<story><title>Japan eyes startup visa program</title><url>https://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-eyes-startup-visa-program-to-lure-foreign-businesses</url></story><parent_chain><item><author>nihonde</author><text>Try opening a business bank account in Japan. Or any bank account for that matter. Be prepared to start every handwritten form over if you make even the slightest error, and I hope you’ve been practicing your kanji. No credit cards or foreign transfers until you’ve got a few years in your business. Capital requirements. It’s a whole different ballgame, for better or worse.</text></item><item><author>arvinder</author><text>&amp;gt;Based on the New Business Implementation Plan, Fukuoka City officials will conduct a review on the progress of startup businesses founded by entrepreneurs who utilized this system and received approval for his&amp;#x2F;her Business Manager residential status. There will be three review sessions during the six-month period, of which at least one session will be held either at the entrepreneur’s place of business or residence. During the review sessions, the business’s bank account, lease for the place of business, and employment contracts may be reviewed. If progress is not satisfactory, Fukuoka City may direct the entrepreneur to return to his&amp;#x2F;her home country.&lt;p&gt;Sounds like a lot of biannual headache.</text></item></parent_chain><comment><author>patio11</author><text>The largest bank in Japan was flabbergasted that I sweet talked them into getting a business bank account for Starfighter.&lt;p&gt;Some things I wouldn&amp;#x27;t agree with: Personal bank accounts aren&amp;#x27;t challenging given a medium term status of residence. Wire transfers should be trivial for anyone capable of running a business; you just have to ask and not sound like a drug lord while doing so. Credit cards are easily available, including to foreigners (surprisingly so from some issuers), though corporate cards are &lt;i&gt;much&lt;/i&gt; harder. Capital requirements functionally don&amp;#x27;t exist anymore; you can open a 合同会社 with 1 yen and you can convince large banks to open a business bank account with e.g. 10万 as an opening deposit.&lt;p&gt;(For anyone starting a company in Japan who wants to talk banking stuff I&amp;#x27;d be more than happy to; this is very relevant to my professional interests these days.)</text></comment>
<story><title>Japan eyes startup visa program</title><url>https://asia.nikkei.com/Politics-Economy/Policy-Politics/Japan-eyes-startup-visa-program-to-lure-foreign-businesses</url></story><parent_chain><item><author>nihonde</author><text>Try opening a business bank account in Japan. Or any bank account for that matter. Be prepared to start every handwritten form over if you make even the slightest error, and I hope you’ve been practicing your kanji. No credit cards or foreign transfers until you’ve got a few years in your business. Capital requirements. It’s a whole different ballgame, for better or worse.</text></item><item><author>arvinder</author><text>&amp;gt;Based on the New Business Implementation Plan, Fukuoka City officials will conduct a review on the progress of startup businesses founded by entrepreneurs who utilized this system and received approval for his&amp;#x2F;her Business Manager residential status. There will be three review sessions during the six-month period, of which at least one session will be held either at the entrepreneur’s place of business or residence. During the review sessions, the business’s bank account, lease for the place of business, and employment contracts may be reviewed. If progress is not satisfactory, Fukuoka City may direct the entrepreneur to return to his&amp;#x2F;her home country.&lt;p&gt;Sounds like a lot of biannual headache.</text></item></parent_chain><comment><author>contingencies</author><text>It&amp;#x27;s not as bad as Hong Kong. I had to visit seventeen (17) banks and spend over USD$10,000 to get a bank account for our company over the last 1.5 years. I did everything from opening accounts in the same banking groups overseas to renting needless physical offices. None of it helped. Finally I got accepted by a startup bank with a special KYC process approved by the HKMA. Hong Kong accountants and other professional services firms privately report that their business is down immensely. It&amp;#x27;s the US&amp;#x27; fault and they&amp;#x27;ve announced in &lt;i&gt;The Banker&lt;/i&gt; a month or two ago that they&amp;#x27;re preparing to roll back pressure, but the damage has been done.</text></comment>