D-8 Visa Investment Requirement: The KRW 100 Million Rule…

Money isn’t the hard part.

Most D-8 applicants already have the funds. The trouble starts when that money has to become a foreign investment on paper. The certificates have to come from the right institutions, in the right order.

Maybe you’ve already wired the money and set up a company. Then the immigration counter told you your remittance doesn’t count. Or maybe you’re on a D-10 or D-2 visa and wondering if your savings qualify. This guide covers the threshold, the four D-8 tracks, the paper trail, and the renewal check that catches people a year later. D-10 to D-8 status change

Why KRW 100 million only gets you in the door

The D-8 visa minimum capital amount is KRW 100 million per foreign investor. The figure comes from the Enforcement Decree of the Foreign Investment Promotion Act (FIPA). A corporate investor also generally needs at least 10% of the company’s voting shares. Reaching the number makes your money legal foreign investment. It doesn’t make you a visa holder. Immigration reviews the business separately.

Where the rule actually lives

The threshold comes from trade and investment law, not immigration law. That surprises a lot of applicants. The Ministry of Government Legislation (MOLEG) publishes the FIPA and its Enforcement Decree in English.

Under Article 2 of the Enforcement Decree of the Foreign Investment Promotion Act, a foreign investment must be at least 100 million won per foreign investor. (Summary of the statute as published by MOLEG)

The Korea Immigration Service builds the D-8-1 requirement on that FIPA definition. If your money doesn’t qualify as foreign investment under FIPA, it won’t qualify for D-8-1 either.

Three details that trip people up

• It’s per investor, not per company. Two foreign co-founders each need KRW 100 million. A company holding KRW 150 million from two foreigners doesn’t cover both of them.
• It’s counted in won, not dollars. The amount is measured in Korean won when your currency is converted. A transfer that clears 100 million on Monday can fall short on Friday. Send a buffer.
• The shares have to match. FIPA generally requires the foreign investor to own 10% or more of the voting shares. A large cash deposit with a 5% stake doesn’t meet the definition.

Here’s the catch. The minimum is a floor, not a target. Officers also judge whether the business you describe can actually run on the money you invested. A trading company with a real office and supplier contracts looks very different from a “consulting” firm with no clients.

So which D-8 are you actually applying for? That decides whether the 100 million rule applies to you at all.

Which D-8 track are you actually on?

D-8 (Corporate Investment) has four sub-types. D-8-1 covers investment in a foreign-invested company under FIPA. D-8-2 covers founders of a venture business. D-8-3 covers individual enterprise investment. D-8-4 covers technology startups founded by degree holders who complete the OASIS program. The KRW 100 million threshold drives D-8-1. D-8-2 and D-8-4 depend mainly on technology and intellectual property.

The official checklist for each sub-type is on HiKorea. Rules change, so check the list the week you apply. Don’t rely on last year’s forum posts.

D-8 visa corporate investor eligibility

D-8-1 isn’t only for the person who wrote the check. It covers two groups:

1. The foreign investor who manages or operates the foreign-invested company.
2. Executives and essential technical staff sent by a foreign company that invested in the Korean company.

It doesn’t cover ordinary employees. Want to hire a foreign marketing assistant? They’ll need their own work visa, such as E-7. Your D-8 doesn’t extend to them. E-7 visa requirements

The route many graduates take

If you’re on D-2 or D-10 and don’t have KRW 100 million, look at D-8-4. The OASIS (Overall Assistance for Startup Immigration System) program awards points for things like patents, startup training, and competition awards. You need 80 points. The trade-off? You need real technology or IP, not just a business idea.

Once you know your track, the order of your paperwork decides whether your money counts. This is where most D-8-1 files go wrong.

The order that makes your money count

The D-8 visa investment proof timeline runs in a fixed order. First, file a Foreign Investment Report with a foreign exchange bank or KOTRA. Second, remit the funds from abroad and keep the bank’s certificate. Third, incorporate and pay in the capital. Fourth, register as a foreign-invested company within 30 days. Fifth, register the business with the tax office. Then apply for the visa.

Step by step

1. Report the investment first. File a Foreign Investment Report (oegugin tuja singo) at a foreign exchange bank or at KOTRA’s Invest KOREA office. Do this before the money moves.
2. Remit from overseas. Send the funds from abroad to the account the bank designates for the investment. Ask for the foreign currency purchase certificate or inward remittance certificate. This document is your core proof.
3. Establish the company. Register the corporation at the court registry. The bank that holds the capital issues a certificate showing the capital was paid in.
4. Register as a foreign-invested company. FIPA requires this within 30 days after you finish paying in the capital. You’ll receive a Foreign-Invested Company Registration Certificate.
5. Register the business for tax. Apply at the National Tax Service, in person or through Hometax. The Value-Added Tax Act sets the deadline at 20 days from the date the business starts.
6. Apply for the visa. Inside Korea, book a change of status appointment through HiKorea. Outside Korea, apply for a visa at a Korean embassy or consulate.

