As the title states, my wife and I will soon start the process to move from the US to Japan.
We are going to start the COE process with an attorney in Tokyo towards the end of the month.
A little background… we've been married for almost 10 years, she's a Japanese citizen, and a US green card holder…I'm a US citizen, and my Japanese skills are less than lacking, but I'm learning slowly. I can pick up on things when listening to conversations and as far as speaking goes, beyond asking for things, and basic sentences, conversational Japanese is not quite there. I already know the challenges ahead of me with this, but I feel like immersion is going to help me…I have considered Japanese school, but not sure yet.
I'm hoping that my current employer will let me keep my job, whole living in Japan, but that is still a big part of the equation…it would definitely help. I'll also ditch my health coverage and get into the Japan coverages.
My questions are regarding taxes…are there people who specialize in both Japan and US taxes?
Can I still pay into the Japan National pension, and pay into US social security?
What else do I need to know? I think I have everything covered as far as needing to register an address for a bank account, and phone, and needing all that before getting an apartment…but I want to make sure I'm not neglecting anything else…
by tattoojew
3 comments
You should know that there are no joint accounts in Japan, and that there can be gift tax when transferring money from one partner to another, and that inheritance tax is quite high in Japan.
Depending on your current assets and dependents you might want to sort this out and settle things before you move to Japan and become subject to their tax rules. This might not be an issue if you have few assets and don’t expect substantial inheritance in the future, but if you do then talking to a tax person will be an essential first step in planning. Once you move it will be too late.
Yes, you there are accountants that can file for you both in Japan and the U.S. My Japanese accountant was much more expensive than my former U.S..
If you are living in Japan, you are expected to pay into the pension plan.
r/JapanFinance
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