#ImmigrationNews: Japan Plans To Tighten Visa Application Requirements For Foreign Entrepreneurs

 #ImmigrationNews: Japan Plans to Tighten Visa Application Requirements for Foreign Entrepreneurs

A Japanese government document shows that authorities plan to implement stricter visa application requirements for foreign entrepreneurs, raising the minimum capital requirement fivefold to 30 million yen (about $192,400) and requiring applicants to employ at least one full-time employee in Japan.

The stricter regulations come after the ruling coalition lost its majority in July's upper house election, when an anti-immigration party gained support.

Reuters cited a draft document released by Japan's Ministry of Justice on Tuesday (August 26), saying the government will seek public comment until September 24 before implementing the reforms in October.

The new "Business Manager Visa" allows foreigners to establish and manage businesses in Japan, offering long-term residency for up to five years, renewable, and naturalization for family members.

Previously, the visa required applicants to either invest 5 million yen, employ two full-time employees, and develop a viable business plan.

Originally designed to attract entrepreneurs and boost Japan's international competitiveness, the visa allows holders to apply for permanent residency after ten years, provided they have at least five years of work-eligible visas.

Immigration data shows that by the end of 2024, approximately 41,600 people held this type of visa, an 11% increase from the previous year. Chinese citizens accounted for more than half of these individuals.