Fukuoka City-the new startup hub in Japan

Fukuoka City-the new startup hub in Japan

Posted by P. Charitha on March 30th 2017

The ancient city of  Fukuoka ( slightly awkward to pronounce),  which is one of the  fastest-growing cities in Japan outside of the capital of Tokyo, is slowly emerging as a start-up destination of Japan. This ancient port, nestled in its scenic mountains is in the vicinity of Shanghai and Tokyo and now with new incentives introduced, is attracting entrepreneurs locally from Japan and abroad.
Foreign entrepreneurs intending to start a business in Fukuoka City can now  set shop in this  seaside town which  is leveraging its status as a national strategic special zone, reducing red tape and introducing incentives like Japan’s first “Startup Visa,” which gives entrepreneurs a six-month exemption from the investment and hiring requirements of a business visa. This Japanese city has been approved to implement the “Startup Visa (Entrepreneurial Incentives for Foreigners)” to incentivize foreigners to be business entrepreneurs in Fukuoka. Prerequisites for the “Business Manager” visa, which is required for foreigners intending to start a business in Japan, will be eased for foreigners who found his/her business in Fukuoka (National Strategic Special Zone). 
 
Foreign entrepreneurs are required to open a business office and hire two or more permanent employees or have capital/investments exceeding five million yen upon submitting his/her application to the Immigration Bureau in order to receive approval for the “Business Manager” residential status.
 
The “Startup Visa” system permits foreign entrepreneurs to receive a six-month “Business Manager” visa without fulfilling aforementioned prerequisites. The entrepreneur must, however, submit a New Business Implementation Plan (“NBIP”) to Fukuoka City. After evaluating the NBIP, should Fukuoka City confirm that the entrepreneur is expected to fulfill the visa requirements, the Immigration Bureau will evaluate the candidate based on Fukuoka City’s confirmation. If approved, foreign entrepreneurs are provided with six-months to fulfill the standard prerequisites and complete procedures while developing his/her business.
 
Fukuoka City provides individual support through the Start-up Café to aide foreign entrepreneurs in meeting the standard prerequisites so that he/she may be able to renew his/her Business Manager visa. In order to utilize this special measure and receive confirmation for the Business Manager residential status, applicants must submit a New Business Implementation Plan (“NBIP”) and await confirmation from Fukuoka City.
 
The confirmation of the NBIP evaluates whether the business plan detailed in the NBIP is viable and that the applicant is very likely to fulfill the prerequisites for the Business Manager residential status within six-months.
 
 After confirming the applicant’s NBIP, Fukuoka City will issue a Confirmation Letter of NBIP (“CLNBIP”). Once the CLNBIP is issued, the applicant should proceed to apply for the Business Manager residential status at the Fukuoka Immigration Bureau.
For more information about how to obtain a start-up visa here click here-> http://www.city.fukuoka.lg.jp/keizai/r-support/business/startupviza_english.html

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