process of preparing capital wi

2021/05/21

The process of preparing capital will be reviewed by the Immigration Bureau. There have been cases that even though the corporation registers were approved in Japan, the immigration bureau has decided to reject the visa applications or extensions. Having Japanese staff is not mandatory.

There are two visas specifically designed to make the lives of foreign entrepreneurs in Japan easier 4-Month Business Manager Visa and Start-up Visa. If you are interested in learning Japanese online, please check our other service here: japaneseonline.gogonihon.com., Please select a language from the drop-down listbox..

Choosing a bank and opening an account can appear challenging to foreigners due to the language barrier and complex bureaucratic procedures, especially to those planning to start a business. If you obtained the 4-month Business Manager visa, you may then apply for an extension of stay and change it to 1-year Business Manager visa. KK is a type of business organization Americans call share company, stock company, joint-stock company, or stock corporation. In order to set up a company in Japan, it is necessary to follow several steps : Securing a resident Representative Director, or in some cases a third party, who will provide a bank account to deposit the capital. 10 articles that will help you prepare to study in Japan - https://gogonihon.com/en/blog/10-aticles-to-prepare-to-study-in-japan/. For proceedings in Japan and to obtain a Business Manager visa, it is easier, if you have a Japanese partner. On the other hand, if you are setting up a kabushiki kaisha or KK company in Japan, you will need to get all your Articles of Incorporation notarized.

Finding a long-term rental space is not hard, and you can do it yourself by browsing the websites specialized in advertising office spaces or going through ads in the newspapers. You basically have to put your signature to close the deal or sign a contract.

Foreign Entrepreneurs to start up in Japan Currently, it is available in Tokyo, Hiroshima and Aichi Prefectures, Sendai City, Fukuoka City, Imabari City, and Niigata City. Once the company is registered, it is possible to obtain a registry certificate and company's seal certificate, which are required at various business situations such as opening a corporate bank account, or signing business or employment contracts in company's name. There is no withdrawal limit with Japan Post Bank and no international fees. Permanent Resident or Special Permanent Resident .

