The Best Tax Free Country Nobody Knows About - Japan?! Say What?
Vložit
- čas přidán 5. 04. 2023
- Nobody Knows This Amazing Country Is a Tax Haven
Japan is a land of rich culture, breathtaking landscapes, and vibrant cities. And for foreign residents, it's also a land of incredible tax benefits! In this video, we'll explore how you can live tax-free in Japan as a foreigner, and what it takes to make the most of this unique opportunity.
Expats and digital nomads, as well as all kinds of travellers consider Japan to be one of the most unique countries in the world. You can live in world class cities such as Tokyo or Osaka, or you can take the advantage of the beautiful nature and more peaceful areas of this country.
Are you tired of paying high taxes in your home country? Looking for a way to live a comfortable life while keeping more of your hard-earned money? At the same time, you consider Japan to be an appealing place to live? You would like to get a residency in Japan, without the tax burden of the first world countries? It is possible, and we will tell you how!
In this eye-opening video, we'll reveal the secrets to legally avoiding taxes in Japan as an expat. You'll learn about the special tax exemptions and deductions available to foreign residents, as well as the residency requirements and other legal considerations you'll need to keep in mind.
------------------------------------------------------------------------------------------------------------------------------
Introducing Michael Rosmer, the true modern-day Renaissance man and international entrepreneur, who has been mentored under top international tax attorneys.
He is widely regarded as the foremost international tax expert for legal cross-border tax planning, with extensive experience in immigration, residency, and second citizenship for those seeking a plan B, asset protection, global offshore banking, and payment processing.
Michael leads a team of lawyers and accountants who are top experts in their respective fields. This multi-lingual, multi-national team has worked with digital nomads, entrepreneurs, and investors from 62 countries, providing practical real-world multi-dimensional solutions for their clients.
At Offshore Citizen we understand that each individual's situation is unique. Unlike most industry service providers, we do not push any particular country or solution. Instead, we analyze your individual situation and custom-tailor the best countries and strategies for you, drawing on every part of the globe.
With Offshore Citizen, you can rest assured that you are in the hands of professionals who have your best interests at heart. Let us guide you through the complex world of international tax planning, immigration, residency, and second citizenship.
Contact Michael today for a personalized consultation and take the first step towards securing your financial future.
..........................................................................................................................................
Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
Get personalized advice about tax, asset protection, offshore banking, residency, and citizenships.
☎️ Book a call with Michael:
calendly.com/michael-rosmer?m...
🌎 Visit our website:
offshorecitizen.net
This is dangerous advice. If you stay too long (over 10 years) or get into a spouse visa or permanent resident, you will then be slammed with a high inheritance tax (up to 55%) on any inheritance worldwide. Like even if you're a US citizen and your US citizen parents leave you an inheritance then you are hit with the massive tax.
As someone whose been through the immigration process in Japan multiple times and evaluated each visa they offer I can tell you that the chances of getting a visa to live in Japan that wouldn't require Japan sourced income is quite difficult. I'd say most people who are trying to get a student visa don't care about this because they likely aren't looking for a tax haven they're looking for the right school or cultural experience. If you get a job in Japan and let's say you have the kinds of investments mentioned in this video you're going to be on the hook for taxes in the country of juristiction (e.g. your home country or the country the investments are governed by) even if Japan doesn't charge you tax on them.
Now if you've already got those investments setup in an actual tax haven then the absolute best case is that Japan won't place a tax claim on them for 5 years. I'd say for most people concerned with finding a tax haven they make a substational amount of money. The question then becomes what kind of visa are they going to be interested in that would allow them to live in Japan for 5 years? There are only 2 real options and one has a considerable upfront cost and both create new legal/tax challenges. Either the Intra-Company transfer visa or the Business Manager Visa could be used. The Busines Manager Visa will require you to start a corporation in Japan and invest a minimum of 5M yen. The buisness needs to have the prospect of being profitable in Japan within 3 years and you have to demonstrate why your busines needs to be started in Japan in your visa application. This isn't a requirement to incorporate a company in Japan but it is to show why you need to be there to manage it instead of just opening it in your own country or a neighboring coutnry.
The Intra-Company transfer visa could be used by someone who say works for Google and wants to transfer to Japan but most often entrepreneurs are looking to set up a branch office or company and transfer themselves to it (easier said than done as most people really are ineligible to do this if they are the owner or executive officer of their company). In both cases, assuming it's not a standard transfer like in the case of Google, you have to create corporations, open foreign bank accounts in Japan, fill taxes in Japan, and have a legitimate money making enterprise that will be taxed in Japan. Additionally, you are likely to get just a 1 year visa for the Business Manager option and have to apply each year for the first 2-3 years before you'd be eligible for a 3 year visa. While you techincally could just get a job in Japan and they could sponsor your visa my guess would be most people this video is targeted at are not interested in that option. TL;DR you'll always pay taxes to the jurisdiction with claim on your investments and getting a long term visa in Japan for entrepreneurs is costly, time consuming, and will result in taxes paid to Japan.
