JJapan Finance

JVCA’s (Japan Venture Capital Association) opinion on Business Manager Visa changes

  • September 27, 2025

This is similar to the opinion released by Keidanren. JVCA is definitely less powerful than Keidanren but large [VC funds and large firms are members of it](https://jvca.jp/members/vc-members). When JVCA says "exceptions should be made for Startup/J-Find," it means "the Japanese VC industry wants this."

Machine translation of the full opinion:

For Japan to truly develop as a nation of innovation, it is essential to build a startup ecosystem that attracts outstanding talent and capital from around the world, both domestic and foreign.
Therefore, in reviewing the landing permission criteria for the status of residence “Business Manager,” it is necessary to hold sufficient discussions from the perspective of ensuring proper system operation while actively attracting outstanding foreign entrepreneurs.

If the current capital requirements, established in December 2000, are no longer appropriate when compared to current price levels and international standards, we have no objection to a reasonable review.
However, from the perspective of developing Japan’s startup ecosystem, we request particularly careful consideration on the following points.

1. Securing International Competitiveness

In the “Five-Year Startup Development Plan,” Japan has set the goal of becoming Asia’s largest startup hub.
If this revision is perceived globally as “Japan has narrowed the door to foreign entrepreneurs,” it could put the country at a serious disadvantage in the competition for global talent with other Asian nations.

2. Impact on the Startup Ecosystem

According to a 2025 JETRO survey, the economic effect generated by startups in Japan has reached 22.33 trillion yen of GDP (about 3.7% of total GDP) and 520,000 jobs created directly and indirectly.
Much of this value creation originates from innovative business models at the early stage, which do not necessarily require large amounts of capital.
A significant increase in the capital requirement risks hindering the founding of diverse startups, which are the very source of innovation.

3. Consideration for Venture Capital Investment Practices

In the investment practices of our 300+ member firms, it is common for early-stage seed and Series A fundraising to be carried out in stages.
Excessive increases in the capital requirement would not align with these financing schemes and could obstruct the attraction of outstanding overseas entrepreneurial talent to Japan.

Proposals

  1. Maintain Exceptions for Startup Visa & J-Find
    • When obtaining the status of residence “Business Manager” through the Startup Visa (Foreign Entrepreneur Promotion Program) or J-Find (Future Creation Talent program), the current capital requirement level should be maintained.
  2. Consideration for Venture Capital Investment
    • If the entrepreneur has received investment from JVCA member firms or government-certified venture capital, this should be regarded as support from a qualified investor, and capital requirement relaxation measures should be considered.
  3. Comprehensive Improvement of the Startup Environment for Foreigners
    • Expand English-language support for company incorporation procedures.
    • Strengthen support systems for foreign entrepreneurs in accounting, legal, and tax matters.
    • In short, enhance entrepreneurial environment support beyond just capital requirements.

by AlfalfaAgitated472

6 comments

  1. Both Keidanren and JVCA are telling exactly what I’ve been saying since the changes were proposed.

    Those on start-up visas, those who get venture capital investment already get the capital and other requirements waived in other Asian nations – Singapore, South Korea, etc. Next week even China is launching their own J-Find visa equivalent, but one that will let you run a business there, unlike Japan’s.

    Japan’s start-up and J-Find visas are transitional visas that will be worthless in 2 weeks when business manager visa requirements change. They’ll essentially function as extended holiday visas – since you’ll be allowed to come and live in Japan for 2 years, and open a company, but not actually actually run your company, as you need to switch to Business manager visa to manage the company, which pretty much no Startup/J-Find holder will qualify to transition.

    J-Find is for new graduates, who by definition cannot meet 3 year management-experience requirements. Startups are also generally not run by experienced business managers but young entrepreneurs.

    Not to mention that the capital requirement will be highest worldwide for any business management visa. The cost is on par with Angel Investor or Golden Visas of European countries, where you can pay/invest to get a long-term residency.

    Japan is already a worse startup environment than other Asian nations who offer English-support for most procedures, simpler and faster incorporation procedures (takes literally 1-2 days in Singapore), much lower corporate tax and so on.

    I chose Japan personally and came here on J-Find visa bringing my tech business from Europe with me, because of my love for Japan. It wasn’t a rational business decision — so much more bureaucracy, archaic processes, extremely high corporate tax. I chose to come here and pay 34% corporate tax instead of 10% I would’ve paid in South Korea and less in Singapore, because I love Japan.

    But now I’m on a worthless visa where I’m not allowed to run the company I registered in Japan or do any work for my company because the business manager visa requirements are unrealistic for someone my age. It’s extended holiday essentially, that does neither me and my career nor Japan any good.

  2. Some of the damage is already done! A lot of entrepreneurs are already scared due to current decisions, they can try to revert it back and can get some momentum. But they should forget about becoming the largest start-up hub in Asia… Never gonna happen anymore… Even before it was kinda hard…

  3. They should also mention that the Visa difficulties stack on the existing difficulties of setting up a business, bank account, language, anti-outsider culture

    Japan loses if it merely tries to match what other countries do Visa-wise

  4. I have connections with angel investors in the US who are open to eventually investing in Japan, specifically in my startup here, simply for the fact that I’m here and I’m running it and it’s starting to bring in revenue.

    If I get expelled from Japan due to these new changes, Japan loses out. These American investors wouldn’t bring their money to Japan otherwise, meaning people in Japan lose out on new jobs.

  5. Once again, Japan shooting itself in the foot. I’m happy i have a PR and don’t need to depend on that, but this is yet another horribly braindead decision for Japan’s economy

  6. As with the Keidanren statement it’s both clueless and toothless and will achieve nothing. At most there will be some ‘mitigations’ that will have little to no practical effect.

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