Japan corporate bank account
Healy Consultants assists our Clients with the opening of a corporate bank account in Japan without travel. Our experienced banking team will prepare all requisite documentation on your behalf and submit them to the bank. We will also attend the bank interview on your behalf. See below to find out more about business banking in Japan.
Healy Consultant’s Japan corporate banking services
- Healy Consultants can assist both locally-incorporated and foreign companies to open a corporate bank account in Japan. We will be pleased to assist our Client open a Japan corporate bank account without travel;
- As global banks continue to tighten bank account opening procedures, their internal compliance departments are completing more thorough due diligence of Clients. Healy Consultants help Clients prepare detailed business plans and supporting document for increased probability of account approval. Consequently, our Clients should expect the bank account approval to take up to 3 weeks;
- Healy Consultants highly recommend opening a corporate bank account with Citibank because based on our experience, Citibank offers the best customer care service to foreign Clients;
- For our Clients with preference for Japanese banks, local banks recommended by Healy Consultants include i) Mizuho Bank and ii) Bank of Tokyo-Mitsubishi UFJ. See this page for a full list of banks with a presence in Japan.
- Japan has strengthened its anti-money laundering (AML) regulations to meet global standards set by Financial Action Task Force. Clients should expect to produce more supporting documents such as i) contracts, ii) invoices and iii) other proof of business to open accounts;
- Banks in Japan are complaint by Protection of Personal Information Act (PIPA). Banks are required to appropriately handle customer information in relation to its business, Banks will not be able to disclose customer information due to its general duty of confidentiality under civil law.
Other corporate bank account information
- Japan is a member of the Organisation for Economic Cooperation and Development (OECD). As such, it supports the exchange of bank customer information with fellow OECD member governments;
- Japan is one of the few countries to adopt negative interest rates. The policy was adopted in early 2016 to booster Japan’s stagnating economic growth through the provision of cheap loans;
- Japan is a ranked 5th in the global financial centers index. Tokyo’s enhanced ratings as an international financial center over the years is largely due to its improved business environment and increased human capital accumulation;
- Japan is ranked 27th in the availability of financial services by the World Economic Forum. Banks in Japan offer an excellent range of corporate and personal banking products including i) multiple currencies ii) internet and telephone banking iii) international trade services and investment banking services and iv) debit and credit cards;
- The US dollar is accepted as a medium of transaction in Japan, which makes it easier for our foreign Clients to work in the country.
Healy Consultants Banking Services
- Healy Consultants will be pleased to assist our Client with opening a corporate bank account in Japan. Please contact our Firm at +65 6735 0120 or email us at firstname.lastname@example.org for more information;
- To find out more about the procedure, do check out the following global banking page.
Frequently asked questions
How to open a corporate bank account in Japan?The steps opening a bank account for a Japanese company include i) signing bank account opening forms ii) preparing a business plan and iii) attending an interview with a representative from the bank. Healy Consultants will guide our Clients through the entire Japanese corporate bank account opening process.
Will I have to travel to Japan to open a business bank account?Healy Consultants will try its best to negotiate for a travel exemption. However, banks might still request for a bank signatory to attend an in-person interview with a bank representative. Otherwise, Healy Consultants’ local officer will attend the bank interview on our Client’s behalf.
What is the minimum deposit required for a corporate bank account in Japan?The minimum deposit required depends on the bank our Clients choose to open the bank account. Because some banks change their minimum deposit requirements and bank fees often, we recommend our Clients to contact Healy Consultants for more guidance regarding this matter.
What is Healy Consultants’ fees to open a bank account for my Japanese company?Healy Consultants fees to open a Japanese bank account without travel is US$3,950.