Japan is a stably growing business hub, and it is one of the most popular choices of global brands and foreign businesses to set up their business in Japan. In other articles in this series, we discussed the advantages of entering the Japanese market. Today, we will discuss the technicalities involved in establishing and running a business in Japan.
Japan is not one among those countries topping in Foreign Direct Investments (FDI), which is reaching to only $14.5 billion by the year 2019 (For example, FDI of Japan is far lesser compared to that of Germany’s, which his $74 billion in 2020 as per the UNCTAD 2020 Report.) However, Japan’s government is now promoting FDI and improving ease of doing business for foreign entrepreneurs and investors to establish their business in the country.
Types of visas
As explained by Kavan Choksi Japan, the most important part for foreign business people to establish their business in Japan is to obtain an appropriate visa. Here are a few visa types that Japan offers:
Business Manager Visa
A business Manager visa is for foreigners who plan to launch a business or to take part in an existing business in Japan. This visa enables one to start and manage a business in Japan, manage an already existing business, manage a business on behalf of the corporation, etc.
This program is like a temporary residence for entrepreneurs who want to set up a new business in Japan but do not have enough resources to avail a Business Manager Visa. The validity of this visa is six months to 1 year, and it is available in a few specific cities only. To apply for this visa, you have to submit the startup business plan in the Japanese language. A startup visa will give you the same privileges as Business Manager Visa for four months.
This type of visa is granted for 1, 3, and 5 years respectively, based on the applications. This makes it more unique than the other foreign Visas types for business in Japan. The duration of the granted period, or it can be prolonged, is based on the profitability of your business in Japan. You need to apply again for an extension with all the performance metrics being submitted. Documents for investor visa applications are based on the type of business you plan and your personal financial situation. Some of the documents needed include but are not limited to
- Complete business plan.
- Info regarding investment.
- Company registration and regulatory documents.
- License for business.
- Documents related to office/business space/factory rental.
- Details of professional background.
You have to do all these by yourself if you do not have any help from a certified professional in the country. Kavan Choksi Japan is a well-known professional business consultant who will be available to offer your business and investment-related consulting in Japan.