Jeju Island real estate investment immigration policy?

Investment immigrants need to pay attention to the adjustment of Korean laws and policies. In order to eliminate Jeju islanders' concerns about over-exploitation and environmental damage, Jeju government submitted an amendment to the Korean Ministry of Justice to strengthen permanent residency. Foreign investors who have obtained residence qualification by investing in real estate will be limited to 6,000. And increase the minimum investment from 500 million won to 654.38+0 billion won. There is only one chance to obtain the permanent residency of the investment institution.

In addition, there are many specific restrictive conditions in the real estate investment immigration system, which is particularly noteworthy. For example, only by investing in leisure holiday apartments, resorts, family hotels, villas and so on. All of them were developed with the approval of the Governor of Jizhou Autonomous Road, and they can obtain permanent residence. Investors are not allowed to lease for a long time (more than 6 months) or set a guarantee within the investment benchmark amount, and the investment status should be maintained for 5 years.

When a foreign investor obtains residence qualification, his spouse and unmarried children can get visas, but after a foreign investor obtains permanent residency, his spouse and unmarried children need to stay in Korea for five years if they also want to obtain permanent residency.

The issue of taxes and fees is also something that investment immigrants need to pay attention to. When investing in real estate in Jeju Island, there are purchase tax, value-added tax, special tax for agriculture and fishing villages, registration tax, etc. There are property tax and local education tax in the retention stage; There are resident tax and transfer tax in the transfer stage.

Take the property of 2.8 million yuan as an example to calculate the tax. From the stage of purchase to sales, the tax to be paid is about 6,543,800 yuan. If the purchased property exceeds 600 million won (about 3.84 million yuan), comprehensive property tax will be paid.

Although the purchase tax and property tax can be reduced or exempted when purchasing real estate in foreign investment zones, there are quite a lot of taxes and fees to be paid in the stages of purchase, retention and sales.

In addition, if the investor who buys the property in Jeju Island, South Korea dies, the inheritance tax will be levied according to Korean law.

Although Jeju Island's real estate investment immigration policy has attracted a large number of investors, many investors tend to invest blindly, so it is easy to ignore legal risks. For foreign investors, it is necessary to fully understand the contents of the real estate investment immigration system in Jeju Island, South Korea, analyze the advantages and disadvantages, do what you can, and then invest cautiously.