Long Term Residence Visa F2

Residence Visa F2

• Residence visa F2 is the most preferred the Long-Term Residence Visa for foreigners living in Korea before obtaining Permanent Residence Visa F5 because F2 Visa can be extended if certain requirements such as income are fulfilled.
• The F2 Visa holder will be eligible to apply for Permanent Residence Visa F5 after 3 years.
• The Residence Visa F2 holders do not require a company’s guarantee like Koreans for getting a job, and do not require an employer’s consent for a company change although Work Visas holders such as E7 are required with a company guarantee for visa extension and job change.
• The Residence Visa F2 holders are legally allowed to work or can get a business license without any restriction although Family Visit F1 or Family Visa F3 holders are not allowed to work in Korea.

The Advantage of Residence Visa F2

1. Permanent Residence Visa F5-16 can be granted.

1. The F2 Visa holder will be eligible to apply for Permanent Residence Visa F5-16 after 3 years.

2. It is easy to extend the F2 Visa.

1. The F2 Visa holder can stay in Korea on a long term because the F2 Visa is easily extended if your income is qualified.

3. Letter of Company guarantee and employer’s consent are not required.

1. The Residence Visa F2 holders do not require a company’s guarantee like Koreans for getting a job, and do not require an employer’s consent for a company change

4. Working in all occupations is allowed.

1. The Residence Visa F2 holders are allowed to work in all kinds of occupations like Koreans.

5. Business activities are allowed.

1. The Residence Visa F2 holders can engaged in all kinds of business activities without any restrictions unless prohibited in the Laws.

6. Free real estate transactions are guaranteed.

1. The Residence Visa F2 holders can acquire real estates such as buildings, houses, apartments without any restrictions, take out loans with the purchased real estates as collateral, and transfer business income and real estate sales funds to overseas if the requirement is fulfilled.

7. Attending in a school is allowed.

1. The Residence Visa F2 holders can study in a school without a student visa or permission in Korea.

8. Signing up for the major social insurances is allowed.

1. The Residence Visa F2 holders are covered by the 4 major social insurances such as Health Insurance, Unemployment Insurance, National Pension, Industrial Accident Insurance.

9. The family members get the same benefits.

1. The Residence Visa F2 holder’s spouse, underage children can receive the same benefits.

The Types of Residence Visa F2

The typical Types of Residence Visa F2 are (1) Residence Visa F2-7 on a Point System (2) Residence Visa F2-99 for a Long-Term Stayer.

	Category	Requirement
F2-7	Point System	3 years of Legal Stay with 80 points
F2-99	Long-Term Stayers	5 years of Legal Stay

[Remark]

1. The Point System of F2-7 has a total of 130 points, and the period is granted differently for the points.
2. Some applicants can be granted the full exemption or the partial exemption on the Requirements.

Please contact us for other types of Residence Visa F2.

Residence Visa F2-7 on the Point System

• Any Legal Stayer can apply to Residence Visa F2-7 on the Point System if the Legal Stayers have stayed in Korea for more than 3 years with more than 80 points out of a total of 130 points.
• The Korea Immigration & Integration Program KIIP is not mandatory required.
• The Residence Visa F2-7 holders can apply to Permanent Residence Visa F5-16 after 3 years.

The Evaluation of Residence Visa F2-7 on the Point System

The applicant is evaluated for the following 3 Requirements and would be exempted from all or some of the Requirements below, depending on
the conditions of the applicant.

1. Requirements of Visa Types

• (1) The Applicant must hold one of the Visas : Professor E1, Language Teacher E2, Researcher E3, Technical Advisor E4, Professional E5, Entertainer E6, Employment E7, Reporter D5, Religion D6, Dispatched Staff D7, Investor D8, Trader D9, Student D2, Job Seeking D10
• (2) A Master or PhD from a specialized science and engineering university or research institution, obtaining an employment contract.

2. Requirement of Legal Stay

• The applicant must stay in Korea for at least 3 years.

3. Requirements of Good Conduct

• (1) Those who violate the law for three years will be deducted from the total score obtained. (2) Certificate of Non Criminal Record Required from Home Country and any countries where you stayed for more than six months.

It is important to get the higher points on Career, Income, Degree, and KIIP, etc.

