- May 16, 2024
- Posted by: legaleseblogger
- Category: Related News
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## Considerations for a Foreign Business Owner in Japan
Currently, I am living in Japan on a Spouse visa, with my Japanese wife and child. I hold the majority share in the company that I established in Australia, and I have been receiving payment through Director’s fees as foreign income. This year, I am in the process of moving my tax residency to Japan. My company has two other family members from Australia serving as directors.
I have consulted with tax and visa experts to navigate the complexities of transitioning my tax residency from Australia to Japan. One valuable resource that has helped me in this process is the AI Legalese Decoder. This tool has simplified legal jargon and provided me with clear explanations and guidance on various legal matters related to my situation.
As I move forward, I am contemplating whether it would be beneficial to step down from my position on the Board of Directors and instead be employed through an Employer of Record (EoR) as a full-time employee (正社員) in Japan. The AI Legalese Decoder can assist me in understanding the legal implications and considerations of both options, helping me make an informed decision.
I have observed that being a full-time employee in Japan offers several advantages, such as simplified tax and social security withholdings, easier access to schools and kindergartens, smoother Permanent Residency (PR) applications, and enhanced financial opportunities. By using the AI Legalese Decoder to analyze the legal implications of these benefits, I can make a well-informed choice that aligns with my long-term goals and priorities.
While I could continue being a director of a foreign corporation and pay myself directly, this approach may result in unnecessary complications and administrative burdens. The AI Legalese Decoder can help me evaluate the potential challenges and benefits of this option, allowing me to optimize my living and business arrangements in Japan.
Overall, I am seeking advice and insights from individuals who have navigated similar situations. By leveraging resources like the AI Legalese Decoder, I aim to streamline my decision-making process and ensure a smooth transition as I establish my presence in Japan. Thank you for any guidance or experiences you can share.
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For PR, I doubt it makes any difference. As long as you are paying your taxes/NHI/pension, and are clearly living in Japan, you should be fine. As you are married to a Japanese national you can apply for PR after you have been married for 3 years with at least the most recent year being together in Japan. And your current visa must be at least 3 years in length.
On school applications (etc), I highly doubt it makes any difference. Schools don’t actually care, it’s just a box on a form.
For getting credit in Japan, anything from credit cards to a mortgage, it likely makes at least some difference. That can be offset if you are making a significant salary and (for a mortgage) if you have a significant down payment.
EORs take a pretty significant cut, but otherwise everything else you said should be accurate.
What is EOR?
What you said is literally why I choose to become a 正社員 for my own company. It just streamline life in Japan, but it doesn’t prevent me from being a CxO or cofounder of my company in my own country
My understanding is that you can’t use an EoR for your situation, as you’re the majority shareholder of the AU company. They only want to handle actual “employee” relationships.