Japan’s new visa rules force foreign entrepreneurs out: Here’s everything to know
Thousands of foreign entrepreneurs in Japan face expulsion as new visa rules take effect.
The move is a severe blow to small business owners who have called Japan home for years.
The new visa guidelines have raised the required minimum investment amount significantly from 5 million yen ($30,000) to 30 million yen ($185,000).
Furthermore, the visa holders need to employ one Japanese national or a permanent resident, which is difficult due to a lack of manpower in Japan.
This is a result of the growing fear among the citizens of overtourism and sky-high land prices due to investments from abroad.
The prime minister of Japan, Sanae Takaichi, has also increased tourist visa fees by five times and the departure tax by three times for everyone.
Over 67,800 signatures have been collected through an online petition asking for the suspension of the recently introduced laws. The opposition says that the law penalises genuine businesses instead of scamming firms.
Daisuke Komori, an administrative affairs advisor, warned: “The tightening regulations are impacting small restaurant owners and young entrepreneurs” even as Japan’s super-ageing population desperately needs immigrant labour to sustain its economy.
