Introduction
Shibuya City in Tokyo offers a Startup Visa to invite new business from abroad. Entrepreneurs are provided a great opportunity to expand their business in the center of Tokyo. The details for the program will be shared in this article, including the eligibility criteria, the application procedure with requirements, monthly interview after approval, and the renewal to the business management visa.
Overview
The startup visa programme in Japan was launched in 2018, to encourage investments from foreign entrepreneurs and bolster the nation’s innovative potential. . The municipalities approved by the federal Ministry of Economy to sponsor the startup visa consist of the following:
– Fukuoka City
– Aichi Prefecture
– Gifu Prefecture
– Kobe City
– Osaka City
– Mie Prefecture
– Hokkaido
– Sendai City
– Yokohama City
– Ibaraki Prefecture
– Niigata Prefecture
– Oita Prefecture
– Kyoto Prefecture
– Hyogo Prefecture
– Shibuya City (Tokyo)
– Hamamatsu City
– Kaga City
– Toyama Prefecture
Shibuya, a ward of Tokyo, was one of the approved municipalities that pioneered the extension of the startup visa to a maximum of one year The extended time allows entrepreneurs to research the market and make a connection with local partners.
Moreover the city provides foreign founders a variety of operational and infrastructural support to set up a business. Such support services include a dedicated concierge service, co-working office spaces and the shared house spaces These initiatives foster opportunities to develop partnerships with local businesses as well.
Eligibility
Applicants must be engaged in a project aimed at enhancing the global competitiveness of Shibuya’s industries and fostering job growth. The eligible sectors consist of the following:
- Health, Medical
- Welfare Environment/Energy
- Food/Agriculture/Forestry/Fisheries
- Information
- Technologies
- Culture/Art Fashion
Note: Applicants who have already registered their business in Japan are presently not eligible for the startup visa.
Requirements & Application Procedure
All applicants have to follow these 4 steps for the approval of the visa.
1. Contact the city office
Candidates can get assistance from Shibuya Welcome Service when applying. Further information and contact details are provided on the Shibuya Startup Support website.
2. Required documents
- Application for confirmation of Business Activities
- Business Startup Activities Confirmation Application
- Schedule of business activity
- Resume of the applicants
- Pledge
- A document that guarantees your place of residence for six months after arriving in Japan (copy of the rental contract, or application for rental contract, etc.)
- A document that shows your bank balance
- A document that verifies the content of required documents such as certification from university, proof of the experience of previous companies you work, etc.,
- Copy of your passport Pitch Deck
3. Interview with the city office
After all the documents are reviewed, applicants will be interviewed. The Shibuya City Office will submit a candidate’s application to Immigration once it is approved.
4. Approval and benefits
The application process is estimated to take a minimum of three months.
Approved startups can avail the following benefits: :
– Support for business establishment, including obtaining a business and management visa.
– Complimentary co-working office space
– Assistance for settlement in the city
– Assistance fro for promotion and test marketing.
Monthly Interview
After receiving a startup visa, an interview will be conducted by the Shibuya city office each month. Failure to engage in business activities or attend these interviews may result in the cancellation of the visa.
Renewal to Business Management Visa
The startup visa must be renewed to a business manager visa after it expires. Only those who fulfill the following requirements can update the visa status.
– A dedicated office space (physical space; co-working spaces are not permitted).
– Two full-time workers or 5 million JPY capital at the minimum.
City Startup Welcome Service run by Shibuya provides foreign entrepreneurs support in upgrading their visa after the initial startup visa period. Further information and contact details are provided on the Shibuya Startup Support website.
Conclusion
Shibuya is not only the center of Tokyo’s life and culture, but also serves as a major business hub, home to a diverse range of companies. While the city has a geographical advantage with easy access to major places in Tokyo, it offers a great amount of resources to run business such as a working place, investors, and assisting service for office procedures. Moreover, networking events are organized in the city to facilitate connections among entrepreneurs and other stakeholders. The city is able to provide better opportunities to people who are new to business in Japan with all the advantages. Shibuya City welcomes international startups with ambitions.
About EXPACT
EXPACT provides a variety of operational support to domestic and international startups.
EXPACT offers market entry strategy advisory for international businesses looking to establish a presence in Japan. Our services are as follows:
– Advice for visas and programs: Providing guidance on suitable visas and government programs for foreign entrepreneurs (e.g., Startup visa).
– Market research assistance: Evaluating the potential market size and demand for the product or service
– Geographical evaluation based on the company’s target: Carrying out a location analysis to determine the most suitable region, prefecture, and city according to the startup’s specific needs.
– Support for applying financial aid programs: Sourcing and supporting the application process for applicable government grants and subsidies.
– Assistance for forming partnerships: Serving as a liaison to help the startup establish connections with local partners, investors, and government institutions.
– Advice for a business plan: Offering a business plan review with insights from a Japanese perspective.
– Translation services: Providing translation services for in-person meetings, virtual discussions and document preparation.
Additionally,, the company also offers One-Stop support from Startup advisory to Finance, PR, Recruitment and EXIT.
- Finance and Fundraisin): Advisory on financial health of startup and proposing an optimal fundraising plan, by applying for government grants and facilitating investor introductions. Activities include drafting a pitch deck, forming a business plan and/or cap table.
- Promotion: Publishing press releases, building media relations, branding.
- Startup Advisory: Business ideation, researching, conducting interviews, MVP analysis, investment access.
- Human Resources: Personnel strategy, hiring support, institution building.
- EXIT: IPO support, M&A support, exit system design.
For assistance or additional information, please contact us at info@EXPACT.jp for inquiries.
Inquiries on market entry strategies can be directed to pramod@EXPACT.jp
Written by Pramod Sharma & Yukari Kondo
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Reference:
https://www.city.shibuya.tokyo.jp/jigyosha/shoko-rodo-sodan/startup/visa.html