NATIONAL NEWS
Japan is planning to let entrepreneurs from overseas come and live for up to two years as they start their businesses.
Existing business management residency requirements stipulate that the business owner must have two or more full-time employees or an investment of JPY5 million (US$35,400).
This effectively eliminates many small companies from being able to launch, reducing dynamism in the country’s economy.
Budding foreign entrepreneurs, knowing that they may be able to stay before turning a profit, now can more freely consider starting a business while enrolled in a Japanese University.
The business management residency changes may come as soon as April 2024, the start of the fiscal year.