FAQ
How much do I need to invest for real estate investment immigration in JeollaNamdo and Yeosu area? What is the process of getting permanent residency relating to this investment?
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administ
Posted at
2018-01-04
Q/ How much do I need to invest for real estate investment immigration in JeollaNamdo and Yeosu area? What is the process of getting permanent residency relating to this investment?
A/
- Gyeongdo, Yeosu, is the area where the real estate investment immigration has begun since August 19, 2011, to revitalize the marine tourism industry.
- When you purchase residential facilities for recreation, including a condominium, pension, or villa, within Gyeongdo Marine Tourism Complex,
- the purchasing cost should be US $500,000 (or ￦500,000,000) or more.
- the amount of investment per person should be US $500,000 (or ￦500,000,000) or more. - You will get a temporary residence visa (F-1 or F-2) when you complete the purchase of real estate which fits into the conditions mentioned above. You will get a permanent residency (F-5) when you keep possessing the real estate more than 5 consecutive years.
During the period of possession, you don't need to be resident at the real estate. Once you get your permanent residency, you can sell the real estate and still keep the permanent residency.