Q46: When establishing a company in Japan, I heard that a "Business Manager" visa requires a capital of more than 5 million yen. I currently have a deposit of more than 5 million yen in the bank; can I submit a copy of this bankbook without any problem?
ringo tax corporation
Japanese Certified Public Accountant ・Tax Accountant Hiroya Aihara
Ringo Tax Corporation
A: You actually need to transfer the 5 million yen and then provide proof of that transfer.
Explanation
When establishing a corporation, the promoter must pay the full amount they are to contribute at the time of establishment (Companies Act Article 34①).
You might think that proving the existence of 5 million yen in a bank account would suffice for establishing a company with that amount of capital. However, in reality, it must be documented in the passbook that the transfer was made after the number and value of the shares were determined.
Having a balance of more than 5 million yen in a bank account is important, but there must be evidence that this balance is intended for use as capital, and that it has indeed been paid in.
Therefore, even if you have a deposit balance of 5 million yen, after the number and value of shares are confirmed, you need to go to the bank to withdraw the 5 million yen and then transfer it as capital. Transferring it to another financial institution's account is also acceptable.