Flow and Notes of Starting Business in Japan In addition, securing business funds and procuring funds is one of the most important things when starting a business. Business management visa does not require applicants educational background or work experience as a requirement if it meets the requirements of business scale (investment of 5 million yen or more). What kind of business do you start and how you differentiate and win the game? *ONLY FOR KK, not require for GK, Notarization fee : 50,000 yen If you do not have a bank account in Japan, you need a business partner to lend a bank account in Japan. This means that we are expecting more improvement in the Japanese bureaucracy, like making it easier to acquire foreign business visas and register documents.. Spouse or Child of Permanent Resident This website utilizes cookies. The immigration bureau will check you and your familys bankbookaccount and contract. We provide expert Japanese business advice to both individuals and businesses. When acquiring a business management visa, there is a requirement that business establishments must be secured separately from home. Once you set up your business in Japan, you can apply for an extension of stay, which is 1 year. We have talked in our blog about, , but in this article, we will be diving deep into the technicality of registering and establishing your own company in Japan., While Japan may not be among the top countries in Foreign Direct Investments (FDI), reaching only $14.5 billion of investment in 2019 (compared to, for example, Germanys foreign investments in 2020 of $74 billion according to, ), Japans government is actively seeking ways to make it easier and smoother for foreign investors and entrepreneurs to start their business., . The visa validity is only for 6-months to 1 year and it is only available in specific cities or prefectures. If you already hold a different type of visa, you may apply for a change of status of residence to 1-year Business Manager visa. He had provided financial advisory more than 500 entrepreneurs and senior management. We have an in-depth guide about it which you can find here. The commercial retail industry in Japan answered the demand continuously growing business enterprises created. These documents include a letter of agreement from the director about to assume your company office and the proof of the companys seal registration completion. Registering a trademark means that the authorities of Japan will officially recognize it and see you as the person of control and proprietorship over your company. Highly Skilled Professional(i)(c) and Highly Skilled Professional(), Need to get Business Management VISA Here is the list of the documents you might need to qualify for the investor visa: Since we mentioned opening a bank account in Japan, lets quickly look at the banking opportunities you have in this country. This meant lower capital requirements and less restriction on things like where executives live, visa statuses, etc. Japan is not much different than any other country in terms of trademark laws. Seven Bank is similar to Shinsei Bank in terms of online banking. After preparing all the documents, you can file the application for business registration at the Registry office (Homukyoku). Once you have the COE, exchange it for the investor status of residence at your companys embassy or consulate in Japan. If you do not have a Japanese visa, you can apply for a 4 month Business Manager visa from the beginning This Business Manager visa has been created to make it easier for a foreign national to make preparations to start a business in Japan. They offer a lot more benefits than other office rental options: Before signing a lease, you have to understand the basic lease terminology. To start a business, both a practical business plan and your career record are very important. mitsu desu eels KK is a company whose stocks can be traded in the open market. 20 million yen for temporary staffing service). In Japan, companies dont rely on signatures, but on Hanko stamps, also known as Inkans. Learn about the common lease terms and practices in Japan before signing a long-term rental lease. In this case, a foreigner (you) applying for business management visa needs to make a capital of 5 million yen or more by one person. Normally, it takes us between 1 3 business days to respond to your email. Setting up a business in Japan is not only reserved for Japanese nationals. The requirements may vary from bank to bank, but these are the most common ones: If you plan on sending money to your home country, you should look for banks that offer a remittance function. Starting your own business in Japan can be overwhelming since the process is very long and can be complicated. It is crucial to include all sorts of details like profit and loss statements, your personal business history, etc. Application of the visa and status of residence for non-Japanese directors and employees In addition to establishing our own judging model within the bank, the qualitative aspects are also evaluated by judges staff. Investors personal bank account and passbook, Registration certificate of parent company. If you continue to use this site we will assume that you are happy with it. Japan is an ever-growing market, and its a hugely popular choice for foreign individuals and businesses who want to take the challenge of opening or expanding their business abroad. The process is also simple for those of you setting up a subsidiary company in Japan. You have options like short-term office rental, which offer various benefits like flexible lease terms, management options, start-up prices and sometimes access to furniture, IT and office equipment. Articles of Incorporation or teikan () are the bread and butter of setting up a business in Japan. If you live outside of Japan, you can put things in motion with the help of a certified immigrant official. The required documents for an investor visa depend on the type of business you are planning to start and of course your financial situation. What is the highest level of education you have graduated from? You can do everything from the convenience of your home. Be sure to check with your Bank all the requirements to set up your business account., A common bank for foreigners is Mizuho, which tends to offer more foreigner-friendly options in a number of ways. The outer circle features a company name, while the inner one contains a company representatives name. Managing a business that is already established in Japan. The Investor Visa can be granted for 1, 3, or 5 years which makes it unique when compared to other visa types. That being said, you will need to acquire a visa. Company seal The seal has to be registered at the registry office. Opening a bank account under the company's name Many foreign nationals want to start a business in Japan. These banks streamline account registration process and make it convenient for foreigners: This bank was founded in 1876, making it one of the oldest banks in Japan. To complete the subscription process, please click the link in the email we just sent you. Seal certificate of each director The certificate has to be issued within 3 months. The procedure of getting a visa is quite simple. Heres a list of visa types that can be obtained when starting a business in Japan: A Business Manager visa is an employment eligibility status for foreigners who want to either launch a business or take part and engage in the operations of an already existing business., If you do not hold a Japanese visa, then you can apply for a 4-month Business Manager visa. The word invest means that 5,000,000 JPY must come from abroad into your Japanese bank account so the government can be satisfied that you are bringing in foreign capital. Step 3 Once the Certificate of Eligibility is ready, you will have to pick it up from the immigration office. Get up-to-date on the Japanese market with our monthly newsletter. To open an individual bank account before establishing your company, you will need: Note that some financial institutions have different requirements, and you might need more documentation. The outer circle features the name of the company, while the inner one serves as the corporate seal for banking. It is also very important to make sure that your business plan does not disobey Japanese law., To obtain the business manager/ investor visa, youll need to have a capital or overall investment of 5,000,000 yen.. Registration fee : minimum 150,000 yen for KK 60,000 yen for GK. A Start-up visa is a remarkable initiative of Japans government to bring in foreign entrepreneurs in Japan. (at the Notary Office / Koshonin yakuba) Initial deposit amount (there are no minimum requirements in most cases but confirm with your bank first). If your business requires some sort of professional license to operate in Japan, it could take 2 to 3 months before being able to fully operate the business. Once you have a Residence Card, it becomes relatively easier to secure an office space and open a bank account. 18 years experience in Investment Banking at Mitsubishi UFJ Morgan Stanley. The registration fee minimum is 150,000 yen for Kabushiki Kaisha and 60,000 for Goukou Kaisha. However, if you do not have business experience, you must explain your business plan for success. What length of study are you interested in? Foreigners who already have Japanese resident cards and have Japanese bank accounts can proceed smoothly to establish the company. Note that if you are a foreign individual expanding your business in Japan, you will need all the documents listed above. The following documents are required for trademark registration: The costs associated with registering a trademark include: The most common thing used in business as a personal identifier is a signature. We support you with setting up business in Japan. Therefore foreigners living overseas can have business partners in Japan (directors of your company) contract for real estate for business. Even foreigners have to communicate with Japanese financial institutions to raise necessary funds appropriately. Subsidiary (company established under the Japanese Law). Seven Bank is another great bank for entrepreneurs with business plans in Japan. In some rental offices, there seems to be some properties that contracts with passports alone, but in reality it is difficult to contract office properties. Immediately following this, I worked some 21434 odd part- time jobs, founded a sole proprietorshipa limited liability companyand then finally, in 2011, I incorporated my first business in Japan with Go! Which city are you interested in studying in? There can be problems associated with hiring people and taxes. In Japan, GK is a type of business organization Americans call limited liability company (LLC). Hanko contains your name in either kanji, katakana alphabet or a Latin version on its stamping surface. The notarization of the Articles of Incorporation is handled by the Notary Office or Koshonin Yakuba.

