Friday, September 7, 2018

Resident representative is not necessary for Japanese corporations

A resident representative is no longer necessary for Japanese corporations (Note: A resident representative is still necessary for a branch registration in Japan.).

I keep receiving emails regarding this residency requirement and replies that you no longer need a resident representative (except branch registrations). However, one thing you should note is that you will have difficulty in opening a corporate bank account. Most of the Japanese banks request a resident representative as one of the must requirements to open an account.

Once you open a corporate bank account, you may be able to remove the resident representative, but it depends on each bank. First, you should contact your bank regarding this residency requirement before removing the resident representaive. Removing the resident representative without consulting your bank may result in the freeze of the account in the worst case.

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