Is JPY 5 million Enough to Immigrate to Japan?
Is JPY 5 million Enough to Immigrate to Japan?
Nowadays it is commonplace for young Hong Kongers to work hard and work long hours to make a living, but in a city that has been ranked as one of the most unaffordable cities in the world to live, this has become increasingly a struggle. To many, getting a foot on the property ladder is an unattainable dream. In addition, the political situation in Hong Kong is becoming more unstable. This has given rise to the desire for immigration. In addition to the US, Canada, Australia and New Zealand, the first choice for investment immigration is Japan, a country which Hong Kongers know and love.
I think you will not object that Hong Kongers like Japan. There are many reasons that attract Hong Kongers to explore a new life in Japan. Not only is the political situation stable, and the quality of life is high, but the culture is relatively similar to Hong Kong. Some of the most popular cities for Hong Kongers to live include Tokyo, Osaka, Kyoto, Okinawa and Hokkaido. However, many Hong Kongers misunderstand the requirement of JPY 5 million (around HKD 350,000) to invest and set up a business. If you plan to move to Japan, please read on and we will explain in detail in this article.
“Business Management Visa”
First of all, if you want to do business in Japan, you must first apply for a four-month business visa. When applying, you must prepare a detailed plan. After the approval is obtained, you need to apply for a Japanese bank account and residence card. Applicants do not need to know Japanese language and there is no age limit for the applicant. Also, the company the applicant operates is not limited to a specific type of business nor scale of business. Applicants need only to have an office in Japan and to meet the requirements of “promoting the Japanese economy” and they are eligible for application.
The application process for setting up a company is complicated, and it is better to hand it over to a professional administrative scrivener. Once you have a company, you can apply for a one-year Business Management Visa.
90% of Foreigners Underestimate the Cost of Setting Up a Business
There are many articles on the internet that say you only need to invest JPY 5 million (around HKD 350,000) to immigrate to Japan. In fact, the CEO of our company, Japan Hana, has lived and operated a company in Japan for more than 10 years. She points out that JPY 5 million is not enough. JPY 5 million is only the lowest registered capital required to set up the company, but the capital can be used later for the operation of the applicant’s company. There are other expenses to bear in mind.
Other initial expenses include the deposit for renting an office, monthly rent and other start up costs, employee salaries, website or business equipment and other expenses. At the same time, the applicant must have sufficient salary income each month equivalent to the local standard of living in Japan and they must ensure that there are expenses and income to show It is not a shell company. Most importantly the profitability of the business must be maintained.
Does the “Business Management Visa” Provide Permanent Residency or Citizenship in Japan?
You can apply for permanent residency if you have lived for more than 10 years or you can apply for citizenship after 5 years. It is easier to obtain a one-year Business Management Visa for the first time, but the approval for renewal will be much stricter, and will include consideration of the company’s operating conditions and the ability to pay profits for taxation. It is difficult to reapply if the approval is rejected.
“Highly Skilled Visa Points System” Express One-Year Permanent Residency
The Highly Skilled Visa provides the opportunity to apply for a permanent residence in 1-3 years depending on the number of points obtained, for professionals with high academic qualifications or who work for a company that has considerable turnover.
“Nikkei Shimbun” recently reported on the Japanese government’s latest information on the acquisition of “Permanent Residency” through the Highly Skilled Visa Points System. It reported that the Highly Skilled Visa added the animation and fashion industry categories to the list of occupations. As long as applicants reach 80 points in the points system and have lived in Japan for one year, the right of permanent residence can be granted.
Frequently Asked Questions
Q1: What if I cannot understand Japanese?
This is not a problem, our company, Japan Hana, will handle all application procedures, including communication with Japanese lawyers, translation and other services.
Q2: How much tax do I need to pay every year?
The first condition for renewing the Business Management Visa is business performance, and the business profits must be a positive number. At the same time, the corporate tax for the profit of the business must be paid every year.
Q3: How to obtain Permanent Residence?
All foreigners who have a business in Japan are eligible to apply for Permanent Residency after they have lived for more than 10 years. Prior to that, they would be entitled to renew their Business Manager Visa on the basis of 1 year, 3 year, and 5 year renewals. It should be noted that the Permanent Residence is a right of abode only. It does not mean the possession of Japanese nationality or voting rights.
Q4: What advice do you have for investors who run a small business?
It is necessary to consider housing and shop rental costs, plus visa fees, and it is recommended for applicants to prepare at least the first year’s living expenses and other expenses before applying.
Q5: If you don’t have business expertise, what kind of business can you run?
Investors who do not have expertise in running a business can choose to invest in and operate legal homestay Airbnb properties, or to purchase local restaurants, or other businesses. Japan Hana has a variety of investment immigration projects for investors to choose from, please contact us for details.
If you already have a company and want to open a branch and apply for a visa in Japan, Japan Hana has a Japanese company opening service and visa application service. For details, please contact us.
Release time: March 24, 2019
Update time: March 23, 2021
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