Introduction
Are you dreaming of living in Korea as a digital nomad beyond the digital nomad visa, without being tied to the traditional Korean work ethic?
Today, I want to tell you about a great opportunity that allows you to stay in Korea for up to two years with minimal obstacles. After that, you can establish your own company and live in Korea indefinitely. Whether you're a freelancer, remote worker, or aspiring entrepreneur, this visa option gives you the freedom and flexibility to live and work in Korea on your own terms. With this visa, you can enjoy all the benefits of living in Korea while pursuing your professional goals without any worries about legal issues or barriers.
If you're like me, simply traveling to Korea is no longer enough. I needed to find a way to stay longer than the limited visa time, such as the working holiday visa.
I will share my personal experience with the OASIS (Overall Assistance for Start-up Immigration System) Visa Program in Korea. I will discuss how I came to know about the program, my journey through the application process, and the overall costs involved. Stay tuned to learn more about my experience with the OASIS Program!
Startup Visa
After doing a Working Holiday in Korea, my dream to live in Korea has become bigger than ever. I couldn't imagine going back to Germany and living a "normal" life anymore. I couldn't find any feasible options out there. One thing I found is to invest 100 Million Won ($75,000) into a business. One day, while walking down the street looking for something to eat, I met a friend and asked her what visa she was on. That moment opened a whole new option I had never considered or heard about. It's called the OASIS (Overall Assistance for Start-up Immigration System) Program or the Startup Visa! After doing some research and hearing my friend talk about it, I found the process quite simple. Today, I'm going to break it down for you.
You don't need to create the next Facebook or Uber or raise a large amount of money. Opening a simple online business is a more accessible and feasible way to live in Korea under the OASIS Program.
Who is this visa for?
This visa is ideal for people who want to stay in Korea long-term without being dependent on a working visa sponsorship. It is particularly suitable for those who have experience in remote work or freelancing and wish to establish an online business or service in Korea. This visa allows you to have the freedom to continue your freelance work or take on client projects outside of Korea while financing your startup in Korea. As a freelance cloud engineer and web developer myself, this visa can provided me with the flexibility and opportunity to pursue my entrepreneurial goals in Korea.
Who is this visa not suitable for?
While the OASIS Startup Visa offers great opportunities, it may not be suitable for everyone. Here are some cases where this visa might not be the best option:
- Visa-Only Seekers: This visa is NOT for those who just want to stay in Korea. You must have a genuine intention to start and run a business, backed by a solid plan and professional skills.
- Insufficient Capital: If you don't have enough savings to support yourself (minimum $6,000) and cover business setup costs, this visa path could be challenging.
- Recent Graduates: Those who have just graduated and lack practical work experience might find it difficult to develop and execute a viable business plan.
- No Work Experience: The visa requires you to run a business, which can be challenging without prior work experience or understanding of business operations.
- Those Seeking Traditional Employment: If your goal is to work for a Korean company, other visa types like the E-7 might be more appropriate.
- Short-term Visitors: This visa requires significant commitment and investment of time. It's not suitable for those looking for short-term stays in Korea.
It's important to carefully evaluate your circumstances, experience, and resources before pursuing this visa option. Remember, immigration officials will scrutinize your business plan and background to ensure you're genuinely committed to establishing a business in Korea.
Requirements
To apply for the OASIS Startup Visa in Korea, the main requirements are as follows:
- Bachelor's degree
- Personal savings in your bank account to prove self-sufficiency for a certain period of time ($6000 for 6 Months)
These requirements demonstrate that you have the necessary qualifications and financial resources to support yourself while pursuing your startup venture in Korea.
Stages and Timeline
- Come on a Tourist Visa: Initially, you need to enter Korea on a tourist visa, which allows you to stay in the country temporarily.
- Take a Mandatory OASIS Class: After arriving in Korea, you are required to attend a mandatory OASIS class. This class provides information about the OASIS Program and the startup visa application process. Choose One
- OASIS 1: Basic Intellectual Property Course
- OASIS 4: Basic Startup Class
Check the Course Schedules:
- Change from Tourist Visa to D-10-2 Startup Prep Visa: Once you have completed the OASIS class, you can apply to change your status from a tourist visa to a D-10-2 Startup Prep Visa. This visa is specifically designed for people who want to start a business in Korea. You can stay on that Visa for up to 2 years. It’s valid for 6 Months with up to 3 times extension.
- ~ 6.000.000₩ Bank Statement
Required Documents D-10-2
Residence Agreement
Personal Bank Statement
Application Form
Passport + Copy
Photo ID
Degree Certificate(Apostilled) or Recommendation Letter
OASIS Certificate
Business Plan
- Take Mandatory OASIS Classes: As part of the OASIS Program, you will need to attend mandatory OASIS classes. These classes include the following:
- OASIS 1: Basic Intellectual Property Course
- OASIS 2: Advanced Intellectual Property Course (OASIS 1 Required)
- OASIS 4: Basic Startup Class
- OASIS 5: Mentoring Session
Check the Course Schedules:
These classes provide valuable knowledge and skills related to intellectual property and startup basics, which are essential for your journey through the OASIS Program.
