SOUTH KOREA RESIDENCY BY INVESTMENT

Summary

Highlights

• South Korea ranks 10th globally by nominal GDP, offering one of the fastest internet speeds. 📈
• The program targets high-net-worth individuals, often requiring substantial investments and income. 💼
• Jeju Island is a focal point for real estate investment, providing a pathway to residency. 🏝️
• Investors and their families receive benefits akin to South Korean citizens, such as education and healthcare. 📚
• Language proficiency and military service are required for citizenship, with some exceptions. 📜
• Dual citizenship is typically not allowed, complicating some investors' plans. ❌
• Naturalization laws have evolved, accommodating significant contributors to the country. 🔄

Key Takeaways

• South Korea offers a residency by investment program, primarily through real estate on Jeju Island. 🏡
• A minimum investment of 700 million Korean Won is required to qualify for the F2 visa. 💸
• Permanent residency (F5 visa) can be obtained after maintaining the investment for five years. 📜
• High living standards include excellent healthcare and public services for residents. 🏥
• South Korea has a world-renowned passport with access to 189 countries. 🌏
• Mandatory military service and high taxes are notable drawbacks. ⚠️
• It's crucial to evaluate whether the significant financial commitment aligns with personal and financial goals. 🤔

Overview

Chapters

• 00:00 - 00:30: Introduction to South Korea South Korea is located in East Asia, occupying the southern part of the Korean Peninsula and sharing a land border with North Korea. It has a population of over 51 million people, with about half residing in the Seoul Capital Area, making it the fifth largest metropolitan area globally. The June Struggle in 1987 marked the end of authoritarian rule, and today, South Korea is recognized as one of the most advanced democracies with a high level of press freedom.
• 00:30 - 01:00: Political and Economic Overview This chapter addresses the persistent issues of corruption and political scandals in South Korea, highlighting that half of the former South Korean presidents are currently imprisoned for crimes including abuse of authority, bribery, and embezzlement. Despite these challenges, South Korea is recognized as a highly developed nation, boasting the third highest ranking on the Human Development Index in Asia. The country is part of influential global organizations such as the OECD's Development Assistance Committee, the G20, and the Paris Club.
• 01:00 - 02:00: Introduction to Residency by Investment Program The chapter provides an overview of a Residency by Investment Program, discussing its benefits and drawbacks. The context is set with the country's impressive economic position, ranking as the world's 10th largest by GDP, with high-speed internet and significant global trade standing. The program appears to target individuals earning above $150,000 annually or with a net worth exceeding $1 million, specifically those interested in legally minimizing their income taxes.
• 02:00 - 03:00: Details of the Immigrant Investor Scheme The chapter begins with a brief guide on how to quickly obtain a second passport, potentially in as little as three months. It suggests three main actions for viewers: 1. Subscribe to the channel to receive new videos automatically. 2. Engage with the content by leaving questions or comments for further interaction. 3. Visit the website www.citizenshipquickly.com, navigate to the application section, fill out the provided questionnaire, and submit it.
• 03:00 - 04:00: Education and Medical Benefits The chapter discusses investment-based citizenship and residency programs across various countries, highlighting the immigrant investor scheme in South Korea. This scheme enables investors to obtain residency through real estate investment, initially introduced for Jeju Island in February 2010.
• 04:00 - 05:00: Visa and Tax Information The chapter discusses a government program that grants F2 residential status to foreigners who invest a specific amount in real estate designated by the Minister of Justice. These foreign investors can later obtain F5 permanent residence if they retain their real estate investments for a minimum duration of five years. The chapter further clarifies that, following the acquisition of permanent residency, investors receive an F2 visa.
• 05:00 - 06:00: Citizenship and Nationality Rules The chapter discusses the rules surrounding citizenship and nationality, particularly focusing on investment opportunities in South Korea. It explains that if an individual invests approximately 700 million Korean won (around 660,000 US dollars) into real estate designated by the Ministry of Justice, they can acquire the right of permanent residence (F5 visa) after five years. Additionally, the chapter touches on educational benefits for investors, who are allowed to access public education as Korean citizens or register at an international school in Jeju.
• 06:00 - 07:00: Evaluation of the Residency Program The chapter 'Evaluation of the Residency Program' discusses the benefits and provisions of a residency program for investors. It highlights that medical insurance will be extended to investors, akin to the coverage Korean citizens receive. Additionally, it outlines the flexibility in real estate transactions, allowing investors to freely divest their holdings upon obtaining permanent residency. The chapter also notes that the investors' spouses and family members are permitted to seek employment or participate in any commercial activities in the country.
• 07:00 - 10:00: Call to Action and Program Recap The chapter focuses on South Korea's global standing in terms of passport power and provides details on the country's tax structure. South Korea holds the second position worldwide, alongside Germany, for visa-free access to 189 countries and territories. It then breaks down the national tax system, highlighting a corporate income tax of 25%, a personal income tax of 42%, and a sales tax of 10%. Additionally, there's a social security tax of 18.94%, which is divided between the company (9.96%) and the employee (8.98%).

