Things to be aware of when establishing a company as a foreigner

When a foreigner establishes a company in Japan in order to obtain the status of residence of "Business Manager", they must invest more than 5 million yen.
In order to prove that an investment has been made, the investment must be transferred to a bank account, but if the foreigner lives overseas and does not have an account in Japan, the investment is often transferred to the account of a collaborator living in Japan.
Recently, I was asked for advice: "I tried to transfer 5 million yen from overseas to a local bank account held by a collaborator in Japan, but the transfer was rejected. What should I do?"
Normally, it is possible to set up a company in Japan with capital of just 1 yen.
An investment of 5 million yen or more is only required for foreigners seeking to obtain a status of residence of "Business Manager".
For this reason, there may be many bank employees in rural areas who are unaware of this.
In fact, from what I heard, "The bank told me to transfer the money after establishing the company."
However, if you use this method, you will not be granted the status of residence of "Business Manager".

So, what should you do in this situation?
I think it's best to explain the rules clearly to the bank and show them the articles of incorporation of the company you want to establish.

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AKIRA YAMAMOTO.AKIRA

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