22 March 2024 – Japan will provide angel investors with up to five years of residency under an innovative program. This program intends to fund the country’s startup scene. In April of the following fiscal year, the new resident status will cover 13 national critical areas for economic growth and innovation. VisaGuide.World indicates that residence eligibility will require investment proposals, prior performance, and financial holdings.
Local authorities in specially specified locations will certify and supervise angel investors to prevent financial crimes like money laundering. Residents would also be asked to mentor companies and provide business counsel. Residency holders will mentor and guide startups to develop Japan’s startup ecosystem. The residency scheme should attract serious investors who support Japan’s economic progress.
Japan hopes to learn from residency systems around the world, such as the US program that allows immigrant investors to get permanent status by investing $800,000. As the UK showed, creating a bespoke residency policy for investors still raises problems.
Conclusion
The British government ceased issuing extensions of stay in February 2022 due to concerns about unlawful funding and corruption. The Immigration Services Agency said that 35,000 foreign people had business management residency in Japan as of June 2023, up from 2015.
