Japan is taking proactive steps to simplify regulations for foreign individuals seeking startup visas, to foster its startup ecosystem. The Ministry of Economy, Trade and Industry plans to revise existing rules, allowing private companies to participate in the visa screening process. This move is expected to streamline the visa issuance procedure, making it more accessible for global talent and driving innovation in key industries.
According to the report, the Ministry of Economy recently introduced guidelines outlining support measures to strengthen startups in Japan. The initiative includes expanding visa opportunities and proposing tax system revisions concerning stock options to attract and retain highly skilled professionals.
Previously, local government bodies exclusively handled the issuance of startup visas, with designated municipalities like the Shibuya ward in Tokyo and Fukuoka acting as intermediaries. However, the upcoming revisions will expand the involvement of private companies in the screening process, creating a more efficient and supportive environment for foreign entrepreneurs entering Japan’s startup market.
Under the proposed changes, venture capital firms and government-recognized startup accelerators will play a key role in assessing applicants’ business plans and issuing preliminary documents. This collaborative approach between public and private entities aims to expedite the visa issuance process, facilitating the entry and establishment of foreign entrepreneurs in Japan’s thriving startup landscape.
Furthermore, the Japanese government has introduced measures to attract highly skilled professionals and young talent to the country. The revised regulations will grant highly skilled professional visas to individuals engaged in advanced academic research, advanced specialized/technical activities, and advanced business and management activities. Eligibility for these visas will be based on criteria such as educational qualifications, work experience, and minimum annual income requirements.
By simplifying the visa process and expanding opportunities for foreign talent, Japan seeks to support its startup sector, promote economic growth, and cultivate a vibrant entrepreneurial environment. These efforts demonstrate Japan’s commitment to attracting global talent and positioning itself as a hub for innovation and cross-cultural exchange.