Immigrant Investor Scheme for Public Business

The Immigrant Investor Scheme for Public Business (IISPB) is South Korea's passive capital investment immigration program, allowing foreign nationals to obtain F-2-12 residence status by depositing a specified amount in a government-managed public fund operated by the Korea Development Bank (KDB). The deposited funds are used by KDB to provide low-interest loans to small and medium-sized enterprises and smart factories. Investors may also qualify for immediate permanent residence (F-5-25) with a higher investment. The program requires no educational, professional, or language qualifications.

• Minimum investment of KRW 1.5 billion (~USD 1.1 million) for F-2-12 residence, or KRW 3 billion (~USD 2.4 million) for F-5-25 immediate permanent residence
• Investment funds must be remitted from overseas — domestic funds do not qualify
• Clean criminal record
• No outstanding tax delinquencies (unless resolved)
• No more than four prior violations of the Immigration Act
• Must undergo preliminary investment screening in person at a Korea Immigration Service office in South Korea

• Application form
• Valid passport and photographs
• Investment deposit confirmation from Korea Development Bank
• Proof of overseas fund remittance (foreign exchange certificate)
• Family relationship certificate (for dependants)
• Criminal background check
• Proof of tax compliance

F-2-12 residence is granted for 2 to 3 years and is renewable as long as the investment is maintained. Early withdrawal of funds before the 5-year maturity period results in visa cancellation. After maintaining the investment for a minimum of 5 years, holders may apply for F-5 permanent residence. Investors who deposit KRW 3 billion receive F-5-25 permanent residence immediately. F-5 status remains valid even after the investment principal is returned.

The investor's spouse and unmarried children receive F-2 status alongside the principal investor, granting them unrestricted economic activities including employment, business, and study. When the investor transitions to F-5 permanent residence after 5 years, family members become eligible for F-5-19 status. No separate investment or income requirement applies to dependants.

South Korea taxes residents on worldwide income. Investors who spend 183 or more days per year in South Korea are considered tax residents under the Income Tax Act. Double taxation agreements with numerous countries may reduce the overall tax burden. National Health Insurance enrollment is mandatory for all F-2 and F-5 visa holders residing in South Korea for 6 months or more.

The investor must undergo preliminary investment screening in person at a Korea Immigration Service office, which requires at least one visit to South Korea. The screening confirms the investor's identity, source of funds, and eligibility. After approval, the investor opens an account with Korea Development Bank and deposits the required amount using funds remitted from overseas. Two investment options are available: a principal-guaranteed, interest-free option (principal returned after 5 years with no interest), or a risk-based option investing in designated regional development projects where the investor bears profit or loss risk. Once the deposit is confirmed, the investor applies for F-2-12 status at the local immigration office. Subsequent administrative procedures may be handled through a representative with a notarised power of attorney.

Upon receiving F-2 status, the investor must register as a foreign resident and obtain an Alien Registration Card (ARC) within 90 days of entry. F-2 holders must obtain a re-entry permit for extended departures. F-5 permanent residents may leave and re-enter freely but must return within 2 years to maintain their status.