Essential personnel working at a subsidiary in which a financial holding company with foreign-invested company registration status has invested 100 percent use a separately defined document list when changing to, or extending, Corporate Investment (D-8-1) status. The key items are not the subsidiary's own investment records but the holding company's approval and foreign-invested company registration certificate, plus proof that the subsidiary is wholly owned by the holding company.
This guide is for HR and compliance staff at foreign financial groups that run a financial holding company in Korea and send employees to subsidiaries such as banks, securities firms or insurers under it. We start with how this list differs from the general D-8-1 checklist.
Key Summary
- Applies to: essential personnel of a subsidiary 100 percent owned by a financial holding company with foreign-invested company registration status
- Documents: application, passport, alien registration card, photo; the holding company's approval and foreign-invested company registration certificate; the subsidiary's corporate registry certificate and shareholder register; a dispatch order from the overseas headquarters; business registration copies of the holding company and the subsidiary
- A dispatch order issued by a third-country branch of the overseas headquarters is also accepted
- The same list is set out for both the change of status permit and the extension of stay permit
- The maximum stay period granted at one time for D-8-1 is 5 years
1. Who does this separate list apply to?
Three conditions must be met together. First, the Korean financial holding company must have foreign-invested company registration status. Second, the employer must be a subsidiary in which that holding company has invested 100 percent. Third, the applicant must be essential personnel of that subsidiary.
D-8-1 covers essential personnel who will work in management or in production and technology at a Korean corporation that is a foreign-invested company; only corporations whose establishment is completed qualify, and people hired in Korea are excluded. How these basic requirements apply to someone working at a financial holding company's subsidiary, especially an employee hired in Korea, needs to be confirmed with immigration case by case.
2. Which documents are submitted?
Essential personnel of a subsidiary 100 percent owned by a financial holding company with foreign-invested company registration status submit:
- Application, passport and alien registration card, standard photo
- The financial holding company's approval and foreign-invested company registration certificate
- The subsidiary's corporate registry certificate and shareholder register (proof that it is 100 percent owned by the financial holding company)
- A dispatch order from the overseas headquarters (one issued by a third-country branch of the overseas headquarters is also accepted)
- Copies of the business registration of the financial holding company and the subsidiary
The same list appears under both the change of status permit and the extension of stay permit, so the initial set can be refreshed in the same structure at extension time. Approvals, registry entries and shareholder registers may have changed, so it is safer to obtain current versions at each extension.
3. How does it differ from the general D-8-1 list?
| Item | General D-8-1 | Wholly owned subsidiary of a financial holding company |
|---|---|---|
| Proof of foreign investment | Copy of investment enterprise registration, original statement of changes in shareholders | Holding company's approval and foreign-invested company registration certificate |
| Proof of corporate relationship | Business registration copy, corporate registry certificate | Subsidiary's corporate registry certificate and shareholder register (wholly owned), business registration copies of both companies |
| Investment funds | Proof of investment funds brought in (cash or in-kind) | No separate item in the list |
| Dispatch documents | For intra-company activity, a dispatch order stating the period and an employment certificate | Dispatch order from overseas headquarters (third-country branch accepted) |
| Other general items | Business performance certificate, proof of residence, proof that the workplace exists | No separate item in the list |
The general D-8-1 list focuses on the investment records of the corporation where the applicant works (investment enterprise registration, shareholder changes, funds brought in). The list for wholly owned subsidiaries of a financial holding company consists of the holding company's authorization and foreign-invested company registration certificate, and documents proving the wholly owned relationship. The local immigration office may still request additional materials depending on the case, so check before filing.
4. Who must issue the dispatch order?
A dispatch order from the overseas headquarters is the rule, and one issued by a third-country branch of the overseas headquarters is also accepted. For example, if a European financial group issues assignments through its Hong Kong regional office, whether that regional office counts as a third-country branch of the overseas headquarters needs to be confirmed with immigration case by case, so it is advisable to prepare group structure materials showing the relationship between the issuer and the overseas headquarters.
5. What about the stay period and steps after arrival?
The maximum stay period granted at one time for D-8-1 is 5 years. For alien registration after entry, submit the application, original passport, standard photo, business registration and corporate registry certificate (for corporations), and proof of residence. D-8 is not subject to a workplace change or addition permit and is handled through an alien registration change report, so check this procedure when moving to another subsidiary in the same group.
6. Common problems
- Looking for an investment enterprise registration in the subsidiary's name instead of the holding company's, and concluding the documents are missing
- The shareholder register does not show 100 percent ownership by the financial holding company (another shareholder holds part)
- The applicant was hired directly in Korea, but whether the D-8-1 requirements apply was not checked in advance
- No material showing that the dispatch order issuer is the headquarters or its branch
- Re-submitting old documents at extension without reflecting changes in the approval or registry
7. How A-One Certified Administrative Agent can help
We check whether the financial group's ownership structure falls under this separate list, review the holding company and subsidiary documents and the dispatch order, and organize the change of status or extension file. The immigration office decides each case, so no result can be promised, and we do not handle litigation or court representation (outside the scope of an administrative scrivener).
Frequently Asked Questions
Can staff at a financial holding company's subsidiary get D-8-1?
If they are essential personnel of a subsidiary 100 percent owned by a financial holding company with foreign-invested company registration status, they apply for a D-8-1 change or extension with the separately defined document list.
What if the subsidiary has no investment enterprise registration of its own?
This list asks for the holding company's approval and foreign-invested company registration certificate, and the subsidiary's corporate registry certificate and shareholder register. Proving that the subsidiary is wholly owned by the holding company is the key point.
Is a dispatch order from a regional office acceptable?
A dispatch order issued by a third-country branch of the overseas headquarters is accepted. Whether a regional office counts as such a third-country branch needs to be confirmed with immigration case by case, so prepare materials showing the relationship between the issuer and the overseas headquarters.
What if the holding company owns only part of the subsidiary?
This list is for subsidiaries 100 percent owned by the financial holding company. If it owns only part, check first with the local immigration office which document standard applies.
How long can the stay be granted at one time?
The maximum stay period granted at one time for D-8-1 is 5 years.
Related Guides
- D-8 Investor Visa Guide
- D-8-1 corporate investment: a 10% stake or an executive dispatch or appointment contract
- D-8 essential personnel: executives, senior managers and specialists
Consultation
에이원 행정사사무소 (A-One Certified Administrative Agent) is an administrative office that supports document preparation and filing with the authorities. Fees vary by case and are explained during a consultation. Phone 02-309-3107 · Contact: https://investkorea.co.kr/en/contact