F-2-7 Visa: A Points-Based Residency Visa
The F-2-7 visa, also known as the points-based residency visa for exceptional talent, is a popular choice among foreigners looking to live and work in South Korea. This visa allows holders to pursue employment or start a business in the country. Recently, there have been reports of individuals receiving five-year extensions or changes to their F-2-7 visas, highlighting the importance of meeting both points and income criteria.
Check out the F-2-7 Visa Manual here
Eligibility and Conditions for Application
Applicants can find detailed eligibility criteria in the visa manual. Generally, this visa is aimed at individuals holding E-series visas, as well as holders of D5 to D9 visas. More specific details can be found on the manual page.
Requirements for Changing or Extending the F-2-7 Visa
To apply for a visa change, applicants must secure a minimum of 80 points. For those with a master’s degree or higher obtained in Korea, employment confirmation is a necessary condition. Points can be accumulated based on income generated from employment and business activities. When extending the visa, maintaining over 80 points along with the necessary income threshold is crucial. If applicants fall short of the required conditions, they may be granted a maximum of two opportunities for a one-year extension.
Maintaining the Visa and Opportunities for Business
Once you switch to the F-2-7 visa, you’re free from employment restrictions and can engage in business activities at your discretion. This flexibility opens up avenues to steadily increase your income. For optimal financial growth, striking a balance between earned income and business revenue is essential. While securing a five-year extension or visa change isn’t a walk in the park, the right preparation and management can significantly enhance your chances. It’s vital to comprehensively evaluate your income requirements, Korean language skills, and educational background to craft more favorable conditions for your residency.