I was just looking for tax free camera lens in Japan for my upcoming trip and this vid popped up😂
As an American and permanent resident in Japan, I’m quite interested in this topic. The only (obvious?) problem with the opportunity you describe here is that, while you may not need to pay taxes TO JAPAN during that 5-year window, you would be a tax resident somewhere else. They’ve got us where they want us I’m afraid.
Non-permanent resident for tax purposes status is a tax resident of Japan. So if the country where the income comes from has a tax treaty with Japan where you only pay taxes where you live, the source country will not deduct taxes and neither will Japan UNLESS you remit the income to Japan. This is my situation at the moment but I unfortunately need the money to live so I bring most of it over and it gets taxed here. But again, I pay no taxes in the source country.
@@Closetgaminand how much tax % do you need to pay? I'll move to Japan next year but I have a company in my country and I don't understand about japanese taxes
@@aggonithey are among the highest in the world.
Another thing that is not often known is unlike a lot of residency programs pt, es, etc… If you have JP residency (non perm or perm) doesn’t matter… then you can leave for up to 1 year or pay a small fee and leave for up to 5 years while still maintaining your residency (up to your visa validity). No requirement for time in country basically. Just gives you a bit of flexibility if you travel or go home a lot. Vs some places which limit your time out of country to maintain your residency.
Pretty good info thanks!
Always a pleasure!
Anything you'd like to see next?
Japan isnt on my list but super interesting info and take on how to think outside of the box.
True! Would you consider Japan having this info in mind?
Note that if you do stay past the 5 year mark you can apply for citizenship although you do have to renounce your existing one.
Yeah it's a great passport too
@@OffshoreCitizen Yep, I just got mine and I'm thrilled. The process was quite bureaucratic but straightforward and easily accomplished without employing any 3rd party services if you're willing to do all the paper work yourself. I had to trade in my double-headed chicken passport but due to the chicken being currently massively toxic I'm very glad to be rid of it. One downside is that now I'm taxable for up to 55% of income so working this part out is the next step.
@@thunderwhhow so? What visa did you use to live there for 5 years, do you have a Japanese partner? I thought it’s impossible to get a Japanese passport without being married to a significant other citizen
@@SlashGamingftwthere is no 5 year path to citizenship in Japan. It’s 10 years of consecutive residency and then many other factors including your language and contribution to Japan. It’s not easy and then you give up your citizenship to pay the highest taxes in the world.
bro gave up his nationality of birth for that of a country that will never see him as a true citizen, but forever as a "foreigner". what the hell.
What type of Visa would someone be able to get if they werent working, married, studying, etc? ..that would allow them to take advantage of this?
Problem is how to get money into Japan to fund your expenses while living there? Banks WILL NOT open accounts for foreigners unless you have a local employer (Even then its very hard), landlords WILL NOT accept cash payments for rent.
Can open internet bank account now, the non-Japanese like the Korean ones are very flexible - think Aozora GMO, SBJ etc.
This is not a problem. All residents in Japan no matter their country of origin are allowed to open a bank account, you just cannot do it on a tourist visa because tourists are not residents. You don't need a local employer. You will need a visa anyway unless you plan to only stay 90 days.
The post office will allow you to open a bank account as long as you have a resident visa.
Even if you make no income in Japan you can still use this bank account to pay for rent by simply depositing enough money for your rent every month, you can deposit cash in any atm.
Withdraw money from your foreign card and then just deposit it in you japanese one.
I used to rent an apartment in a building where the landlord lived on the top floor. Every month I'd go up there and pay my rent in cash. In fact I've lived in four different places where I paid the rent in cash. So often they WILL accept cash payments for rent.
I'm talking about Japan, of course.
I agree, Michael, I love Japan. That language sure is tough though!
Could you see yourself living there?
Interesting video! It would be interesting to move to Japan for a while at least. Btw you seem to have super interesting job! What kind of background is required to be offering tax consultations for people - MBA, law degree, something else?
Even convenience foods in Japan taste dramatically better than in the US. I find this very interesting.
My best theory is that Japan must have dramatically better cultural norms around food and therefore has more discerning customers.
It's unbelievable, they are so good at it, not sure how but it's great
Hi Michael, nice video. I’ve already read about but you summarized very well. But one question came up. Does this rule (stay only 5 years within the 10years) work for every 10 year period (it starts counting every 20 years) or only for the first 10 years?
Sorry i wrote wrong, “it starts counting every 10 years”, not 20
Mike as a suggestion maybe a video about the updates to the Beckham law in light of the Startup Act? Looks very appealing.
We did a video about the digital nomad visa and benefits there. One issue is there's some confusion about some details still
@@OffshoreCitizen Ok got it thanks. Yes it wasn’t very conclusive from what I read if someone holding foreign investments would be taxable on them in Spain if they are your only income. Thanks for the content
Yeah hopefully we'll find out soon
I know one person who does this exactly as you described so can confirm. Only downside is having to log every stay in an Excel-sheet very carefully with proof - and have to fly a lot and not fun when you have kids. But then Japan is awful in summer anyway. So Jun 1 - Sep 15 is already a hundred days better to be abroad.
