Share this article
IMPACT – MEDIUM
What is the change? South Korea’s immigration authority now requires occupation and annual income information for foreigners with status of stay for employment.
What does the change mean? Those whose status with Intra-Company Transfer (D-7), Corporate/Foreign Investor (D-8), International Trade (D-9), Professor (E-1) through Maritime Crew (E-10), Resident (F-2), Overseas Korean (F-4), Marriage Migrant (F-6) and Work and Visit (H-2) status are now required to report their occupation and annual income when filing applications with the immigration authority.
Additional Information: Affected foreigners can report their occupation and annual income information when they file for or the following: Alien Registration, Extension of Sojourn Status, Change of Sojourn Status, Engage in Activities not covered by the Status of Sojourn, Change or Addition of Workplace or Granting Status of Sojourn. After a foreigner with a status of stay for employment makes an initial report of annual income, if there is any change in the below annual income levels, another report needs to be submitted.
Analysis & Comments: The change means that affected employers and employees will need to fulfil an extra requirement in order to maintain their immigration states. Employers may wish to consult with Deloitte to receive guidance on how to complete the reporting properly.
Rest of World Source: Deloitte. Deloitte refers to one or more of Deloitte Touche Tohmatsu Limited (“DTTL”), its global network of member firms, and their related entities. DTTL (also referred to as “Deloitte Global”) and each of its member firms are legally separate and independent entities. DTTL does not provide services to clients. Please see www.deloitte.com/about to learn more. Deloitte Legal means the legal practices of Deloitte Touche Tohmatsu Limited member firms or their affiliates that provide legal services. For legal, regulatory and other reasons, not all member firms provide legal services. This includes Deloitte Tax LLP in the United States which does not provide legal and/or immigration advice or services. This communication contains general information only, and none of Deloitte Touche Tohmatsu Limited, its member firms or their related entities (collectively, the “Deloitte network”) is, by means of this communication, rendering professional advice or services. Before making any decision or taking any action that may affect your finances or your business, you should consult a qualified professional adviser. No entity in the Deloitte network shall be responsible for any loss whatsoever sustained by any person who relies on this communication. © 2020. For information, contact Deloitte Touche Tohmatsu Limited.
President Biden moves to allow certain Palestinians to stay in the U.S. Premium processing fees are about to go up.
The Home Office announced a new visa extension that allows Ukrainians arriving after the Russian invasion to apply for an
Singapore plans to allow all foreign visitors to clear immigration using automated checkpoint lanes without the need for prior enrollment....
The Council of Ministers has approved an increase in the monthly minimum wage for this year to €1,134 (about US