Here’s what happens when the order breaks. Money that lands before the report can be hard to classify as foreign investment afterward. The bank may not issue the certificate immigration expects. Fixing that can take longer than doing it right the first time.

What about money you already have in Korea?

This matters if you’ve been working or studying here. Immigration offices expect the capital to arrive as a documented inbound remittance. Wages you saved in a Korean account don’t leave that trail. Before you move anything, ask the foreign exchange bank how your funds will be classified. It’s a two-minute question that can save a rejected file.

With the certificates in hand, you’d think the application is simple. It usually isn’t.

The documents that stall most applications

The D-8 visa business registration documents for D-8-1 usually include the application form, passport, photo, and fee. You’ll also need the business registration certificate, the Foreign-Invested Company Registration Certificate, the corporate register, proof of remittance, the shareholder register, and the office lease. Each office can ask for more. Most delays come from mismatched details, not missing pages.

The standard packet

• Integrated application form, passport, and one photo
• Business registration certificate (saeopja deungnokjeung)
• Foreign-Invested Company Registration Certificate
• Corporate register certificate (beobin deunggibu), recently issued
• Remittance or foreign currency purchase certificate showing the investment
• Shareholder register showing your 10%+ stake
• Office lease contract

Some of these can be issued online through Government24 once you have Korean certification set up. Officers can also ask for a business plan or photos of the office. The Immigration Act allows fact-finding checks, including site visits.

Where files get stuck

• Address mismatch. The lease says one address and the business registration says another.
• Name mismatch. Your passport spelling differs from the corporate register or the remittance record.
• Share mismatch. The investment amount looks right, but the shareholder register shows less than 10%.
• Capital that vanished. The capital was paid in, then pulled straight back out.

That last one is serious. Paying in capital and immediately withdrawing it is known as sham capital payment. It’s a criminal offense under the Commercial Act, not just a visa problem.

Once you’re approved, register for your ARC if you haven’t already. ARC registration after status change

Approval feels like the finish line. It’s not. The first renewal is where your investment gets tested again.

Why renewals fail even when the money is still there

D-8 visa renewal depends on maintaining your investment and running a real business. At extension, immigration checks that the invested capital is still in the company. It also checks that the business actually operates. Expect to show tax payment certificates, VAT or corporate tax filings, and financial statements. If your stake fell below the threshold or the company sat idle, the extension can be refused.

Spending the money is normal

You’re allowed to use the capital. Rent, equipment, inventory, and salaries are what investment is for. The investment stays on the books as paid-in capital. What worries officers is different. It’s capital reduction, share transfers that drop you under 10%, or money moved out for personal use.

What a strong renewal file shows

• Tax filings with real revenue, or clear costs if you’re still ramping up
• A tax payment certificate showing no unpaid taxes
• Payroll or employment insurance records if you hire staff
• An active office at the registered address
• An up-to-date Foreign-Invested Company Registration Certificate that reflects any changes

Here’s the hard truth. A company with zero sales, zero staff, and zero tax activity is hard to defend. The deposit alone doesn’t prove a business.

How long each grant lasts

Under the Enforcement Rule of the Immigration Act, D-8 can be granted for up to 5 years at a time. The officer sets the actual period based on your file. A weak first year can mean a short extension, not the maximum.

The longer road

D-8 isn’t a dead end. According to the Korea Immigration Service, an F-5-5 permanent residency route exists for investors who put in USD 500,000 or more under FIPA and employ five or more Korean nationals. That bar is high. Still, it shows why the renewal records matter. The same tax and payroll history supports both. F-5 permanent residency

Your next move, in the right order

Pick your D-8 track before you send any money. Confirm with a foreign exchange bank or KOTRA how your funds will be classified. Remit at least KRW 100 million per investor, plus a buffer for exchange rates. Register as a foreign-invested company within 30 days. Then register the business, sign the lease, and book immigration.

A short checklist

1. Choose D-8-1, D-8-2, D-8-3, or D-8-4 based on money versus technology.
2. File the Foreign Investment Report before remitting.
3. Remit from abroad and keep every bank certificate.
4. Check that names, addresses, and share percentages match across every document.
5. Keep the capital in the company and keep your tax filings current.
6. Start a renewal folder on day one.

Why start the renewal folder now? Because the documents you’ll need in a year come from how you run the business this month. The investment gets you the visa. Your records keep it.