
   
   
5. Overseas Korean under the Act on Entry, Exit, and Legal Status of Overseas Koreans who meet all the prerequisites for naturalization as set forth in the Nationality Act. (F-5-7)
   
   
6. Resident (F-2) visa holder under the previous statute and regulations whose need for a continuous residency in Korea is acknowledged by the Minister of Justice. (F-5-8)
   
   
7. Any foreigner who the Minister of Justice acknowledged falls within any of the following: ① those who have earned a Ph.D. degree in certain fields from a foreign country, ② those who are hired by the Korean company and organization, or ③ those who have earned a Ph.D. degree from a University in Korea after completing its Ph.D. program. (F-5-9, F-5-15)
   
   
8. Those who have earned ① a bachelor’s degree or higher degree, or a license in a specific field designated by the Minister of Justice, ② have stayed in Korea for at least 3 years, and ③ are hired by a Korean company and receive a certain amount of income specified by the Minister of Justice, at the time of the application. (F-5-10)
   
   
9. Those who have a special talent in the fields of science, business management, education, cultural arts, sports, etc., which is acknowledged by the Minister of Justice. (F-5-11)
   
   
10. Those who made a special contribution to Korea which is acknowledged by the Minister of Justice. (F-5-12)
    
    
11. Those who are 60 years old or older and receiving pensions worth more than the amount designated by the Minister of Justice. (F-5-13)
    
    
12. Work and visit (H-2) visa holders who have met the prerequisites regarding skill licenses, wages, assets, and personal qualities with an acknowledgment by the Minister of Justice. (F-5-14)
    
    
13. Those who have Resident(F-2) visa granted based on the criteria of age, education, etc. by the Minister of Justice, have been residing in Korea for at least 3 years, and whose need for a continuous residency in Korea is acknowledged by the Minister of Justice. (F-5-16)
    
    
14. Those who have a Resident(F-2) visa granted for certain investors, directors and shareholders by the Minister of Justice, maintained the investments for at least 5 years, and whose need for a continuous residency in Korea is acknowledged by the Minister of Justice. (F-5-17, F-5-19, F-5-21, F-5-22, F-5-23)
    
    
15. Those who have continuously resided in Korea for at least 3 years with a D-8 Corporate Investor visa granted based on having intellectual properties or technics acknowledged by the Minister of Justice, have attracted investment capitals worth 300 million KRW or more, and hired at least 2 Korean employees, among other prerequisites. (F-5-24)
    
    
16. Investors who meet the requirements of maintaining the investments for at least 5 years and other prerequisites by the Minister of Justice. (F-5-25)
    
    
17. Those who have continuously resided in Korea for at least 3 years with a D-8 Corporate Investor visa granted as an essential professional of an R&D facility under the Foreign Investment Promotion Act. (F-5-26)
    
    
18. Those who have continuously resided in Korea for at least 2 years with a Resident visa (F-2) granted as a refugee. (F-5-27)

Requirements

Disqualifications

Any person who falls within any of the following cannot apply for a F-5.

• Korean criminal history of a sentence of imprisonment of 5 years or more, unless 5 years have passed since the date of sentencing
• Korean criminal history of being fined, unless 3 years have passed since the sentencing
• Breach of Korean immigration law for 3 times or more within the past 5 years.
• History of deportation by the Korean immigration office within the past 7 years, or history of exit order by the Korean immigration office within the past 5 years
• The foreign criminal history in certain crimes
  • Exemption: The following applicants are not required to submit the foreign criminal record checks
    ① Applicants of F-5-9, F-5-15, F-5-11, F-5-12
    ② A criminal minor at the time of application
    ③ Those who was born in Korea and has not resided in foreign countries not more than 6 consecutive months
    ④ Those who had previously submitted a criminal history record check to the Korean immigration office and continued to stay in Korea for the past 5 years, except those who had resided abroad more than 6 consecutive months
• Those who breached the Korean immigration law and was fined 5,000,000KRW or more for the past 3 years or whose cumulative amount of fine is 7,000,000KRW or more for the past 3 years
• Those who are subject to the cause of deportation order

Financial qualification

F-5 applicant must prove his/her financial capacity to maintain the living in Korea. In calculating the incomes, the applicant can add up the incomes of his/her spouse, minor child, parents who have lived together during the period of assessment.

Please note that the applicants for a point-based permanent resident visa (F-5-16) and a pension based permanent resident visa (F-5-13) cannot add up someone else’s incomes.

Period of Assessment

Incomes for the previous 1 year of the application.

For example, if you file an application in December 2020, your incomes for the period between January 1, 2019, and December 13, 2019, shall be reviewed for the assessment of your financial capacity.

Admissible Types of Incomes

Only taxable incomes under Korean tax laws shall be admissible.

Minimum Yearly Income Thresholds

Each F-5 applicant must meet the minimum yearly income threshholds for each of the F-5 categories to prove his/her financial qaulification. The Gross National Income (GNI) of Korea for the previous year of the application shall be the basic standard and the Minister of Justice sets the minimum yearly income based on the GNI. For more detail, please contact us.

Exemptions

There are certain F-5 catagories which do not reqire a proof of financial capacity. For example, applicants for an investment based permanent resident visa (F-5-5, F-5-17, F-5-21, F-5-25), a highly-skilled permanent resident visa (F-5-11), and a national honor and contribution based permanent resident visa (F-5-12) are exampted from the assessment of financial qualification. Please contact us to check whether you can benefit the examption.

personal quality

The applicant for F-5-1, F-5-4, F-5-16, F-5-18 and F-5-10 must meet any of the following:

① Completion of Level 5 of the Social Integration Program; or
② 60 points (out of 100) in the comprehensive evaluation for permanent residents.

Specific requirements for certain types of F-5

Certain types of permanent resident visa including a marriage based F-5, investment-based F-5, Chinese heritage F-5, a point-based F-5 has specific requirements under the law. Thus please contact us to find whether you fall under those types.

Re-Entry

F-5 holdrs do not need to file any report when leaving Korea so long as he/she is willing to return to Korea within 2 years.

If, however, the F-5 holders wish to stay abord for 2 years or longer, they must file an application for a re-entry permit with the local Korean Embassy or Consulate within 3 months before the expiration of 2 years.

Summary

The Korean immigrartion law has very wide range of possibility to get a permanent resident visa in Korea. That, however, makes the permanent resident visa aplication process more complicated. You have to review the relevant laws and regulations thoroughly in order to raise the chances of getting approved. Our Korean immigration attorney can review your situation and help you prepare and file a permanent resident visa application.

If you want to speak directly with our Korean qualified English speaking lawyer, please click the contact button below.  A real Korean lawyer, not a U.S. attorney hired by a Korean lawyer nor just an English speaking staff, will help you competently.

Because of the generality of this update, the information provided herein may or may not reflect the most current legal development at the time of view, nor is it applicable in all situations nor should be acted upon without specific legal advice based on particular situations. 

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