from all around the world and we provide This means that we are expecting more improvement in the Japanese bureaucracy, like making it easier to acquire foreign business visas and register documents.. Here you'll find all collections you've created before. While services offices offer great benefits to entrepreneurs coming to Japan, a long-term rental is sometimes a more convenient option. You will need both sets if you are a foreign individual expanding your business in Japan. If all the executives reside in Japan, it will take 2 to 3 weeks to the complete the company establishment.If there is a nonresident, it takes about 1 month because it takes a long delivery time. I have heard this many times, but it is absolutely untrue. In some cases, a website can suffice for proving the existence of the company, though you always want to err on the side of more is more in order to pass the review process. I wonder who started spreading all this misinformation! Work with Japanese affiliates to sell your online products. A Goudou Kaisha, abbreviated GK, is a type of business structure modeled after the American Limited Liability Company. My introduction to life in Japan started in 2008 when I began studying at a Japanese language school on a student visa. Call Now +81-3-5913-9750/+81-70-3100-1670, 2.If you currently have a different Japanese visa. Not if you dont want to be. However, these terms are always changing.. To apply for the visa, you will have to submit a business plan in Japanese to get a recommendation letter from the local government office in one of the listed cities. Another misconception here. But in practice, the situation is different. Note that the government will check your bank book and will be looking for the exact line item of capital to register. Student That being said, having a Japanese person working with you, especially if your Japanese is not at N1 or N2 level, is definitely recommended.

