10 steps to incorporating in Japan
The typical procedures Healy Consultants follows during a Japan engagement are described below:
- Due diligence: Before Healy Consultants proceeds with the engagement, our Client i) emails us scans of at least 75% of the due diligence documents requested by our compliance department ii) settles our fees and iii) signs our engagement letter. Thereafter, Healy Consultant provides our Client with a detailed project plan, outlining all steps needed before he can start business in the country;
- Engagement planning: To start the project, our team will then agree with our Client on the company name and the optimum corporate structure, including shareholders and directors. We also prepare a business plan describing our Client’s planned business in Japan for his review and approval.
- Submission of registration application: When the final corporate structure is agreed with our Client, Healy Consultants i) reserves the company name with the Department of Economic Development (METI) and ii) prepares company deeds of establishment and articles of association. After being signed by our Client, these documents are authenticated by a Notary Public;
- Lease agreement signature: Meanwhile, our Client provides us with a lease agreement for their office premises. If our Client is unable to do so, Healy Consultants can alternatively supply Japan virtual office services until our Client finds their preferred business address;
- Japan company incorporation: When the above is completed, we submit a company formation application to the Japanese company registrar. The same is usually approved within a few days and we immediately provide our Client with a scanned copy of the certificate of incorporation upon receipt.
- First meeting of the shareholders: Healy Consultants assists our Client to prepare all post- incorporation documents, including notably the minutes of the first meeting of directors and the Share Certificates;
- Tax registration: our Firm will register the company for tax at the nearest District Tax Office and obtain a tax identification number and business registration certificate;
- Corporate bank account: When the above is completed, we assist our Client to open a corporate bank account in Japan without travel. We also assist him to activate online banking facilities;
- Business startup services: If needed, our team assists our Client to obtain corporate finance, trade finance and to open merchant accounts. If required, Healy Consultants assists our Client to locate business premises and recruit local staff;
- Engagement completion: Following incorporation in Japan, Healy Consultants provides our Client with a complete company kit including i) original Certificate of Incorporation ii) a bound copy of the government approved Articles of Association iii) original share certificates iv) an original government receipt as evidence of payment of annual company and license fees.
Documents required to form a company in Japan as a foreigner
- The documents required for foreigners willing to form a company in Japan are similar to those requested for locals. They mostly include:
- For corporations: i) legalized copies of the certificate of incorporation, M&AA, latest annual return and financial statements ii) a resolution by the directors (or shareholders according to powers given by the M&AA to directors) approving the formation of a subsidiary in Japan and appointing directors. These documents must also be translated in Japanese by a foreign translator;
- For individuals: i) legalized copies of their passport and a recent proof of address ii) bank statements or another document showing the availability of funds to pay up for the shares (only for larger amounts of paid-up capital). These documents must also be translated in Japanese;
- Refer to this page for further details on the documentation required for Japan business incorporation.
Frequently asked questions
How long does it take to incorporate a company in Japan?It takes on average 14 weeks to incorporate a Japanese company including i) engagement planning ii) incorporation iii) corporate bank account approval iv) corporate internet banking approval and v) engagement completion.
What is the minimum share capital required for incorporating in Japan?To incorporate a company in Japan, the minimum share capital required is i) US$1 for an LLC and ii) US$600 for a joint stock company.
What Japan incorporation services can Healy Consultants offer my firm?As Japan incorporation service providers, Healy Consultants will assist our Clients with i) incorporation ii) business license registration iii) immigration solutions iv) employment strategies v) business banking solutions vi) office rental/ virtual office setup and vii) tax planning. Our experts are Japan company incorporation specialists and will send our Clients weekly updates till engagement completion.
What are the requirements for incorporation in Japan?Healy Consultants will guide our Clients throughout the incorporation process in Japan. After advising our Clients which entity would suit them best, we will complete the incorporation, bank account opening and tax registration on our Client’s behalf.