On June 29 of this year, the South Korean Ministry of Justice announced a new investment immigration policy, raising the deposit threshold for the South Korea deposit-based immigration program as follows:
F2 residency status: The deposit threshold has increased from 500 million KRW to 1.5 billion KRW;
F5 permanent residency status: The deposit threshold has increased from 1.5 billion KRW to 3 billion KRW;
The retirement investment immigration system has been abolished, meaning the policy allowing individuals aged 55 and over to apply for investment immigration with a 300 million KRW deposit has been cancelled.
Compared to the old policy, the minimum deposit threshold for the South Korea deposit-based immigration program has risen to 1.5 billion KRW, a threefold increase. However, why are so many investors still applying? Because the South Korea deposit-based immigration program has its own unique advantages:
I. Simple application requirements, no need to explain the source of funds
The South Korea deposit-based immigration program has simple application requirements and does not require an explanation of the source of funds. Compared to other immigration programs, the South Korea deposit-based immigration program only requires meeting the deposit requirements to apply, without the need to provide any documents explaining the source of the deposited funds, making it simple and easy to execute. Additionally, the deposit is held in a bank account designated by the South Korean government and is returned with principal guaranteed after 5 years, ensuring the safety of funds.
II. The best partner for transit with a second passport
The South Korea deposit-based immigration program is the best partner for transit when holding a second passport. Investors can use their South Korean F2/F5 residence card in conjunction with a second passport for transit, allowing them to use self-service channels to enter and exit South Korea for quick and convenient customs clearance. Furthermore, South Korea has an excellent geographical location, with a flight time of just over an hour from China, making travel convenient. With numerous international flights, it is highly suitable for clients holding a second passport to use as a transit hub.
III. Can include adult children in the application
The South Korea deposit-based immigration program allows for the inclusion of adult children in the application. There is no age limit for accompanying children in the South Korea deposit-based immigration program; as long as the children are unmarried, they can apply together.
IV. No immigration detention requirements
The South Korea deposit-based immigration program has no immigration detention requirements. Those who obtain F2 residency status through the deposit method only need to enter the country once a year, for a minimum of 1 day; those holding F5 permanent residency status only need to enter the country once every 2 years.
V. Fast processing speed
The South Korea deposit-based immigration program has a fast processing speed. Obtaining South Korean residency status through the deposit method takes only about 2 months from signing the contract and preparing immigration application documents to submitting the application and receiving the residence card. Looking globally, the South Korea deposit-based immigration program is definitely one of the fastest programs to obtain residency status.
VI. Plan for Overseas Chinese Student status to support children's education
The South Korea deposit-based immigration program can be used to plan for Overseas Chinese Student status, supporting children's education. After obtaining South Korean residency status through the deposit method, children can return to China to take the Joint Entrance Exam for Overseas Chinese Students after completing high school in South Korea, allowing them to enroll in domestic Tier-1 universities with lower scores. Children holding South Korean residency status can also enjoy better international school resources in South Korea. There are many international schools in South Korea, and Jeju Island, which is closest to China, has even established an English International Education City. Children can attend international schools on Jeju Island, and parents can easily accompany them while balancing their work and business in China. Holding South Korean residency status can be said to be both offensive and defensive in terms of children's education planning!
Although the deposit threshold for the South Korea deposit-based immigration program has skyrocketed, it still has its own advantages! Global immigration policies are changing rapidly, and planning for overseas status should be done sooner rather than later. The wisest choice is to seize the present! For more information about South Korea deposit-based immigration, please consult our Worldway Immigration.
Latest application conditions for South Korea deposit-based immigration:
Meet the deposit requirements:
(1) Deposit 1.5 billion KRW (approximately 8.23 million RMB) to apply for F2 residency status; the deposit is returned after 5 years, and F5 permanent residency status is obtained;
(2) Deposit 3 billion KRW (approximately 16.46 million RMB) to obtain F5 permanent residency status in one step; the deposit is returned after 5 years;
Commit to a 5-year deposit;
No criminal record;
One person applies, and the spouse and unmarried children can obtain South Korean residency status, with no requirement to explain the source of funds.
Advantages of the South Korea deposit-based immigration program:
Simple application conditions: No requirements for age, education, language, or source of funds;
Simple maintenance of status: No immigration detention requirements; those holding F2 residency status only need to enter the country once a year, for a minimum of 1 day; those holding F5 permanent residency status only need to enter the country once every 2 years;
Fast approval speed: Once funds are in place, approval can be as fast as 3 working days;
Simple requirements for permanent residency: Maintain the investment for 5 years, enter South Korea once a year, and have no criminal record to convert to F5 permanent residency status;
Fund safety: Investment is made into a bank designated by the South Korean government, ensuring the safety of funds;
The whole family can enjoy South Korea's advanced medical services, and children can enjoy high-quality educational resources.
Therefore, immigration should be done early; this is not just talk. Immigration policies are changing rapidly, and immigration programs can be suspended or suddenly changed without warning. The two key elements of immigration are timing and choice! Those who have seized the policy dividends have long realized their immigration dreams, while investors who have missed out should seize the present and get on board quickly.
As a top 500 Asian brand, Worldway Group has been focusing on investment immigration for over 20 years. We possess a powerful project analysis team, a professional documentation team, and a comprehensive customer service team in the industry, providing investors with professional, comprehensive, and diversified services! For over 20 years, Worldway has used professional services to help tens of thousands of families successfully immigrate overseas, making us your best choice for handling immigration!