Making Money Moves
If you are interested in investing in a nations with high growth potential, you should consider investing in South Korea. It is considered to be one of the most innovative nations in the world. In fact, it was ranked 1st on the Bloomberg Innovation Index in 2018 and 2019. The financial market of South Korea is still at a level of a developing country, and the government vigorously supports starting businesses. The South Korean government has been historically right-leaning and business friendly on its policies. This means that if you are looking to secure a high-growth with moderate risk investment option, South Korea is an ideal pick.
To make a major investment as a foreigner in South Korea, there are two main options: Corporate Investment, and Real Estate Investment. The corporate investment is obviously an investment in a corporation or other business entities in a Korean company that operates in Korea. This type of investment carries a considerable risk, but offers a high potential return. Real estate investment, on the other hand, offers the exact opposite. The risk is quite moderate considering that most of the financial resources in Korea is tilted to real estate's favor. However, the return is safer, steady, and considerably lower in comparison to the corporate investment.
But that is only natural considering that the relationship between risk and reward in financial investment. So, the decision would depend on the risk appetite of the investor. Naturally, when investing in Korea, you should consult experts. The experts are corporate lawyers, investment bankers, management consultants, financial planners, and administrative lawyers. You may be surprised that I included administrative lawyer is included on the list. This is because the role of lawyers are separated in Korea. Doing business in Korea involves you visiting Korea due to the cultural and customary practice in Korea. That means that you have to be in Korea physically. In other words, you have to get a visa to carry out business in Korea.
Need for Administrative Lawyer
Unlike other countries, administrative lawyers have sole authority over immigration law process. Although there are lawyers who can provide some services in immigration process, administrative lawyer has a proper training and rights to carry out immigration process in Korea. As a result, most immigration lawyers are administrative lawyers.
So, when you are considering to invest in Korea, do not make a mistake of naively believing in a lawyer to take care of all the legal sides. There are many parts to the legal process and the roles are clearly divided.
The exact requirements for each visa varies for both F-2-8 and D-8. So, I will write about those in separate posts, but I would like to discuss the minimum requirements for them. For F-2-8 (Real Estate Investor) visa, the minimum amount of money that is required are between 500 million won and 600 million won. For D-8, the requirement is 100 million won, which is significantly lower. As discussed previously, this is because of the varying risks of each types of visas.
It is important to note that your visa status depends on the type of investments. So, it is crucial to involve an administrative lawyer from the early stage. That will allow you to plan your investment accordingly so that you can comply with the legal requirements without deviating from your investment plan too much.