E-7 Insurance and Financial Manager (1320) Summary of visa requirements – Is it

Although I have been offered employment as a sales manager, risk management manager, and operation management executive at Korean financial companies, insurance companies, asset management companies, and fintech companies, I often wonder, “Is an E-7 visa possible for foreigners?”

Insurance and financial managers (1320) are not simple financial practitioners, but are a group of managers who oversee the sales strategy, risk control, and internal operating system of a financial and insurance organization. Immigration screening examines the professionalism and scope of responsibility of the job very strictly.

Summarize key requirements from a job seeker's perspective.

1. Job scope of insurance and financial manager (1320)

1. Establishment and management of sales strategies for financial and insurance organizations

2. Establishing a risk management system and operating internal controls

3. Financial soundness management and regulatory response

4. Operational organization management and performance evaluation

5. Responsibility for managing the entire organization, not just the branch or department level

Simple insurance planners, financial product sales staff, and general risk analysis personnel are not eligible.
Immigration will be judged based on whether the person is in charge of strategy and management.

2. Applicable residence status

1. E-7 (Special Activities, Professional)

2. Existing D-10 (Job Seeking) → E-7 change application possible

3. Top-tier review available for advanced financial experts

However, because the financial industry is a regulated industry, the company's licensing status and internal control structure are also reviewed.

3. Key permit requirements

1. Education Requirements

   • Bachelor's degree or higher in finance, economics, management, or insurance-related major

   • Alternatively, significant experience may be substituted.

2. Experience Requirements

   • Manager-level experience at financial institutions and insurance companies

   • Experience in sales, risk, and operations management

3. Salary Requirements

   • Usually above the domestic average income (GNI)

   • Salary level appropriate for manager position

4. company requirements

   • Holds financial licenses

   • Corporation in normal operation

   • Proving the need to hire foreigners

The key questions are:
“Is this foreign manager essential to the company’s strategic operations?”

For example, introducing a global risk model, attracting foreign capital, and experience operating an international financial network are positive factors.

4. D-10 to E-7 change procedure

1. Conclusion of employment contract

2. Specification of Job Description

3. Confirmation of salary and position

4. Application for change of residence status

5. Submission of company financial data and licensing data

In particular, in the case of financial institutions, the connection with the internal control and compliance system must be explained.

5. Frequently rejected cases

1. Simple financial product sales role

2. Appointment of a formal manager in small dealerships

3. Salary is below manager level

4. Lack of logic of necessity for foreigners

5. Mismatch between regulatory requirements and job duties

The immigration office strictly examines the actual scope of responsibility, taking into account the special characteristics of the financial industry.

The level of strategy and risk responsibility is key

Insurance and financial managers (1320) are classified as E-7 professionals, but must clearly demonstrate that they are managers in charge of organizational strategy, risk, and operations rather than simple financial practitioners.

To increase your chances of approval:

• position on the organizational chart

• salary level

• Global Expertise

• The company's need to hire foreigners

must be organized systematically.

WorkOn VisaHub
We provide step-by-step support from preliminary diagnosis of E-7 possibility → design of job description strategy → application for change of residency status.

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