SOUTH KOREA RESIDENCY BY INVESTMENT Transcription

• 00:00 - 00:30 south korea is a country in east asia constituting the southern part of the korean peninsula and sharing the land border with north korea they're around 25 million people or about half the country's population of more than 51 million people that live in the seoul capital area the fifth largest metropolitan area in the world the june struggle led to the end of the authoritarian rule in 1987 and the country's now considered among the most advanced democracies with the highest level of press freedom
• 00:30 - 01:00 however corruption and political scandals remain a serious problem with half of all living former south korean presidents currently in prison for various crimes ranging from abuse of authority bribery and also embezzlement now south korea is a highly developed country ranking is the third highest country on the human development index in asia it is a member of the oecd's development assistance committee the g20 and also the paris club uh it's a co
• 01:00 - 01:30 its economy ranks as the world's 10th largest binomial gdp its citizens enjoy one of the world's fastest internet and connection speeds and the country is the world's fifth largest exporter and eighth largest importer all right now in this video i'm going to give you an overview of the program and the advantages and disadvantages of this residency program uh also if you are currently making at least 150 000 u.s dollars a year or have a net worth of at least one million us dollars and you want to legally get your income taxes to zero
• 01:30 - 02:00 or how to get a second passport as quick as three months do three things hit the subscribe button the right of your screen here and you'll get new videos as they come out automatically and don't forget to hit the notification bell next to the subscription button and number two is i'd like to hear from you if you got a question or comment just put it below and i'll be glad to get back with you and number three is go to our website www.citizenshipquickly.com and hit the top bar of the page where it says apply with us and then fill out that questionnaire and then at the bottom of the questionnaire
• 02:00 - 02:30 hit that bottom part that says send it to us so we can help you get started we deal with a lot of citizenship by investment and residency by investment countries i think you'd be interested to learn about all over the world okay now the in immigrant investor scheme for real estate is a program that you can actually get involved with to actually get residency in south korea it was introduced for jay ju island in february of 2010
• 02:30 - 03:00 this is a government program which gives what's called f2 residential status to foreigners investing a certain amount of money in real estate designated by the minister of justice and the foreign investors will get what's called an f5 permanent residence uh if they hold on to the purchases of the actual real estate for at least five years now to get the uh permanent residency uh once you get the permanent residency investors gain what's called the f2 visa
• 03:00 - 03:30 if they invest up to 700 million korean wine which is a roughly about 660 000 us dollars at the current exchange rate into real estate designated by the ministry of justice and then acquire the right of permanent residence which is the f5 which is after five years now education investors can get public education as korean citizens do or they can register at the international school in jeju's
• 03:30 - 04:00 global education city uh medical insurance uh uh will be uh actually uh provided uh investors have uh health coverage uh as koreans uh uh also do korean citizens uh the real estate transaction uh as far as that goes investors can freely divest real estate holdings uh after you know getting the permanent residency and investors spouse or family members can get a job or engage in any sort of commercial activities all right now
• 04:00 - 04:30 south korean citizens had visa free or visa free unrivaled access to 189 countries and territories ranking the south korean passport second in the world tied with germany all right now the income tax is as follows as a corporate income tax of 25 there's a personal income tax of 42 percent a sales tax of 10 there is a social security tax of 18.94 and the breakout of this nine point nine six percent is paid by the company and eight point nine eight percent is
• 04:30 - 05:00 paid by the employee now expatriate steam residents are subject to the korean tax on their worldwide income including their investment income all male citizens between the ages of 18 and 38 are required to perform at least two years of compulsory military service the gdp per capita in south korea is 31 363 u.s dollars a year healthcare is excellent in south korea uh dual citizenship is not allowed except in rare instances which i'm going to
