For the purpose of the facilitation of foreigner’s enterprise, a part of “Immigration Control and Refugee Recognition Act” had been amended and enforced on the 1st of April 2016. The name of status of residence obtained when a foreigner conducts enterprise operation has changed from “Investor” to “Business Manager”.
The details have changed as below accordingly.
- Changed in the activity pattern
Activities to conduct domestic trade and other business or the operation of the business
- Newly established 4 month period of residence
The residence periods are “5 year, 3 year, 1 year, 4 month and 3 month”.
- Clarification of business scope
For the capital stock, the total amount of investment is above 5 million yen
- Residence approval before incorporation
When you’re trying to open a business and establish a corporation, even the establishment of the corporation is not complete, if it is clear the Article of incorporation that you are trying to establish a corporation, the status of residence will be approved.
Previously, more than 5 million yen of investment per person is required. However, it was changed to the total of more than 5 million yen investment of the foreigner and Japanese investors combined. This means the foreigner who files for an approval request for status of residence must invest as much as possible to obtain the right of management.