South Korea retirement visa for foreigners

Who Can Apply for a South Korea Retirement Visa?

The South Korea retirement visa is designed for foreign nationals aged 55 and older. You must be able to show that you have enough money to support yourself during your stay. The country wants to make sure retirees won't become a financial burden on the government.

Financial Requirements

To qualify, you'll need to prove stable income or savings. Most commonly, applicants show:

• A monthly pension or regular income
• Bank savings in a South Korean bank account
• A combination of both income and savings

The exact amounts change regularly, so check the official South Korean immigration website for current requirements. You'll typically need to open a local bank account and maintain your funds there.

How to Apply

The application process involves:

• Submitting your passport and visa application form
• Providing proof of financial stability
• Getting a health certificate
• Passing a background check
• Applying at a South Korean embassy or consulate in your home country

You'll need to visit in person for the interview. Bring original documents and certified translations if your paperwork isn't in Korean or English.

Living on a Retirement Visa

Once approved, your visa allows you to stay in South Korea long-term. Most retirement visas are valid for 1-2 years and can be renewed if you continue to meet the requirements. You can:

• Live anywhere in the country
• Travel in and out freely (with your visa)
• Work is generally not permitted on this visa type

Healthcare and Other Considerations

Before moving, research:

• Health insurance options for retirees
• Cost of living in different South Korean cities
• Housing options and rental procedures
• Language classes and expat communities

South Korea has excellent healthcare, but you'll want coverage as a foreigner. Some retirees qualify for the national health insurance system after establishing residency.

Next Steps

Visit the official South Korean immigration website to download current application forms and see the latest financial requirements. Contact your nearest South Korean embassy or consulate to schedule a consultation. They can answer specific questions about your situation.

This is general self-help information, not legal advice. Always verify current rules on the official government website.