You can start a company and still get a business investor visa ( ) without any employees other than yourself. It is very important to note that this cannot be a virtual office, temporary structure, or houses. In the list below you can find some of the documents youll need to qualify for the visa (the requirements might change with time, so double check, Apply for an investor visa Certificate of Eligibility (COE).. Japanese Companies Use AI in Recruitment Process, Remote Workers May Help Boost Dwindling Local Economies, Government to Offer Funds to Companies Involved in 5G Development, The New Normal Involves Connected Face Masks from Donut Robotics, Foreign Student Accommodation Rising Opportunity for Investors, Proof of your residency rights (4-month business manager visa, start-up visa, or investor visa), Proof of residency (you can get this one from the government office in the area of your residence), Contact information (phone number and address), The initial deposit amount (there are no minimum requirements here, but the most common initial deposit amounts to a few thousand yen on average), Your name (the name has to be in Japanese katakana script), Your Hanko seal (most banks will allow you to use your signature if you still dont have your Hanko), Access to furniture, IT and telecommunications infrastructure, and office equipment, Trademark registration request in Japanese, Information about the trademark including a description, drawings, claims, and an abstract in Japanese, Complete list of services and/or products associated with the trademark, Application fee of 12,000 for one trademark in one class, and an extra 8,600 for registering the same trademark for an additional class, Renewal fee 38,800 every 10 years (you have to renew it within the 6-months period prior to trademark registration expiration date). There are personal and business Hankos. The duration of the granted period and whether you are able to prolong it depend on the profitability of your business and other relevant business performance metrics. Japan introduced the 4-Month Business Manager Visa 4 years ago. I am not Japanese, and I did not have a Japanese partner in 2011 when I founded my company. Once you get Ginko-in, you will have to register it with the bank. Foreign nationals are not allowed to start setting up a business in Japan just like that. Kaisha Jitsu-in is used with Kaku-in. The bank provides services in English and all the services are available online. 2.2 STEP1Create your Business Plan After your company is registered, you should acquire the registry certificate, companys seal certificate, and corporate number. This is why many entrepreneurs and investors decide to go with the 4-month visa and then submit an application for an investor visa after they have settled their business in Japan. There are two options for changing your visa to a Business Manager visa: The startup visa program is a temporary residence permit for entrepreneurs who want to start a business in Japan but dont have enough resources to apply for a Business Manager Visa. Read more about the Japan Corporate Number and how it applies to you. In order to establish a company in Japan it is necessary to determine company address. Here are the details on the procedures and costs for setting up a company in Japan. The Japanese government has been trying to increase its support for foreign enterprise since 2015 which led to a steady increase in foreign business in Japan. I am sorry to ruin the hype that I was building up to this point! Renting an office in Japan for the short term is a very popular option these days. You will need these documents to sign employment and business contracts and to open your official corporate bank account in Japan. This is why many entrepreneurs and investors decide to go with the 4-month visa and then submit an application for an investor visa after they have settled their business in Japan. On a side note, in theory, you can start a business with minimal capital. When a foreign national tries to establish a business in Japan, there are many hurdles. Nihon. In Humble Bunnys case, we had to withdraw the capital amount and then re-deposit it in order to create the entry exactly to the capital amount registered. In this case, please complete your corporation registration while your visa period is still valid. 1.1 Status of Residence for Business Management If you do not need to obtain a business management visa, and not need business license,you can start the project in about 1 month in the shortest. If you would like more information and to begin planning for your study in Japan experience, please read our blog article: You will find their website particularly useful, as it features all the guides on the bank account registration process in English. All they need to do so is a personal bank account in Japan or a director/shareholder with such an account and an address for registration. This includes the J-startup Program and the introduction of start-up visas.. 2.4 STEP3Acquiring business licenses (as necessary) All Articles of Incorporation and other documents must be signed or sealed by the parents company and each director. As we mentioned, Japan has been trying in the last years to introduce new processes to make it easier for foreigners to invest and build a business inside Japan. Now you can exchange it for an investor status or residence (SOR) at the Embassy or Consulate of Japan. Risk management when the market environment has deteriorated. Particularly, Ive found there are a lot of common misconceptions out there. Also, in principle, it is necessary to repay the loan within the period of stay. Almost finished We need to confirm your email address. Masakazu Murai If you hold a 4 month Business Manager visa, you may apply for an Extension of Stay and change it to 1 year Business Manager visa. Foreign nationals can also start a business in Japan. Please choose what it says in your passport. A start-up visa can be extended for another 6 months. From 1st April 2015, the first step for success in the Japanese market is to obtain a Business Manager visa. Once you register an account at JPB, you will receive a cash card and passbook. Sometimes it takes us a bit longer, but dont worry well get back to you as soon as we can! I can also strongly recommend using an immigration lawyer ( gyouseishoshi), for example Cosmopolitan in the link below. 2. 2.6 STEP5Financing for starting business( Bank loan) This money can be used to pay office rental fees, employee salaries, or what ever else you may need, money you will need to run your business in the first place. The start-up visa allows you the same rights as a 4-month Business Manager visa.. Foreign Entreprenurs to startup in Japan, 2. On the other hand, if you do not have Japanese resident cards and bank accounts in Japan , you will have problems when establishing a company. Long Term Resident Having to redo this process can be both time-consuming, and cost intensive if youre using third party partners to get the business registered. The owner of the company does not have to be a Japanese resident. In other words, a trademark is not yours until the authorities officially recognize it.

This visa puts you in a position to obtain a residence card, open a bank account in Japan, and register your business. From a business setup perspective, Japan also introduced new guidelines in 2006 to make setting up different business vehicles (like the GK and KK) much easier than they used to be.

Spouse or Child of Japanese National Also know that using a residence is not usually accepted (but there are some exceptions). If you are setting up a gd gaisha or GK company, you will only have to notarize revenue stamps, which will cost you 40,000 yen.