Foreign nationals can purchase real estate in Korea. The Foreigner's Land Acquisition Act, Foreign Exchange Transactions Act, and Foreign Investment Promotion Act all apply. Regulations for land acquisition, use, and development apply equally to locals and foreigners.
⚠️ Important
Different laws and procedures apply depending on: the purpose of acquisition, whether you reside in Korea, and whether you are an individual or corporation.
🏠 Resident Foreign Nationals
Step 1. Report Real Estate Acquisition
| Item | Details |
|---|---|
| Deadline | Within 60 days of signing the contract (balance payment) |
| Submit to | Cadastral Department, Si/Gun/Gu of the property location |
| Documents | Real estate contract + copy of real estate register (seller's name) |
| Processing | Immediately |
Step 2. Register Title Transfer
| Item | Details |
|---|---|
| Deadline | Within 60 days of signing the contract (balance payment) |
| Submit to | Registration office of the property location |
| Documents | Foreign national registration certificate (individual) or corporation registration certificate, registration application, evidential documents, land register copy |
| Processing | Immediately |
✈️ Non-Resident Foreign Nationals
Prepare the following documents before entering Korea:
- Individual: Copy of citizenship certificate + copy of residence/address certificate from home government
- Corporation: Copy of corporation certificate (with address) or address certificate from home government
Registration Number for Real Estate
| Applicant | Office | Documents |
|---|---|---|
| Individual | Seoul Immigration Control Office (Mok-dong, 02-650-6237) | Passport or citizenship copy + land acquisition report certificate |
| Corporation | Cadastral Dept, Si/Gun/Gu | Contact: 02-3703-5060 (Ministry of Gov't Admin) |
Power of attorney from a notary office in the home country may be required if applicable.