Resort property investors get F-2-8 for ₩1 billion and F-5 after 5 years

Korea gives the residence status F-2 (거주), which places no limit on the kind of work you do, to foreigners who invest a set amount in designated resort property or in public-interest projects. After 5 years of keeping the investment, they can apply for permanent residence F-5 (영주). The two schemes are often mixed up, so this guide separates them. It follows Ministry of Justice Notice No. 2026-29 (법무부고시 제2026-29호), in force from February 17, 2026, and the Ministry of Justice (법무부) stay manual updated in October 2026.

Two investment routes

Both routes cover the investor, the current executives and shareholders of an investing company, and their spouses and unmarried children. F-2 holders in these routes can work in any job (Enforcement Decree of the Immigration Act, Article 23(2)).

Designated areas and periods under Notice No. 2026-29

Eligible property: resort condominiums (휴양 콘도미니엄), general and residential lodging facilities (일반숙박시설·생활숙박시설) and tourist pensions (관광펜션); in Incheon and Mangsang, also housing built together with sports facilities. Tourist hotels are not on the list. Villas have been excluded since May 1, 2018, and Busan's Haeundae Tourist Resort stopped qualifying on May 20, 2026. The minimum is ₩1 billion in every area. It was ₩500 million before the May 2023 notice (₩700 million in Yeosu Hwayang until the January 2025 notice).

Conditions on the money and the property

• The money must be your own overseas capital, sent in your name through a Korean foreign exchange bank (외국환은행). Lawful income earned in Korea, or the proceeds of selling assets in Korea, is accepted as an exception. Income earned during an illegal stay never counts.
• The property must not be leased, mortgaged or seized, and must not be used to earn income. You do not need to run a tourism business with it; renting it out breaks the requirement.
• You are disqualified for 5 years after a Korean prison sentence ends or a suspended sentence becomes final, for 3 years after paying a fine of ₩3 million or more, for 7 years after deportation, for 5 years after a departure order, and for 3 years after submitting false documents. Certain crimes abroad, such as violent crimes, fraud, drug and sexual offences, also disqualify you.
• If you have paid at least US$100,000 or ₩100 million in deposits and interim payments, you can get F-1 (방문동거) while you complete the purchase.

Step by step for resort property

1. While staying in Korea with a valid status, apply for pre-review (사전심사) at the immigration office (출입국·외국인관서) covering the property. Bring the money in through a Korean foreign exchange bank within 6 months, or apply again.
2. After full payment and registration of ownership (or condo membership), apply to change to F-2 at the immigration office covering the property. A registered foreigner applies at the office covering their address. Documents include application Form No. 34 (별지 제34호서식), passport, alien registration card, photo, fee, the sale contract, the register extract (등기부등본), the membership certificate for condos, proof of the foreign currency remittance and a criminal record certificate from your country issued within 6 months. Documents issued abroad need an apostille or consular confirmation.
3. Extend F-2 while the investment stays at or above the minimum. Submit a register extract or membership confirmation issued within 5 days.
4. After 5 years of investment in total, apply for F-5-17. The income and basic knowledge (Korean language) requirements do not apply, but conduct is checked. A spouse and unmarried children can apply for F-5-19.

Investors who do not want to live in Korea can instead get a 3-year multiple-entry C-3-1 visa with stays of up to 90 days, but F-5 requires F-2 and alien registration first.

Public-interest investment

• Principal-guaranteed and interest-free: a deposit in the fund run by the Korea Development Bank (한국산업은행). Profit-and-loss: an investment in a development project in a tourism-centred enterprise city (관광 중심 기업도시).
• ₩1.5 billion gives F-2, and 5 years of keeping it gives F-5-21. Resort property and public-interest amounts can be combined to reach ₩1.5 billion; for F-5, the public-interest part generally needs at least 2 years.
• ₩3 billion deposited in the principal-guaranteed fund, with a pledge to keep it for 5 years, gives conditional permanent residence F-5-25 at once. Withdrawing any part cancels it.
• If you withdraw before getting F-5, you are in principle expected to settle your affairs and leave within 3 months (Ministry of Justice Notice No. 2023-319, 법무부고시 제2023-319호).
• Pre-review: the Ministry of Justice Global Talent Visa Center (법무부 글로벌인재비자센터), or the Jeju office for Jeju residents.

The seller's duties and practical tips

The sales company or developer must report to the immigration office within 14 days if an investor withdraws the investment before getting F-5, and must report investment figures every month (for resort property, by the 5th of the next month). Its chief executive or staff at section-chief level or above may file applications for the investor, but not while the investor is outside Korea (in the public-interest route, a visa issuance certificate is the exception). If the company fails these duties, permits for its investors can be restricted.

Before you buy, check tourism demand in the area. Be careful with any seller who promises rental income or a guaranteed visa: renting the unit breaks the investment requirement, and every permit is decided on review. A lawyer or a certified administrative agent (행정사) can help with the paperwork. Plan your spouse's and children's status and schooling at the same time.