- Apply for a Patent: As part of the application process, you will need to apply for a patent for your business idea. This step is necessary to demonstrate the uniqueness and feasibility of your startup. Don’t worry it’s not that complicated you don’t need to even get accepted you just need to have the application.
- Establish a Corporation: After obtaining the patent application approval, you need to establish a corporation for your startup in Korea. This step involves registering your business entity and completing the necessary legal and administrative processes to establish your company.
- Change From D-10-2 Startup Prep Visa to D-8-4 Startup Visa: After obtaining the patent, you can proceed to change your visa status from a D-10-2 Startup Prep Visa to a D-8-4 Startup Visa. This visa allows you to officially establish and operate your startup in Korea.
These steps outline the process of obtaining the OASIS Startup Visa in Korea, which offers an alternative option for people seeking to live and start a business in the country.
Point System
Source: Global Startup Center: OASIS
Let me break down the point system for you. You need at least 60 points in total and must have at least one item from the Prerequisites category. The most straightforward prerequisite is applying for a utility or design patent (5 points, mandatory).
How to Accumulate Points
- OASIS Classes (Easiest Method)
- OASIS 1: Basic Intellectual Property Course
- OASIS 2: Advanced Intellectual Property Course
- OASIS 4: Basic Startup Class
- OASIS 5: Mentoring Session
- Language Proficiency
- TOPIK (Korean Language Proficiency Test) scores
- KIIP (Korea Immigration and Integration Program) completion
Alternative to Bachelor's Degree
If you don't have a bachelor's degree, you can still qualify for the visa if your product idea is strong enough to receive a recommendation letter from the Global Startup Center.
Key Requirements Summary
- Bachelor's degree OR Associate's degree (Korean institutions only) OR Global Start-up Immigration Center Letter
- 60 or more points (must include at least one required item)
Important Note: Recent developments indicate that the OASIS program has become more selective in its application process. The evaluation committee now places greater emphasis on the technical innovation and feasibility of business proposals.
Before applying for OASIS courses, ensure you have:
- A well-researched and technically-oriented business plan
- A clear connection between your professional background and your proposed tech solution
- A convincing pitch that demonstrates how your startup will contribute to Korea's tech ecosystem
Your business proposal should effectively demonstrate how you'll leverage technology (such as AI, platforms, or digital solutions) in your startup. This will be crucial throughout the entire visa process, from your initial OASIS course application to your final visa.
Seoul Global Startup Center
The Seoul Global Startup Center (GSC) has become a game-changing resource for foreign entrepreneurs in Korea since its 2024 opening. This government-backed institution serves as a comprehensive support hub for international founders looking to establish their businesses in Korea.
Key Services Provided by GSC:
- Free business consultations with industry experts
- Legal support for contracts and business documentation
- Assistance with business registration process
- Banking and financial guidance
- Support with visa application procedures
- Regular workshops and educational programs
The center's commitment to supporting foreign entrepreneurs has significantly streamlined the process of starting a business in Korea. Their multilingual staff and comprehensive support system help bridge cultural and administrative gaps that foreign founders might face.
What makes GSC particularly valuable is their holistic approach to startup support. They don't just help with initial setup - they provide ongoing assistance to ensure your business can thrive in the Korean market. Their workshops and networking events also create valuable opportunities to connect with other entrepreneurs and potential partners.
My Journey on Establishing my Corporation in Korea
After going back to Germany, I was determined to live in Korea. One of the things I needed to sort out was getting my bachelor's and master's degree apostilled. I wasn't familiar with the concept of apostille, but it's a convention that verifies the authenticity of your degree. Additionally, I made sure to check the schedule of the OASIS classes and signed up to earn all the necessary points.
My goal was to live in Korea without being tied to a Korean company and working excessively. I have heard from many friends about the long hours they work. If I choose to live in Korea, I want to do it on my own terms and have the freedom as a digital nomad to go wherever and whenever I want, while being based in Korea. Because Korea is such a fantastic country to live in.
I'm happy enough to have a friend that guided me through the whole process and she was always just one step ahead and told me exactly how to do it. Now, I want to do the same for you if you require my assistance. As someone who has gone through the process of establishing a corporation in Korea, I understand the challenges and uncertainties that can come with it. That's why I'm here to provide you with any assistance you may need. If you have any questions or need guidance on any specific steps, feel free to ask. I'm here to support you on your journey to establishing your corporation in Korea.
Whenever you're ready, there are ways I can help you:
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About the Author
Kim Ninja (Huy-Kim Nguyen)
Cloud Engineer / WebApp Developer 💻
Content Creator Bridging Korea 🇰🇷 to the World 🌎
Startup Founder based in Seoul, South Korea 🚀
The blog published by Kim Ninja (Huy-Kim Nguyen) is available for informational purposes only and is not considered legal advice on any subject matter.
