Latest / IMI Podcasts / How to Get Residency in Japan by Managing or Opening a Business

Transcript

How to Get Residency in Japan by Managing or Opening a Business · IMI Podcasts

• 0:00
  SPEAKER_00: In the not so distant past, Japan kept its immigration policy extremely restrictive.
• 0:05
  SPEAKER_00: However, the land of the rising sun has been loosening its grip due to labor shortages and an aging population, letting in the fresh breeze of foreign talent.
• 0:15
  SPEAKER_00: The Specified Skilled Worker Visa, launched in 2019, is writing a new chapter in Japan's immigration history.
• 0:23
  SPEAKER_00: The demand for foreign workers in Japan is growing, particularly in key sectors such as agriculture, manufacturing, and service industries.
• 0:32
  SPEAKER_00: This demand offers new opportunities for Asian migrants.
• 0:36
  SPEAKER_00: The success rate of Asian groups migrating to Japan has been impressively high.
• 0:41
  SPEAKER_00: This is driven by Japan's urgent need for skilled labor in specific industries and relatively lenient immigration policies.
• 0:49
  SPEAKER_00: They usually come to Japan through Japanese business manager visa.
• 0:53
  SPEAKER_00: In 2022, a total of 393 highly skilled professional visas were approved in Japan, of which 328 were for Asians.
• 1:03
  SPEAKER_00: In the same year, the government approved 4,396 business manager visas, 3,869 of which were Asians.
• 1:13
  SPEAKER_00: By 2023, the number of Asians approved for highly skilled professional visas reached 898, an increase of approximately 173.78% from 2022.
• 1:26
  SPEAKER_00: The number of Asians approved for business manager visas reached 5,002, an increase of approximately 29.28% from 2022.
• 1:35
  SPEAKER_00: The pattern is clear.
• 1:36
  SPEAKER_00: Applying for the Japanese Business Manager Visa involves meeting several specific requirements to demonstrate the applicant's capacity to operate or manage a business in Japan.
• 1:47
  SPEAKER_00: These are the personal requirements in getting a Japanese business manager visa.
• 1:52
  SPEAKER_00: First is proof of residency.
• 1:55
  SPEAKER_00: While not explicitly stated in the search results, generally proof of residency in Japan is required, which may involve having a residence card.
• 2:04
  SPEAKER_00: Second is your application documents.
• 2:07
  SPEAKER_00: You will need to submit various documents to the tax office, including your CV, proof of academic background, work experience, company registration documents, bank account balance, articles of association, and tax notifications.
• 2:22
  SPEAKER_00: As for the work experience, you should have management experience.
• 2:26
  SPEAKER_00: If you intend to engage in business management activities, you should have at least three years of relevant business management experience, which can include years of business management study at a graduate school.
• 2:37
  SPEAKER_00: Here are the following requirements of future company in Japan.
• 2:41
  SPEAKER_00: First is a business plan.
• 2:43
  SPEAKER_00: You must present a detailed and viable business plan.
• 2:47
  SPEAKER_00: If you're extending an existing overseas business to Japan, the plan may be accepted as is.
• 2:53
  SPEAKER_00: However, if you're starting a new venture, you need to provide a clear description and explanation of the business's prospects and expected profits for the Japanese Immigration Bureau to assess the promise of your business.
• 3:05
  SPEAKER_00: Next is capital investment.
• 3:08
  SPEAKER_00: A minimum capital investment of 5 million Japanese yen is typically required to demonstrate the financial feasibility of your business.
• 3:16
  SPEAKER_00: Third, is a business office in Japan.
• 3:19
  SPEAKER_00: You must secure a dedicated office space for your business operations.
• 3:24
  SPEAKER_00: This space needs to be a physical location, not a virtual office.
• 3:28
  SPEAKER_00: It should be dedicated to your business activities with a contract specifying office use, ideally in the company's name.
• 3:36
  SPEAKER_00: Fourth, and finally, is company registration.
• 3:39
  SPEAKER_00: You must have completed your company's registration in Japan.
• 3:43
  SPEAKER_00: This includes having the necessary business licenses and certifications depending on your industry.
• 3:49
  SPEAKER_00: Getting a Japanese visa is all about business acumen, not personal flair.
• 3:54
  SPEAKER_00: Applications need to make fiscal sense, and the applicant's expertise needs to align with the proposed business's requirements.
• 4:01
  SPEAKER_00: Although these Asians have easily obtained Japanese visas, getting one is just the opening act, not the grand finale.
• 4:09
  SPEAKER_00: The industries these Asians were engaged in previously in Southeast Asia, such as gambling, real estate speculation, and even wildlife breeding, are clearly not viable in Japan.
• 4:20
  SPEAKER_00: These individuals must face the need for industrial transformation, such as entering the construction, manufacturing, and service sectors, and closely align their development with Japan's economic growth.
• 4:33
  SPEAKER_00: Japan's social welfare, education standards, and quality of life are significant factors attracting middle-class families from Asia.
• 4:41
  SPEAKER_00: They hope that migrating to Japan will provide their children with a better educational environment and growth opportunities.
• 4:48
  SPEAKER_00: I expect Japan to relax its immigration policies further, especially regarding specified skilled workers, to attract more foreign labor.
• 4:56
  SPEAKER_00: This will alleviate domestic labor shortages and offer more development opportunities for Southeast Asian groups.
• 5:03
  SPEAKER_00: Although the surge in immigration to Japan has already formed within a small circle, it remains a potential opportunity for most industry practitioners.
• 5:12
  SPEAKER_00: As Japan's immigration policy continues to open further, I expect Asian groups to achieve dual development in their personal and professional lives in Japan.
• 5:26
  SPEAKER_00: This episode first appeared as an article by Hannah Ma on IMIDaily.com.
• 5:31
  SPEAKER_00: Subscribe for free to the IMI newsletter for breaking news and updates from the investment migration industry.
• 5:38
  SPEAKER_00: And upgrade your membership to IMI Pro to get access to our exclusive professional community, insider data, private briefings, and members only content.