Exploring Japan’s Startup Visa in 2024: A Guide for Aspiring Foreign Entrepreneurs
Introduction
Japan’s Startup Visa program has become a significant entry point for foreign entrepreneurs aiming to establish their businesses in Japan. This guide offers an updated overview of the program, emphasizing its key features, application process, the role of municipalities, and the changing landscape for foreign business founders in Japan.
Overview of Japan’s Startup Visa
The Japan Startup Visa is designed to help foreign nationals create startups in Japan. Initially granting up to six months of residency, it offers up to a year.
Firstly, regarding the duration of the Startup Visa, the Immigration Services Agency of Japan plans to revise the ordinance related to the “Business Management” residency status within the fiscal year 2024, allowing foreign entrepreneurs to stay for up to two years without the need for investment funds or establishing a physical business location in Japan. This is an extension of the one-year period previously mentioned.
Furthermore, the Japanese government has announced that it will establish a system allowing foreigners who wish to start their own businesses to stay in Japan for up to two years without an office or investment. We will update information on this new system on this site as appropriate while we await the announcement of the details.
Application Process and Required Documents
Applicants need a resume, a passport copy, and a New Business Implementation Plan. Submissions go to local visa agencies or via a proxy. The process includes an interview and takes about a month. Approved applicants get a Business Start-up Confirmation Certificate from the local immigration bureau.
Next, concerning the application process and required documents, applicants must submit not only a business plan, resume, and a copy of their passport but also proof of residence for six months and proof of funds.
Eligibility and Conditions
The visa targets foreign nationals planning new ventures in Japan. Requirements vary by local government. For example, Fukuoka City focuses on fintech and medical technology.
Role of Local Governments
Local governments are crucial in supporting foreign entrepreneurs. They assist with visa applications and business setup consultations and provide temporary office spaces.
Participating Municipalities
Several municipalities offer the Startup Visa, each with its unique focus:
- Fukuoka City: Fintech, software development, health, medical, and welfare.
- Aichi Prefecture: IT, robotics.
- Osaka City: Manufacturing, healthcare, life sciences, tourism.
- Kyoto Prefecture: Manufacturing, AI, IoT, environment, energy.
- Tokyo and Shibuya: Open to various business ideas.
- Hamamatsu City: Known as a “Manufacturing Start-up Hub” with support like grants and business-matching services.
Recent Changes and Involvements
The Ministry of Economy, Trade, and Industry plans to allow private companies, involving venture capitalists and startup accelerators, in the visa screening process.
Economic Impact and Focus
The program supports foreign entrepreneurs in agricultural technology, addressing labor shortages and promoting innovation in agriculture.
Post-Startup Visa Application
After securing the Startup Visa and establishing their company, entrepreneurs can apply for a Business Management Visa for more than one year, allowing them to start business operations and generate revenue.
Conclusion
Japan’s Startup Visa program provides a unique opportunity for foreign entrepreneurs, now more accessible and supportive than ever. With the involvement of various regions and municipalities, Japan is nurturing a dynamic startup ecosystem.
Entrepreneurs should stay informed about the latest developments in their preferred Japanese region or city. Whether it’s Fukuoka, Aichi, Osaka, Kyoto, Tokyo, or Hamamatsu, Japan is ready to welcome your entrepreneurial ambitions.
