D8 Visa (D-8-1) Italian Restaurant, Co-CEOs, Husband and Wife Each Investing 100 Million Won
- dongsuk cha
- Mar 20
- 7 min read
A married couple invested 100 million won each to establish a corporation with a capital of 200 million won as co-representatives, and then each applied for a D8 visa.
This is because a married couple plans to jointly operate an Italian restaurant, but the F-3 visa issued to spouses and minors does not allow for profit-making activities (employment or business).
The overall procedure for applying for a D8 visa (D-8-1) for the purpose of operating a restaurant business is as follows. It does not change significantly from the basics. The only additional step is obtaining a business license prior to business registration.
Foreign Investment Declaration → Remittance of Investment Funds → Opening of Personal KRW Account and Transfer of Investment Funds →
Registration of Incorporation → Issuance of Business Report → Issuance of Business Registration Certificate →
Opening a corporate account and transferring investment funds → Issuance of Foreign Investment Enterprise Registration Certificate → Application for D8 visa
For a basic explanation of the above procedure, please refer to the posts below.
Today, I will write only about the differences and unique aspects of this case compared to the standard D8 visa procedure.
First, regarding the registration of incorporation.
Since the couple each needed to apply for a D8 visa, they each filed a foreign investment declaration in their own names and transferred 100 million KRW to each. Consequently, after transferring the funds to the virtual accounts opened following the investment declaration, they each created Korean Won accounts and transferred the investment funds from the virtual accounts to the KRW accounts under their own names. Up to this point, the procedure is identical to the standard D8 visa process.
However, since this case involved a corporation with a capital of 200 million won, the entire 100 million won from the wife's won account was deposited into the husband's won account. Subsequently, a certificate of balance for the husband's personal won account exceeding 200 million won was obtained, and the corporate registration was completed.
The reason is simple. Even for co-representatives, it is impossible to register a corporation with a capital of 200 million won by submitting separate balance certificates of 100 million won each in their individual names. Therefore, the investment funds must be combined into one of the accounts.
Secondly, this concerns the lease agreement for the corporate address (business premises) prior to corporate registration.
When entering the country on a short-term visa (B1, B2, C3, etc.) and entering into a lease agreement, you cannot enter the Resident Registration Number (Alien Registration Number) required for the lessee on the lease agreement. This is because foreigner registration is not permitted for those with a short-term stay status of 90 days or less, making it impossible to obtain an Alien Registration Number. Therefore, in such cases, the lease agreement is initially concluded by entering the passport number in the field for the lessee's Resident Registration Number. Subsequently, once the corporate registration is completed, the lease agreement is concluded again in the name of the corporation.
When applying for a D8 visa at the immigration office, the lessee on the lease agreement must be a corporation.
In addition, you must enter into a lease agreement so that ownership can be transferred to the lessee at the very least before business registration—that is, so that the lease term can expire and become valid. This is because the tax office may refuse to issue a corporate business registration certificate if ownership of the corporate address has not been fully transferred.
In addition, expenses such as lease deposits, key money, and brokerage fees are paid after obtaining a balance certificate for the corporate representative's personal Korean Won account. This is because the balance certificate of the corporate representative's personal Korean Won account serves as proof of corporate capital during the registration of incorporation.
Finally, regarding the business registration certificate.
If you are applying for a D8 visa for the purpose of operating a restaurant, you must obtain a Business Report Certificate from the Hygiene Division of the competent City, County, or District Office before obtaining a Business Registration Certificate. The documents required for the Business Report Certificate are listed below, and you must also complete food hygiene training for new business operators prior to filing the report.
Documents to be submitted for the issuance of a business registration certificate (Corporation)
- Passport
- Business Registration Form
- Copy of business registration certificate
- Certified copy of the corporate registry
- Corporate Seal Certificate
- Food Hygiene Education Completion Certificate
- Health certificate
- Business premises lease agreement
Perhaps because many procedural issues were raised regarding the foreign business registration certificate for D8 visa applications, it seems that compared to the past, the number of city, county, and district offices issuing it conditionally has increased significantly these days, even to foreigners who are not registered (short-term stay status of 90 days or less).
