Can property purchases aid residency in South Korea?

Authored by the expert who managed and guided the team behind the South Korea Property Pack

Everything you need to know before buying real estate is included in our South Korea Property Pack

Who is the author of this content?

BAMBOOROUTES

A team specialized in real estate investing in APAC countries (Japan, Thailand, Indonesia, Australia, etc.).

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in South Korea. If you'd like to learn more about us, you can check our presentation page.

How this content was created 🔎📝

At BambooRoutes, we explore the South Korean real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Seoul, Busan, and Jeju. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

These observations are originally based on what we've learned through these conversations and our observations. But it was not enough. To back them up, we also needed to rely on trusted resources

We prioritize accuracy and authority. Trends lacking solid data or expert validation were excluded.

Trustworthiness is central to our work. Every source and citation is clearly listed, ensuring transparency. A writing AI-powered tool was used solely to refine readability and engagement.

To make the information accessible, our team designed custom infographics that clarify key points. We hope you will like them! All illustrations and media were created in-house and added manually.

What types of visas in South Korea are linked to property ownership?

The F-2-8 Real Estate Investment Visa is the primary visa program directly linked to property ownership in South Korea.

This visa grants temporary residency status (F-2) to foreign investors who purchase qualifying real estate in government-designated zones. The F-2-8 specifically targets property investments in tourism and leisure areas rather than standard residential purchases.

After holding the F-2 visa for five years while maintaining the property investment and meeting residency requirements, investors become eligible to apply for permanent residency status (F-5). The F-5 permanent residency provides long-term legal status without the need to maintain the original property investment.

Standard residential property purchases in non-designated areas do not qualify for any visa benefits. Seoul metropolitan area purchases now require government permits and impose residency obligations but do not provide pathway to F-2 visa status.

It's something we develop in our South Korea property pack.

How much money do I need to invest in real estate to qualify for a visa or residency?

The standard minimum investment threshold is ₩1 billion (approximately $780,000 to $800,000) as of September 2025.

Jeju Island historically offered a lower threshold of ₩500 million ($375,000), but government sources indicate this amount will likely increase to ₩1.5 billion or higher in the near future. All investment amounts must be paid in verified cash - mortgaged portions that drop the equity below required thresholds will cancel visa eligibility.

For investors seeking faster processing, a fast-track option requires ₩3 billion ($2.4 million) investment, which provides accelerated permanent residency processing along with additional financial commitments to the South Korean economy.

These investment amounts must be maintained for the entire five-year period required to qualify for permanent residency. Selling the property or reducing the investment below the threshold before completing the residency requirements results in visa revocation.

The investment must be made in full before applying for the F-2-8 visa, with complete documentation of fund transfers and property purchase completion required during the application process.

Which cities or regions in South Korea allow property investment to count toward residency, and are there restrictions on where I can buy?

Only specific government-designated zones qualify for residency-linked property investment, not all regions of South Korea.

Eligible investment locations include Jeju Island, Incheon Free Economic Zone, and select leisure and tourism districts approved by the Ministry of Justice. These designated zones focus primarily on resort developments, tourism facilities, and approved condominium projects.

Seoul and surrounding metropolitan areas impose severe restrictions on foreign property purchases, requiring government permits before purchase and mandating that buyers move in within four months and maintain residency for two years minimum. However, these Seoul area purchases do not provide F-2 visa pathways.

The government maintains official lists of qualifying investment zones and approved projects, which can change based on policy updates. Properties outside these designated zones - including standard residential apartments in major cities like Seoul or Busan - do not confer any residency benefits regardless of purchase price.

Foreign investors must verify that their target property is located within an approved zone and is part of a qualifying development project before making any purchase commitments for residency purposes.

Does the property need to be residential, commercial, or a specific type to be eligible for residency benefits?

Properties must be located in government-approved tourism and leisure developments, not standard residential or commercial real estate.

Property Type	Eligibility Status	Typical Locations
Resort Condominiums	Eligible	Jeju Island, Incheon, Tourism Zones
Tourism Facility Units	Eligible	Designated Leisure Districts
Approved Residential Developments	Eligible	Government-Designated Tourism Areas
Standard City Apartments	Not Eligible	Seoul, Busan, Other Major Cities
Commercial Office Buildings	Not Eligible	Business Districts
Industrial Properties	Not Eligible	Manufacturing Areas
Agricultural Land	Not Eligible	Rural Areas

The key requirement is that properties must be part of projects specifically approved by the Ministry of Justice for the F-2-8 visa program. These typically include luxury resort condominiums, tourism-related residential units, and leisure facility developments designed to attract foreign investment.