The Score Table for Residence Visa F2-7 on the Point System

Residence Visa F2-99 for Long-Term Stayers

• Any Legal Stayer who has legally stayed for more than 5 years in Korea can apply to Residence Visa F2-99 for a Long-Term Stayer.

The Evaluation of Residence Visa F2-99 for Long-Term Stayers

The applicant is evaluated for the following 5 Requirements and would be exempted from all or some of the Requirements below, depending on the conditions of the applicant.

1. Requirements of Visa Types

1. The Applicant must hold one of the Visas : Arts D1, Reporter D5, Dispatched Staff D7, Investor D8, Trader D9, Professor E1, Language Teacher E2, Researcher E3, Technical Advisor E4,
   Professional E5, Entertainer E6, Employment E7, Family Visit F1, Family Member F3.

2. Requirement of Legal Stay

1. The applicant must stay in Korea for at least 5 years.

3. Requirement of Financial Capability

1. (1) Net Assets : Min. KRW30 Million
   ※ In the case of adding up the family assets, the applicant must have min. KRW 15 million.
2. (2) Min. GNI is required. (GNI KRW37,500,000 in 2024 year)
3. (3) Applicants must be employed or engage in business.

4. Requirement of KIIP

1. (1) The Certificate of 4th Level on Korea Immigration and Integration Program is required,
2. (2) Graduation from regular schools, a University, a Graduate School or
3. (3) 81 points in the Preliminary Evaluation of KIIP.

Requirements of Good Conduct

1. Those who violate the Laws for three years are not allowed to apply.

The Procedure of Residence Visa F2

Some applicants can be granted the full exemption or the partial exemption on the F5 Requirements on Non Criminal Record, Income Certificate, KIIP, etc. Please contact us for the exemption qualification.

Inquiry of Residence Visa F2

Q & A

How much income do I need to apply for Residence Visa F2 ?

1. You need to have the GNI income. However, it is possible to apply to F2 in case of lower of GNI income because Residence Visa F2-7 on the Point System is calculated on other items, such as age, degree, KIIP completion, domestic university graduation, community service, and recommendation letter, and Residence Visa F2-99 for Long-Term Stayers is considered to combine family member’s income.

Do I have to complete Level 5 in KIIP to apply for F2 ?

1. Residence Visa F2-7 on the Point System does not require Certificate of KIIP. However, Residence Visa F2-99 for Long-Term Stayers is exempted from KIIP if the applicant graduated from an elementary school, a middle school, a high school, a university, a graduate school in Korea.

The Check Points for F2 Application

1. The Requirements of Visa Type

Residence Visa F2 is subject to Visa Types on the Foreigner RegistrationCard. Therefore, you must choose the proper F2 Type after checking the Visa Type you hold.

2. The Requirement of Legal Stay Duration

The Requirement of Legal Stay Duration for Residence Visa F2 is divided into (1) Exemption from Legal Stay Duration (2) 3-year stay in Korea (3) 5-year stay in Korea, depending on the application qualifications. Therefore, you must check Legal Stay Duration in Korea before choosing F2 Type.

3. Consideration for Children’s Age

Your spouse and children under 18 year-old can be instantly granted F2 with you by exempting Income Certificate. However, your children are not allowed to apply F2 under your family members if they reach to 18 years-old, meaning that they must submit Income Certificate independently.

Inquiry on Other Visas

DaeHan Public Administrative Attorney’s Office has specializes in Foreign Invested Corporations (FIC) including Korea Branches and Liaison Offices, Immigration on Public Bond Investment and Real Estate Investment, and has provided Immigration & Investment Solutions, Consulting on D8, D7 Visa, Management, Tax and Marketing consulting. We can submit any application for licenses or permits on the behalf of clients.

Please contact us for the following issues. (1) Establishment of Branches & Liaison Offices (2) Dispatch of Staffs on Long-Term Visas (3) Immigration on Public Bond Investment (4) Immigration on Real Estate Investment (5) Visa Consulting on D8, D7, F5, F2 (6) Family Invitation & Other Immigration Issues (7) M&A & Technology Outsourcing (8) Stock
Market Investment (KOSPI, KOSDAQ) (9) Management & Tax Consulting (10) Marketing & Trading Consulting.