Foreign presidents have a hard time !? About "funds" that are also the point of visa application

1. The first hurdle: Obtaining the funds needed to get a visa

▼ For a business manager visa, the initial requirement is 500 million yen

If a foreigner wants to start a business in Japan and become the president, they will need to obtain a business manager visa. In that case, they will need to explain the scale of the business.500 yen or moreis often prepared as capital.
In addition, it is not enough to simply prepare a capital of 500 million yen or more; you are also required to explain the process of how you obtained the money and how it was deposited in a Japanese account, along with supporting documents.
If you have saved money from the money you have earned working in your home country or in Japan, it will often be relatively easy to prepare the 500 million yen and explain how it was accumulated.
So, is it acceptable for capital of more than 500 million yen to be accepted even if the money is borrowed from someone?

▼ Can the 500 million yen requirement for obtaining a business manager visa be met by taking out a loan?

The capital required for applying for a business manager visa as a foreign president, which is 500 million yen or more, is recognized even if it is money borrowed from someone, in other words, money obtained through a loan.
However, in this case,Borrowed fundsSo it is assumed that you can repay it.
If you are going to borrow money from a friend or relative, it is a good idea to prepare a repayment plan separately.

▼ How can I get a loan after obtaining a business manager visa?

Although some private financial institutions such as banks claim that they can provide loans to those with a business manager visa, in reality, they often reject applicants during the loan screening process.
Since banks and other private financial institutions only provide loans as a business, it is extremely difficult for a newly established and unreliable company to obtain a loan from a bank.

Therefore, the most realistic place to consult for financing isJapan Finance Corporation will be important.
The Japan Finance Corporation is a government-affiliated financial institution fully funded by the government, and actively provides loans to small businesses that have difficulty raising funds from private banks, as well as to those who are about to start their own businesses.
However, there are two things that foreigners should keep in mind when applying for a loan from the Japan Finance Corporation.

[Points to note for foreigners applying for loans from the Japan Finance Corporation]

① The status of residence is such that you can run a business.

There is no problem with this if you already have a "business manager" visa.
Other statuses of residence include permanent resident, special permanent resident, spouse or child of a Japanese national, spouse or child of a permanent resident, long-term resident, highly skilled professional No. 1 (Ha), and highly skilled professional No. 2.

② Repay the loan within the period of your residence status (within the period of stay)

In many cases, those who have just acquired a business manager visa will only have a one-year period of stay, so in this case it will be difficult to obtain long-term financing.
However, if the nature of your business indicates that it will continue beyond the period of your residence, the repayment period may be set to extend beyond your period of residence.
In this regard, if you have permanent resident status with no expiration date, it is easier to obtain long-term loans.

▼ Is Japanese language ability necessary to receive a loan?

Since there will be an interview with a representative from the Japan Finance Corporation, it would be advantageous for you to be able to speak Japanese.
However, if the business is not aimed at Japanese people, Japanese language ability may not be emphasized.

Summary

In order for a foreigner to obtain a business manager visa to become a company president in Japan, they must first prepare capital of more than 500 million yen, which is likely to come from their own savings or loans from relatives and acquaintances. It is also important to be able to properly explain the process of how the capital was formed. After obtaining a business manager visa, they can also consider receiving a loan from the Japan Finance Corporation.

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