The requirements for foreign nationals seeking business manager visas will become stricter starting next Thursday, including requiring visa applicants to have ?30 million ($197,000) in capital, up from the current ?5 million, the Immigration Services Agency (ISA) said Friday.
There has been a rapid rise in the number of business manager visa holders in recent years, triggering concerns that some are using it as an easy route to long-term residency rather than for genuine entrepreneurship.
Currently, applicants can qualify for the visa status by establishing a business in Japan and either investing at least ?5 million in capital into it or hiring two full-time employees who live in the country. The visa is renewable and allows stays of up to five years each time.
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