How to open a corporate bank account to start a business in Japan
This blog is for entrepreneurs who currently have working permission in Japan and who are planning to start a business in Japan.
Let’s get it straight. Company registration, opening a bank account (Japanese personal account + corporate account) , the timing to transfer your money into corporate account, the criteria to apply for Business Manager Visa…
This is what I heard from a banker specialized in corporate bank account.
Flow of opening a corporate account
- Open your personal bank account in Japan
Let’s get started with opening your personal account. Bank usually asks the “period of stay” and what kind of “visa” you currently have.
If you are supposed to live in Japan for over 6 months with working-visa, it’s relatively easy. Tokyo Star Bank provides information in English and Chinese, so for the further information, please call this number : 0120–16–3838 (Weekdays 9:00–17:00)
2. Transfer 5 million yen into your personal bank account
Transfer 5 million yen from your account in overseas to the Japanese personal account.
3. Receive the deposit evidence of 5 million yen from the bank
The bank will provide the statement (計算書) to proof the deposit as well as balance certificate (残高証明書) to show how much deposit you have in the account.
4. Submit balance certificate to Notary Office for company registration
Let’s get prepare for company registration form. Angels, Inc. Legal Tech Services will help you the company registration process. Please make use of this one during the company registration period :)
5. After receiving company registration form (登記簿),
let’s start opening your corporate account!
Unless you have the company registration document, bankers cannot start the explanation for the corporate account. You have to BRING :
- 登記簿 Company registration form
- 会社の印鑑 Hanko(stamp) for the company
- 代表者本人確認書類 Personal identification (such as passport)
for opening a corporate account.
6. GET PREPARED FOR A BUNCH OF QUESTIONS FROM BANK!
Everybody around financial institutions are getting nervous with money laundering risks, and they need to ask questions to get rid of the risks.
For example,
- the reason to open the corporate bank account
- what kind of business you’ll be operating
- who’s your main client
- what’s the main source of the business income (plan is ok)
- who’s the owner of the company
7. FINALLY! Start with Business Manager Visa application
Too many red tapes, and during the visa application process, please don’t forget the Japanese translation for each document you submit.
CoE can be filled in English, but besides it, Immigration Officers usually ask you to provide all the translation for each documents.
Hope this information somehow helps your business!
