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Japan eyes relaxing residency requirements to enable foreigners to set up a business

By on October 31, 2023

Japan’s Immigration Services Agency is considering to allow foreign entrepreneurs to stay in Japan for two years to prepare and launch a business provided they have a concrete business plan and can meet other conditions, even if they do not have a place of business and/or capital funds, according to government sources.

The move is aimed at revitalizing the economy by making it easier for foreigners to set up a business in Japan.

In the current set up, foreigners who want to start a business in Japan must first have a place of business or an office including hiring of two or more full-time employees. They also must put in a capital of at least 5 million yen that will make them eligible to get an investor’s visa. These requirements are considered difficult to meet by foreigners without means.

In 2015, Japan introduced a six-month residency program for foreigners preparing to start a business, but it was limited to national strategic special zones such as Tokyo and the southwestern city of Fukuoka.

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