- April 27, 2024
- Posted by: legaleseblogger
- Category: Related News
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### Planning to Live and Retire in Japan
As a 42-year-old German citizen, I am making plans to move to Japan in approximately five years with the assistance of my company’s transfer program. My goal is to establish my life in Japan, eventually retiring there, and marrying my Japanese girlfriend. However, as most of my investments are in stocks, I am eager to explore the options available in Japan for stockbrokers.
### Seeking Guidance on Tax Withholding
In Germany, the process of tax withholding after the sale of stocks is straightforward, ensuring minimal surprises during tax return season. With a tax rate of around 26% on profits from sales or dividends, I am inclined to find a stockbroker in Japan that adopts a similar tax withholding system.
### Utilizing AI Legalese Decoder for Broker Selection
In this scenario, the AI Legalese Decoder can be a valuable tool in researching and identifying stockbrokers in Japan that align with the tax withholding practices you are familiar with in Germany. By utilizing this tool, you can streamline the process of finding a broker that caters to your specific requirements, including automatic tax withholding and compatibility with both Japanese and German tax systems.
### Seamless Transition to Japanese Residency
With the assistance of the AI Legalese Decoder, you can confidently navigate the transition of your tax residency status from Germany to Japan. By selecting a stockbroker that aligns with your tax preferences and can facilitate the transfer of funds to a Japanese bank account, you can seamlessly transition your financial affairs to your new life in Japan.
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You could open an Interactive Brokers (IB) account in Germany and once resident in Japan have them transition your account to IB Japan (IBSJ). Japanese taxes will be withheld from your dividends but not your capital gains. Non-Japanese withholding from your dividends may also occur. For example, US domiciled securities will also have 10% withheld for Uncle Sam.
It’s probably not going to be possible to open a JP broker while not a resident of Japan. Japan is pretty strict on it. Maybe there is one, but I have doubts. You can probably open an interactive brokers account where you are and try to transfer the assets into the IBJS account after you move and open one in Japan. You would probably need to contact interactive brokers by phone no matter what to do this.
IBJS will do tax withholding as with almost every Japanese broker. Just remember that nearly all the brokers will be in Japanese. Maybe IBJS has an English interface but I don’t use it.
Nur als Hinweis sofern Du das noch nicht auf dem Radar hast bzgl. leben und Ruhestand in Japan. Je nach persönlicher finanzieller (Vermögen) und familiärer Situation/Planung kann die japanische Erbschaft/Schenkungsteuer oder Wegzugsteuer (auch auf Aktiendepots bestimmter Größe) für ein paar böse Überraschungen sorgen. Deutschland ist da echt ‚billig‘ dagegen.
As foreigner, when you move to Japan, your 1st 5 years of income/profit outside Japan are not be taxed. So, keep your money outside JP (in Germany), register in Japan, de-register in Germany and tell your bank that you don’t need to pay tax on profit (Freistellungsantrag)
simple, open NISA and ideco accounts in Japan. And you can invest without any tax at all. they both have limits how much can contribute each year. But start with them. You will be satisfied
No brainer, IB JP