Japan’s Immigration Services Agency announced plans to raise the capital requirement for the “Business Manager Visa” for foreign entrepreneurs from the current 500 million yen to 30 million yen. This change aims to curb the misuse of the visa system, particularly by some Chinese nationals. Starting mid-October, the new rules will also require entrepreneurs to have at least one full-time employee, three years of management experience, or a master’s degree related to management. Additionally, business plans must be verified by certified experts like small and medium enterprise consultants.
As of the end of last year, the number of Chinese visa holders more than doubled compared to 2015, totaling 21,740, making up more than half of all foreign holders. Many were found to establish shell companies or short-term rental businesses to immigrate, leading to the proposed changes.
by MagazineKey4532