Do you support a foreign company planning to expand business in Japan?
Yes we do. We have many clients from overseas whom we support from the company set up phase to daily outsourcing services such as bookkeeping, payroll, and accounting/tax advisory.
How long does it take to incorporate a company in Japan?
It takes about two weeks to complete the registration. Process time may differ depending on the Legal Affairs Bureau, so please allow some extra time when planning incorporation.
What are the benefits of outsourcing to Maki Itakura Accounting Office?
By outsourcing to us, you have an access to our expert advice at all times, reducing business costs as you don’t need to worry about personnel carrying costs or turnover, and improve productivity as you can be assured that the accounting responsibilities will be completed on time.
Is the Japanese tax regulation strict?
With significant tax law changes and increased tax enforcement efforts through strengthened tax audits, accurate and timely tax filings are more important than ever in Japan.
Our tax compliance professionals can help you meet your tax compliance obligations timely, accurately and efficiently, as well as can provide you with proactive tax advice to help you manage your tax requirements.
How much do you charge?
The fees associated with managing your accounts will vary in accordance with the particular requirements of your business, payroll requirements, volume of transactions and any extra services you require.
We tailor monthly, fixed fee packages for each of our clients so that they cover the time and resources required to manage their accounts.
For an estimate, please contact us via email. E-mail: info@m-itakura.com
What are the typical legal structures and pros and cons?
There are some typical types of corporate structures available: Kabushiki Kaisha (KK), Godo Kaisha (GK), Gomei Kaisha, Goshi Kaisha and LLP. Normal choices are the KK or GK. Typically, KKs are considered most credible while incorporation costs are higher (Approx. 3K USD) than other options (Approx 1K USD for GK). We will advise you of the legal structure most suitable to your needs.
Can a non-resident of Japan become a representative of a company?
Yes, they can. However, we find it difficult to open a bank account in Japan under a non-resident’s name. A branch office requires that at least one of the representatives is a resident of Japan.
Is it possible to incorporate using in-kind contribution?
Yes, it is possible. You can set up a company with other than cash such as PC.
How much capital is required for incorporation in Japan?
To incorporate a single corporation in Japan, there is no minimal capital requirement. Technically you can incorporate a company with the capital of 1 yen. However, we do not recommend it for credibility reasons with banks, suppliers and investors. Most companies start with a company of ５ million yen or more. Please note that this is the minimum requirement per person if you plan on sponsoring a business investor visa.
How long does it take for incorporation in Japan?
It takes about two weeks from application to completing the registration. Process time may differ depending on the Legal Affairs Bureau, so please allow some extra time when planning incorporation.
Do you provide nominee services?
Yes, we do.
The Representative Director of a Kabushiki Kaisha (called an Executive Manager for a Goudou Kaisha) must be appointed at the time of establishment. As of March 16, 2015, this person no longer needs to be a resident of Japan, but common practice suggests appointing a Nominee individual locally in order to ensure a smooth setup. The individual in this position gives up their right to unemployment and workman’s compensation, and bears the risk that any litigation toward the company could fall upon them, as they are not considered an employee but a principal of the company. They also have the ability to independently bind the company to any contract. Given this, foreign companies are hesitant to appoint someone living in Japan to this role. With all of these risks, some companies will choose to appoint a Nominee Resident Director, which ultimately resolves all these issues by practically reinstating the power of attorney of the foreign office and removing any risk associated with appointing someone locally.
What is the requirement to obtain Investor/Business Manager Visa?
To obtain investor/business manager visa, the business will have at least two full-time employees ideally. If this requirement is not met, it may be possible to demonstrate a capacity to employ at least two full-time employees. This would typically be done by demonstrating paid in capital of at least JPY5 million.
Do you assist us in buying out Japanese companies?
Yes, we do. We can perform financial/tax due diligence to determine the risks associated with a merger or acquisition.
Do you have English speaking staff?
Yes, we do. We have bilingual staff to support non-Japanese speaking clients.