※ In the past, there were many city, county, and district offices that refused to issue business registration certificates, citing the applicant's residency status as an issue that prevented them from conducting business.
※ Conditional Business License: A temporary business license with a limited duration is issued for the visa application, and a regular business license is issued once the D8 visa is approved.
Note: You must have a business registration certificate to obtain a business registration certificate, and you must have a business registration certificate to apply for a D8 visa.
When applying for a D8 visa, proving the source of investment funds cannot be emphasized enough.
For new corporations with an investment of 300 million KRW or less, proving the source of investment funds is the absolute determining factor in whether or not a license is granted.
In the case of the Italian couple in this example, the husband raised investment funds by running a business in Italy.
Although my wife was also working, most of the money needed for the couple to live in Italy (living expenses, house rental fees, etc.) came from her account, so there was not much money in her account.
Therefore, the husband transferred about 70 million won from his account to his wife.
And the wife combined the money she originally had with the money her husband gave her to raise investment funds.
Below is the list of documents actually submitted to the competent immigration office while handling this case.
While the basic required documents are the same, the documents proving the source of investment funds and expertise vary depending on the individual applicant's circumstances.
Documents to be submitted for Italian couple D8 visa application
※ Since the review is conducted on an individual basis even if documents overlap, you must prepare one set for each item when applying for the D8 visa (attach only one copy each for documents proving capital usage, source of investment funds, business expertise, and marriage certificate).
1. Integrated Application Form (with passport photo attached), original and copy of passport ※ D8 visa holders are exempt from status change fees and Alien Registration Card issuance fees. | ||
2. Copy of Business Registration Certificate, Copy of Foreign Investment Enterprise Registration Certificate, Copy of Business Report Certificate | ||
3. Certified Copy of the Register of Incorporation, Register of Shareholders, Statement of Changes in Shareholders (if there has been a change in shareholders) | ||
4. Documents proving place of residence - Lease agreement and confirmation of provision of accommodation ※ The house to be lived in was leased in the husband's name. Therefore, the husband must complete the Confirmation of Accommodation Provision for the wife. | ||
5. Documents proving the existence of a workplace - Add restaurant lease agreement, remittance records for security deposit/premium/rent/management fees, and payment confirmations for utilities if paid. - Business premises photos (exterior, signage, interior, etc.) | ||
6. Supporting documents regarding the introduction of investment funds - Remittance confirmation, foreign exchange purchase certificate | ||
7. Documents proving the use of capital - Copies of corporate bank statements and transaction records, receipts for restaurant interior costs / fixture purchases, etc. ※ If capital was used through a personal account in the name of the applicant's corporate representative prior to the registration of incorporation, add the account transaction statement and a copy of the relevant bank passbook. ※ Restaurant lease deposits, key money, rent, management fees, etc. can also be paid into the corporate representative's personal account before the corporate registration is completed. | ||
8. Documents proving source of investment funds - Donation-related documents (English translation and apostille) ※ In Italy, there is no legally mandated gift system between spouses. Therefore, a written document stating that the husband made a gift to his wife via bank transfer must be drafted, notarized, and apostilled. - Italian business registration certificate in husband's name (English translation and apostille) - Certificate of Employment in Wife's Name (English Translation and Apostille) - Transaction statement for the Italian bank account in the husband's name (check details of transfers to the wife, check details of transfers to Korea), confirmation of transfer to Korea (transfer in Euros) - Transaction statement for the Italian bank account in the wife's name (check details of remittances received from the husband, check details of remittances sent to Korea), confirmation of remittance to Korea (remittance in Euros) ※ All documents issued by the local bank must be in English. If issuance in English is not possible, they must be fully translated into English and submitted along with the originals. | ||
9. Documents proving expertise in the business - Business Plan (Please describe in detail, step-by-step, what business or work the applicant conducted locally, what business they intend to conduct in Korea, and how the plan works, etc.) - Italian Restaurant Work Experience Certificate ※ Previously, my wife worked part-time at an Italian restaurant while staying in Korea on an H-1 visa (Working Holiday). Apparently finding the business promising, she later suggested to my husband that we open an Italian restaurant in Korea. | ||
10. Documents proving marital relationship - Certificate of Marriage (English Translation and Apostille) |
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