• 05:00 - 05:30 explain to you all right now individuals automatically receive south korean nationality at birth if at least one parent is a south korean national whether they're actually born within south korea or overseas now foreign permanent residents over the age of 20 may naturalize as south korean citizens after residing in south korea for more than five years and demonstrate proficiency in the korean language the residency requirement is reduced to three years for individuals with a south
• 05:30 - 06:00 korean parent who were not already south korean citizens and two years for applicants with south korean spouses now this is further reduced to one year for applicants who have been married to south koreans for more than three years minor children cannot naturalize independently but may apply for a foreigner parent who is also naturalizing successful naturalization applicants are typically required to renounce their previous nationalities with one year
• 06:00 - 06:30 within one year unless they're naturalized through marriage now individuals who are granted natural natural nationality by the ministry of justice specifically for the exceptional occupational ability or contributions made to the country are also exempt from this requirement uh exempt individuals uh must ultimately make a a declaration not to exercise their foreign nationality within south korea now before 1998 south korea nationality
• 06:30 - 07:00 was transferable by dissent to children of south korean fathers but not mothers individuals who could only trace their south korean ancestry through the maternal line before this year are not south korean citizens at birth now south koreans residing abroad who voluntarily acquire a national a foreign nationality automatically have their south korean citizenship revoked and are obligated to report this change of status to the ministry of justice south korean nationals may also lose
• 07:00 - 07:30 south korean nationality when they obtain a foreign national status either indirectly or involuntarily through marriage adoption or legal recognition of parentage now these individuals have a six month period to make a formal declaration of their intent to retain south korean nationality female citizens who are also foreign nationals at birth must declare the intention to retain or renounce south korean nationality before the age of 22 years old
• 07:30 - 08:00 male citizens who obtain foreign nationality by birth must make this declaration before the 31st of march of the year they become age 18 years old dual nationals who retain south korean nationality after this point are subject to construction orders and are permitted to renounce south uh korean nationality until they have been completed in military service former south korean nationals may subsequently apply for nationality restoration subject to the renunciation
• 08:00 - 08:30 of their previous nationalities however former nationals who reacquire south korean nationality after reaching the age of 65 years old with the intention of permanently residing in south korea are exempt from this requirement all right i'm going to give you my evaluation of this program and it is as follows south korea has one of the best passports in the world uh having visa free travel to not only the shenzhen countries but also the usa
• 08:30 - 09:00 australia canada and also new zealand uh i don't like the fact that there are mandatory military requirements to get the citizenship and you would have to pass a language test uh you have very high taxes on worldwide income in south korea and dual citizenship is not allowed in most instances there's also a pretty high threshold to invest as far as what you have to investigate the residency especially when you have to pay really high
• 09:00 - 09:30 income taxes uh remember too that there is no guarantee that you're going to get the passport you know after you put in all this time period and invest in all this money so this is something you're going to have to think about too to get that citizenship and pass form uh if you're making at least 150 000 u.s dollars a year or you want to get your taxes to zero close to zero do three things hit the subscribe button at the right of your screen here and you'll get new videos automatically as they come out and number two is i'd like to hear from you if you got a question or comment
• 09:30 - 10:00 just put it below and i'll get back with you to see what i can do to help solve whatever problem you got and um number three is go to our website www.citizenshipquickly.com hit the top button that says apply with us a questionnaire form comes up fill those questions out and then hit the bottom of the questionnaire where it says send it to us so we can help you get started we deal with a lot of citizenship by investment and residency by investment countries i think you'd be interested to learn about and thanks for watching i'll look forward to talking to you next video
• 10:00 - 10:30 take care