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Business & Investment·Part 4 · Business-Immigration Series

Long-Term Stay After Business Immigration: F-2-99 Conversion and Family Settlement (2026)

Updated 2026.05Reading time approx. 8 min

If you have opened your business under D-9-4 or D-9-5, the tasks that follow are maintaining your stay and settling in. Extensions of stay recur, conversion to a long-term residence status comes into view after a set period, and questions of family stay and the basis of daily life continue in between. This article covers the structure of the D-9 extension review, the F-2-99 conversion requirements, and the stay structure of accompanying family.

"Can I keep living in Korea on a D-9 visa?" The initial period of stay under D-9-4 and D-9-5 is in most cases one year, and stay continues through extension reviews that confirm the business is actually operating. After five years or more of D-9 stay, you may apply to change to residence (F-2-99) status, and where the conversion review raises no issues, it appears possible to secure a more stable position of stay while continuing the same business.

The structure of the D-9 extension review

What the extension review confirms is whether the business is operating in substance. Specifically, it examines 1) revenue as shown in tax filings, 2) maintenance of the business premises, evidenced by the lease, 3) maintenance of the place of residence, and 4) employment. A business that met the investment requirement only formally, without real operations, will find extension difficult.

The extension review is prepared not at the time of application but through ordinary records. It is appropriate to maintain a system in which revenue, tax filings and operating records accumulate continuously throughout the period of stay.

Conversion to long-term residence (F-2-99)

After five years or more of D-9 stay, the path to residence (F-2-99) status opens. Where the extension review confirms the operation of the business, the conversion review assesses whether the applicant has settled stably into Korean society.

F-2-99 conversion review areas (as of 2026)
AreaContent
ResidenceA place of residence suitable for long-term stay
ConductImmigration Control Act violations, criminal punishment, tax arrears
Income & assetsAssets of KRW 20M or more; annual business income of KRW 40M or more
Language & integrationKIIP stage 4 or higher, or graduation from a Korean university
Detailed criteria may change and should be reconfirmed at the time of application.

These areas cannot be assembled just before applying. Conduct is assessed over the whole period of stay, and the income, asset and language requirements accumulate over years, so it is appropriate to arrange life during the D-9 period so that these requirements are met in the ordinary course.

Family stay and the basis of daily life

The period of stay of family under dependent (F-3) status is linked to the principal's: it extends when the principal's stay extends, and ends when the principal's stay ends. F-3 status restricts employment in principle, so a spouse who wishes to work or run a separate business examines a change to another status according to their education and career. School-age children may attend Korean elementary, middle and high schools, and university admission offers a separate special track for applicants whose parents are both foreign nationals.

The institutions of daily life are largely the same for foreigners as for nationals. National Health Insurance applies as of right to foreigners staying six months or longer; real-estate acquisition faces almost no legal restriction, with the same basic tax framework as for nationals; and the commercial lease protections — the right to demand renewal and protection of the opportunity to recover premium — apply regardless of the tenant's nationality. It should be noted, however, that residence-linked concessions such as the one-household-one-home tax exemption, and certain provisions for large premises above the deposit threshold, may apply differently.

When requirements sit at the margin at conversion

Suppose, for example, that five years of D-9 stay have passed and conversion is under consideration, but the previous year's business income hovers around the threshold and there is one penalty-notice record during the stay. Whether conversion is possible cannot be judged on general criteria alone: the review areas are weighed together rather than in isolation, and the choice of application timing changes the period under assessment.

In such matters, 1) the year-by-year income trend and how it is evidenced, 2) the content of the violation record and the time elapsed, 3) when the language requirement was met, and 4) the available application timings are examined together, and the conclusion can differ with the construction, so case-by-case review is required.

The order of settlement preparation

Taking the above together, it is advisable to establish a record-keeping system for revenue and tax filings immediately after opening, in preparation for extension reviews; to let the language, income and asset requirements accumulate during the period of stay; and, when five years have passed, to judge the timing of the F-2-99 application.

In addition, where it is unclear whether the conversion requirements are met, we recommend obtaining a review before applying. At consultation, we confirm 1) your period of stay and extension history, 2) income and assets by year, 3) any violation or arrears records, and 4) your family's statuses of stay. Request a consultation →

Frequently asked questions

After five years, does F-2-99 follow automatically?
No. Five years of stay is the precondition for applying; conversion is a discretionary judgment following review of residence, conduct, income and language. Meeting the time requirement does not itself decide the outcome.
Can my spouse work in Korea?
Dependent (F-3) status restricts employment in principle. A spouse who wishes to work or run a business examines a change to another status of stay according to their education and career.

The Visa & Immigration Center of Law Firm Lawyeon provides legal services specialized in the integrated handling of Korean immigration and visa matters together with criminal cases and immigration-violation reviews, built on extensive case experience, professional networks, and practical knowledge.

The Center was founded through the organic collaboration of attorneys Junwoo Min, Dohyun Nam, and Seungchul Kim — criminal-law specialists who have advised across a wide range of immigration matters — with Senior Advisor Taemin Ahn, who has served at the Seoul Global Center, as a center head at the Ministry of Justice's Global Start-up Immigration Center, and as a member of the Foreign Workers' Rights Protection Council of the Seoul Regional Employment and Labor Administration. It is Law Firm Lawyeon's dedicated center for immigration practice.

In particular, for departure orders and entry-ban dispositions that follow a final criminal conviction, the Center presents effective solutions through an integrated strategy spanning criminal defense, objections to the disposition, and applications to lift the entry ban, and it supports stable business activity in Korea by managing many clients' immigration risk.

This article is intended as general information about the relevant legal framework and is not legal advice on any individual matter. Determinations concerning immigration status may differ depending on specific facts such as residence history, income and contractual relationships. If your situation requires individual review, you may request a consultation with the Immigration Support Center of Law Firm Lawyeon (lawyeonvisa.app).