Standard residential apartments, office buildings, or commercial properties outside designated tourism zones do not qualify regardless of their purchase price or location. The government maintains updated lists of qualifying developments and projects for investor reference.

What is the minimum property value or investment threshold set by the South Korean government?

The current minimum investment threshold is ₩1 billion (approximately $780,000-800,000) for the F-2-8 Real Estate Investment Visa program as of September 2025.

Jeju Island maintains a special lower threshold of ₩500 million ($375,000), but government sources indicate this amount will likely increase to ₩1.5 billion within the next year. The Jeju program offers the most accessible entry point while it remains at the current level.

For investors seeking accelerated processing, the fast-track option requires ₩3 billion ($2.4 million) investment with additional long-term financial commitments to the South Korean economy. This higher investment level provides expedited permanent residency processing.

All investment amounts must be verified as cash payments - mortgage financing that reduces equity below the required threshold automatically disqualifies the investment for visa purposes. Bank transfer documentation and proof of full cash payment are mandatory during the application process.

These thresholds are subject to periodic government review and adjustment, with the Ministry of Justice typically announcing changes 6-12 months in advance to allow investors to plan accordingly.

How long must I hold the property before it contributes to permanent residency or citizenship eligibility?

Property must be held for a minimum of five years to qualify for permanent residency (F-5) status in South Korea.

The F-2-8 visa is granted upon initial property purchase and payment, but conversion to F-5 permanent residency requires maintaining both the property investment and visa status continuously for five years. Selling the property before completing the five-year holding period results in visa revocation.

During the five-year holding period, investors must visit South Korea at least once per year to maintain their visa eligibility. Failure to make annual visits can result in visa cancellation even if the property is maintained.

After securing F-5 permanent residency status, the property can generally be sold without affecting residency status. However, citizenship applications require an additional five years of total legal residency (including the initial F-2 period), plus language proficiency and good conduct requirements.

The complete pathway from property purchase to citizenship eligibility typically requires 10 years total: five years on F-2 status while holding the property, followed by five years on F-5 permanent residency status.

Are there specific residency programs, like the Jeju Island investment visa, still active and what are their requirements?

Yes, the Jeju Island investment visa program remains active through at least April 2026, with current minimum investment requirements of ₩500 million ($375,000).

Jeju's program allows foreign investors to purchase approved resort and tourism properties with more flexible requirements compared to mainland programs. However, the ₩500 million threshold is expected to increase to ₩1.5 billion or higher in the near future to align with national program standards.

Current Jeju program requirements include purchasing property in government-approved tourism developments, maintaining the investment for five years, making annual visits to maintain visa status, and providing proof of funds and clean criminal record during application.

The Incheon Free Economic Zone program also remains active with ₩1 billion minimum investment requirements, focusing on resort and leisure developments within the designated economic zone. Additional approved leisure districts across South Korea maintain similar investment thresholds and requirements.

It's something we develop in our South Korea property pack.

What documents and proof of funds are required to apply for a residency visa through property purchase?

Property purchase documentation requires title deed, complete bank transfer records, and proof of full cash payment for the qualifying investment amount.

1. **Property Documentation**: Official title deed, purchase agreement, property registration documents, and verification that the property is located in an approved investment zone2. **Financial Proof**: Bank transfer documentation showing source of funds, proof of payment in full cash (no mortgage amounts), and verification that investment meets minimum threshold requirements3. **Personal Documentation**: Valid passport, clean criminal record certificate from home country and any countries of recent residence, basic identity verification documents4. **Residency Intent**: Documentation of intentions to maintain South Korean residency, proof of accommodation arrangements, and evidence of ability to support oneself financially beyond the property investment5. **Application Forms**: Completed F-2-8 visa application forms, immigration office processing fees, and any additional forms required by the specific investment zone or development project

All foreign documents must be apostilled or consularized and translated into Korean by certified translators. The complete documentation package typically takes 2-3 months to prepare and process through Korean immigration authorities.

For fast-track applications requiring ₩3 billion investment, additional financial documentation and long-term economic commitment agreements are required beyond standard application materials.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in South Korea versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you're planning to invest there.

Do property purchases provide only temporary residency, or can they lead to permanent residency and eventually citizenship?

Property purchases initially provide temporary residency (F-2) but create a clear pathway to permanent residency (F-5) and eventual citizenship.

