Want to work and live in Japan?
Japan new residency rules goal is to make it easier for people from other countries to start businesses there. They’re thinking about changing the rules for getting a special visa for entrepreneurs.
Starting on the 30th of this month, according to the Nikkei:
This opportunity will let you stay in Japan for two years based on business, no required fancy office or a lot of money to invest. This could encourage more foreign people to start businesses in Japan.
Usually, foreigners used to apply for the “Business Management” residence status in Japan. They need to have a physical office and at least two full-time employees or an investment capital more than 5 million yen. However, there has been criticism that these conditions created significant hurdles for startups with limited revenue.
Future Advancements
The government plans to ease these requirements by approving applications solely based on the business plan. This means you won’t need to fulfill conditions like having an office or investment.
Next year, Japan’s Immigration Services Agency aims to simplify and update the rules for “Business Management” residence status. These necessary changes will also apply to regulations and ordinances.
Furthermore, the Japanese government aims in easing visa requirements, attracting foreign entrepreneurs who can contribute to the economic recovery. This will open cutting-edge technologies and innovative ideas from overseas.
Japan Global Business Appeal
As of June this year, Japan’s Immigration Services Agency reported around 35,000 foreign residents under the “Business Management” category.
While this number has nearly doubled compared to 2015, it remains relatively low when compared to Japan’s economic scale. Japan ranked 21st out of 24 countries in business attractiveness, according to the Organization for Economic Co-operation and Development (OECD). They considered factors such as international corporations and tax systems.
The Japanese government aims to boost foreign entrepreneur interest and simplify business startups for international students by easing requirements. Despite this, Nikkei highlights challenges like digitizing administrative processes and overcoming language barriers.
In a nutshell, with Japan new residency requirements, this will make it easier to set up a business in the Land of the Rising Sun. Starting this month, the rules are getting revamped, offering a smoother road for those who dream of working and living in Japan.
This shift means no more hoops to jump through—no fancy offices or hefty investments required. The aim? To shine a spotlight on the business spirit and welcome a diverse range of individuals eager to make their mark.
Check out more latest news about Japan HERE.
