It has been reported that the Justice Ministry is in the process of reviewing key requirements for foreign nationals wishing to start a business and reside in Japan.
According to sources, the main criteria they are seeking to amend for the foreign investor visa is the capital provision of 5 million yen. This is the minimum amount required for budding foreign entrepreneurs planning to apply for resident status.
The move is seen as a vital aspect of trying to kick-start the domestic economy by appealing to a wider range of investors, including those with access to fewer financial resources. Furthermore, it is part of a broader move to encourage potential business owners to see Japan as a viable destination for Start-ups.
Basically, the concession will be made to those business owners who have been successful in garnering local municipality financial support for their company. This could be in the form of financial grants, subsidies and rental discounts, which will all be counted towards the entrepreneurs total capital base.
As a result, this will enable investors to effectively fulfil the minimum financial requirements if their total savings amount, including local government support, exceeds 5 million yen.
The easing of these rules is expected to take place in the next couple of months, so hopefully, there will be an official announcement sometime in the first half of 2018.