Officially named Workation Visa, South Korea unveiled its plan to welcome more remote workers and digital nomads with this new visa allowing you and your family (spouse and children) to stay for up to 2 years, starting from January 1st 2024.
Who is it for?
Whether you are a foreign business owner, a freelancer or a company employee, you are welcomed to apply for this visa as long as you meet the requirements below. If you do, then you will also be allowed to come along with your spouse and children.
What are the requirements?
- Must be 18 or older
- Must have worked in your current field for at least 1 year
- Foreign company owner with an active business for at least 1 year
- Freelancer actively working in the same field for at least 1 year
- Employee working in the same field for at least 1 year and working for a company officially allowing remote work from abroad
- Must have a minimum income of 7.08 mio KRW (5,410$USD) per month
- Must have a medical insurance coverage of more than 100 mio KRW (76,400$USD)
- Must not engage in any commercial activities with South Korea
Where should I pay taxes?
There will be no taxation of your income in South Korea during your stay. Meaning you will have to file your taxes as usual in your home country. As it may vary depending on your situation, it is advised to contact the Korean Embassy and a tax expert in your country for information about your specific situation.
Is it worth it?
Our recommendation would be to first get the Working Holiday Visa as the government increased the age limit to 35 for several countries. And then, apply for the Workation Visa. That way, you will be able to stay for up to 3 years in South Korea without having to do visa hopping anymore.
How can I apply?
If you are already in South Korea on a B-1, B-2 or C-3 visa, then you can get an appointment directly with the Immigration Office to switch to the new Workation Visa.
If you are outside South Korea, you need to contact the Korean embassy/consulate in your country of residence. Note that as of now, most of them are still not ready to take applications as they haven’t all received the required information yet.
What documents do I need to apply?
You’ll have to provide at least the following documents. You may be asked to provide other documents depending on your situation.
- Passport & Passport Copy
- Picture (passport format)
- Proof of employment/work
- Pay slip
- Bank statements (to prove income)
- Other financial proof if existing (all taxable income you have in a year)
- Extract of criminal record
- Proof of private Insurance that covers at least 100 million won for accidents/transports/medical help
We are really happy to see that South Korea is joining the digital nomad visa wave with this Workation Visa and are really looking forward to see how things will evolve in the future for all remote workers wishing to go to South Korea. Stay tuned as we will update this post regularly.
Everything presented in this article was confirmed by the Immigration Office in South Korea.