Should you be an exceptional foreign trader seeking heightened domestic stay convenience, the D9 Trade Visa offers an inventive system tailored to your needs. This program features a distinctive scoring mechanism evaluating trade expertise, domestic stay experiences, and more.
The Trade Visa is an innovative system enhancing domestic stay convenience for outstanding foreign traders. Diversifying eligibility criteria, the system permits permits and changes in residence status for those scoring 60 points or more out of 160. The Trade Visa actively allows changes in residence status for long-term residents with rich domestic stay experiences. However, extension permits are granted only for individuals with trade performance.
* Korean proficiency (TOPIC 3+) and a score of 60 points or more in the Trade Visa scoring system.
* Individuals must score at least 10 points in essential categories and hold a business registration certificate.
For joint representatives, the total score is divided, and only the resulting score is recognized. Business registration must be under the 'trade' category, and a lease agreement for an independent business facility in the individual's name is required.
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 conclusion, the D9 Trade Visa introduces an innovative scoring system, enhancing eligibility criteria for foreign traders and emphasizing a balanced approach to residency changes. This nuanced policy reflects a commitment to accommodating valuable contributors while safeguarding against misuse. Pearson & Partners, a Korea-focused consulting firm, stands ready to facilitate D9 Visa processes, offering expertise in incorporation, tax accounting, and visa services. For tailored support in navigating Korean business regulations, contact us.