The F-2-8 Real Estate Investment Visa grants temporary residency status upon property purchase completion. This temporary status must be maintained for five continuous years while holding the qualifying property investment and making annual visits to South Korea.

After five years on F-2 status, investors become eligible to apply for F-5 permanent residency. The F-5 status provides long-term legal residency without requirement to maintain the original property investment, allowing property sale after permanent residency approval.

Citizenship through naturalization becomes possible after completing five years of total legal residency (including the initial F-2 period). Citizenship applicants must demonstrate Korean language proficiency, good conduct, and meet additional naturalization requirements beyond the property investment.

The complete progression from property purchase to citizenship eligibility typically spans 10 years: five years maintaining F-2 status and property, followed by five years on F-5 permanent residency before citizenship application eligibility.

What are the taxes, fees, and ongoing costs that foreign buyers face?

Foreign property buyers in South Korea face acquisition tax, property tax, maintenance fees, and various transaction costs throughout the investment period.

Cost Type	Rate/Amount	Payment Schedule
Acquisition Tax	1-3% of property value	Within 30 days of purchase
Registration Tax	0.3-2% of property value	At time of registration
Property Tax	0.1-0.4% annually	Annual payment
Comprehensive Real Estate Tax	0.5-2% for high-value properties	Annual payment
Maintenance Fees	₩200,000-500,000 monthly	Monthly payment
Legal/Transaction Fees	1-2% of property value	At time of purchase

Property tax rates vary by region and property type, with resort properties in tourism zones sometimes qualifying for reduced rates. Comprehensive real estate tax applies to properties exceeding certain value thresholds, with higher rates for foreign owners in some jurisdictions.

Maintenance fees for resort and tourism properties typically include facility management, security, and common area upkeep. These fees can be substantial for luxury developments but are necessary for maintaining property values in tourism zones.

Additional costs include annual visa renewal fees, property management fees if using rental management services, and potential capital gains tax upon eventual property sale depending on holding period and profit margins.

Are there restrictions on foreigners selling the property later, and would selling affect residency status?

Selling property before completing the five-year F-2 residency period results in immediate visa revocation and loss of residency status.

The South Korean government requires continuous property ownership for the full five-year period needed to qualify for F-5 permanent residency. Early sale of the qualifying investment property automatically cancels F-2-8 visa status and requires departure from South Korea.

After obtaining F-5 permanent residency status, property can generally be sold without affecting residency rights. However, new regulations in Seoul metropolitan areas require government approval for property sales and impose restrictions on quick resale to combat speculation.

Foreign property owners must comply with capital gains tax obligations upon sale, with rates varying based on holding period and profit margins. Properties held longer than three years typically qualify for reduced capital gains tax rates.

Some tourism zone developments may have additional resale restrictions or right-of-first-refusal clauses favoring Korean buyers or the original developer. These restrictions should be clearly understood before making the initial investment commitment.

It's something we develop in our South Korea property pack.

How many years of residency through property ownership are required before applying for permanent residency or naturalization?

Five years of continuous F-2-8 residency status is required before applying for F-5 permanent residency in South Korea.

The five-year period begins upon approval of the F-2-8 Real Estate Investment Visa and requires maintaining both the qualifying property investment and annual visit requirements throughout the entire period. Missing annual visits or selling the property before completing five years resets the residency timeline.

After obtaining F-5 permanent residency, an additional five years of total legal residency (including the initial F-2 period) is required before becoming eligible to apply for citizenship through naturalization. This means 10 years total from initial property purchase to citizenship application eligibility.

Naturalization applications also require demonstrating Korean language proficiency, good conduct, and meeting additional integration requirements beyond the residency timeline. The naturalization process typically takes 1-2 additional years after submitting the application.

Fast-track investors with ₩3 billion investments may qualify for accelerated permanent residency processing but still must meet minimum residency timeline requirements before citizenship eligibility.

Conclusion

This article is for informational purposes only and should not be considered financial advice. Readers are advised to consult with a qualified professional before making any investment decisions. We do not assume any liability for actions taken based on the information provided.

Sources

1. CitizenX - South Korea Golden Visa
2. GlobeVisa - South Korea Real Estate Immigrant Investor Scheme
3. CitizenX - South Korea Citizenship Investment
4. Nomad Capitalist - South Korea Residence Visa
5. BambooRoutes - Foreigners Buy Property Jeju Island
6. IMI Daily - South Korea Foreign Property Purchase Ban
7. Global Residence Index - South Korea Immigrant Investor
8. Armenian Lawyer - South Korea Investment Migration Guide