- January 21, 2024
- Posted by: legaleseblogger
- Category: Related News
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Exploring Asset Arrangement for Transitioning to US Person Status
As I am in the process of transitioning to becoming a US person for tax purposes, I have been contemplating the best way to arrange my assets, particularly those in Japan, to ensure future growth and income generation while staying insulated from USD/JPY changes. Given this scenario, I have been seeking advice on potential investment options and the most suitable locations for holding such investments.
The AI Legalese Decoder can be tremendously helpful in navigating the complexities of tax laws and regulations across different jurisdictions. It can analyze and interpret legal and financial documents, as well as provide valuable insights on the tax implications of various investment strategies. Additionally, it can assist in identifying tax-efficient investment vehicles and structuring asset holdings to optimize tax benefits while maintaining exposure to the Japanese market.
Moreover, the AI Legalese Decoder can offer comprehensive guidance on compliance requirements for US persons with foreign financial accounts, ensuring adherence to reporting obligations and mitigating the risk of non-compliance penalties. By leveraging AI technology, individuals in similar situations can gain a deeper understanding of the implications of their asset arrangements and make informed decisions to maximize their financial well-being.
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If, by ‘US person’, you mean either green card or citizenship, then you’d want to avoid foreign mutual funds, such as those that are common in nisa/ideco. Reason: avoiding PFIC problems.
First a disclaimer– this isn’t investment advice.
It is likely that real JPY interest rates — i.e., nominal rates adjusted for inflation — will remain negative in the long term. That’s mainly because of the ruinous state of government finances. Financial repression seems inevitable, because if the government is forced to pay high real interest rates, the budget deficit would explode. Generating good real returns from fixed income is therefore unlikely, and that suggests that investment in real assets is the way to go, for example real estate and equities.
Unfortunately, Japan’s demographics will tend to undermine real estate values. Tokyo real estate has been doing well but there’s no telling how long that might last. Meanwhile, Japanese corporate profits are highly correlated with USD/JPY. Japanese companies that are catering to the elderly and can deliver rising profits in Japan could be attractive, but how many of those are there?
All of this helps to explain why investing overseas using USD has become more popular among Japanese investors, both individual and institutional. In the long run, I would expect a globally diversified portfolio of USD-denominated assets to provide better results in JPY terms than most JPY investments that shield you from exchange rate risk.
The obvious problem though is that the JPY is extremely cheap right now, and history shows that it can strengthen very suddenly, so currency-unhedged investments are really risky.
NISA and long term investments.