F5 Permanent Resident (F-5-13) Overseas Pension Beneficiary

A middle-aged white man, Mr. A, who had served in the US military in Korea for a long time, visited our office. Mr. A had an F-1 visa and his wife had an F-4 visa (overseas Korean).

Due to personal circumstances, A had to stay in the United States as well as Korea. Therefore, it was burdensome to have to come back every year to extend the period, and more than anything, he wanted to obtain an F-5 permanent residency so that he could live a stable life in Korea in the future.

My wife, who holds an F4 visa, did not have enough income to change to an F5 permanent residency first, and the investment costs were burdensome for permanent residency such as public investment or real estate investment, and it seemed almost impossible to meet the requirements for other permanent residency visas.

However, through continued consultation, I was able to confirm that A was receiving a large pension in the United States, and I requested all certificates for all pensions received in the United States.

A few days later, A sent the relevant documents, and since the total pension amount exceeded 100 million won, A was finally able to apply for F-5-13 (overseas pension beneficiary).

F-5-13 Foreign Pension Beneficiaries

Target

- A person who is 60 years of age or older and receives a pension from abroad exceeding the amount determined by the Minister of Justice

Conduct requirements, basic qualification requirements, and livelihood support ability requirements

1. Conduct Requirement - Submission of overseas criminal record certificate is required

2. Basic qualification requirements - Exempt (not eligible for permanent residency)

3. Requirements for ability to support oneself - In the case of overseas pension recipients, pension amount is recognized as income (same as individual requirements below)

F-5-13 Individual Requirements for Overseas Pension Beneficiaries

- The annual pension amount received from abroad during the past year prior to the application date must be at least twice the Gross National Income (GNI) per capita of the previous year as announced by the Bank of Korea.

※ If the previous year's per capita GNI has not been announced, the GNI per capita of the year before last is used as the basis.

- There must be no history of engaging in entertainment service industry (including similar industries) that is against good customs or social order from one year prior to the application date to the date of the review decision.

Submission documents

1. Passport, integrated application form, alien registration card, 1 standard size photo

2. Basic information for applicants for permanent residency (F-5) (Documents to be completed by foreign applicants)

3. Proof of residence documents

- In case of rental: Rental agreement

- In case of own property: Copy of real estate registration

- In case of providing accommodation for someone else: Confirmation of provision of residential accommodation, copy of identification of the person providing residential accommodation, and copy of lease agreement or real estate registration in the name of the person providing residential accommodation

4. Tuberculosis diagnosis certificate (for those who are eligible, valid for 3 months): Issued by public health centers and hospitals designated by the Ministry of Justice

5. Copy of identity guarantee and guarantor's ID card

6. Documents proving the requirement of good conduct

- Original overseas criminal record certificate (issued within 6 months from the date of application, public verification and translation required)

7. Documents proving livelihood requirements

- Copy of pension certificate and pension deposit account

8. Tax payment certificate (national tax payment), local tax payment certificate