I didn't understand the Excel sheet part. I'm interested because I'm moving to Japan next year and I need to understand if I have to pay and how much. I'll be using almost just foreign credit and debit cards
The fixed expenses you do have in Japan, your rent or mortgage, purchases etc. would that amount be taxable then, or if you using AMEX for example with the money paid off outside etc. then it's not considered brought in? Love Japan btw (as you say, most do)
My same question
Even if using Amex was considered brought in, it would be impossible to administer unless it was volunteered and itemized by the purchaser
You're bringing it in if you're spending it in Japan. How it's paid in doesn't matter. Though who pays it in does matter so there's some flexibility to play with there.
The challenge is getting the long term visa.
Like the US, Japan has an exit tax and IMO is much worse. Japanese Citizens who leave Japan and establish Residency somewhere else, even for a short time, become subject to it paying the tax on your portfolio's unrealized gains. With the dropping Yen rate the threshold (100 Million Yen) is not that difficult to achieve. Foreign Nationals become subject to it if they live in Japan for 5 of the last 10 years as well. My Japanese wife and I (U.S.) are considering moving back for 5-years or less, but will need to figure out how to show phantom capital gains in both her Traditional and Roth IRA's using the FTC each year to offset a future exit tax. At least I get 5-years without worrying about it.
Very interesting Mike. One of the only high tax countries i would be willing to live in and pay it. But probably doesnt work for stock traders? Even their local tax laws on shares is different than other countries. Getting residence permit may be dififcult for this (maybe flunk Japanese language school for 5 years)
You'd need a foreign legal structure, which is tough to make compliant so you'd need enough scale for it to be cost effective
@@OffshoreCitizen If its as complex as you say, probably not worth it for most if it only works for 5 years
Depends how much you're making and your goals.
Assume an annual cost of say $30k/yr or so how much tax would you be saving and you can do the math
Interesting video, Michael. So I was wondering... Let's say you move to Japan and live off the money you earn abroad. The only way to avoid taxes would be to transfer the money into Japan before you become a resident and then spend it during your stay?
Yes or only get taxed on what you bring in
@@OffshoreCitizen I see. Thanks for that.
do one about belgium
Great idea will do
Been to japan 2 times, going back in 2 weeks. One of the best place on earth for sure. Under what program would you stay in Japan for 5 of 10 years?
It's so great I love Japan!
This is a tax status so you need to find an appropriate immigration program to go with it in your situation
@@OffshoreCitizen Gotcha, thank you :)
Wait I am confused,, You would get charged for the income in the country its being generated no? So for example you are living in A country bought a property (naturally with your legitimate income and not on cash/with Black money) then you would ideally have a bank account. If you happen to sell the proprty or stocks or any such things.. you would get charged on those capital or short term gains based on the tax of that country A?? how does living in Japan make that income tax free? does it mean dual tax treaty and need to claim a refund from Country A or Japan Govt while filing for the tax charged in country A?
You could be earning the money in a tax-free country. For example, I live in a country with close to 0 capital gains tax and that would not be taxed when I live in Japan either.
Question - what if you are living in Japan on. non permanent residency visa (Spouse) and you earn income from your home country UK, and pay tax in the UK. You dont have a Japanese bank account and dont brfing any money into Japan. Are you then liable to pay tax in Japan on monies not earned there and never brought on shore ? does that status change if you get a permanent residence ? Is that past 5 years ? also if you were to bring any money into Japan can that be in the form of a loan rather than income ?
My guess is, if you live in Japan as a tax resident on a spouse visa, you should pay taxes in Japan, not in the UK. I'm pretty sure there's an agreement so that you don't get double-taxed. I work remotely for an Australian company and get paid in Australia, but I pay my taxes here in Japan, my country of residence. I am not liable for income or any other tax in Australia (due to a double-taxation agreement between the countries), and my Australian employer does not need to withhold my income tax either. Also, if you don't pay income tax, (and pension, residence tax, national health insurance, etc.) in Japan, I doubt you could ever successfully apply for a PR, which is still better than a spouse visa because your residence status is independent.
From what I understand, tax-wise a spouse visa is the same as a permanent residency. Both are called table 2 visas and you're immediately on the hook for worldwide income, no matter how long you stayed in Japan. So this affects income and capital gains tax, inheritance tax (even if that inheritance is overseas and the donor has never set foot on Japan), gift tax, etc. There's even an exit tax if your worldwide assets exceed a certain threshold, similar to capital gains for when you're leaving Japan for good. Why? Just because. To me, some of these tax policies are more in the mafia-style highway robbery category.
It's a different story when you're in Japan on a work visa or any other table 1 visa and haven't stayed more than 10 years in the last 15 years (I think, please do your own research). I'm in Japan on a PR, previously on a spouse visa. The tax situations mentioned above are not necessarily an issue, but depending on individual circumstances it can make a massive difference, for example if you inherit a significant amount or property and you're in Japan with very high inheritance tax vs in a country that has lower or no inheritance tax at all (and Japan even covered the situation if you should temporarily leave to receive an inheritance overseas and then come back), or if you have enough assets to fall into the exit tax threshold.
Tax implications aren't often discussed when people ask about visas, and spouse visa or PR are often seen as the holy grail to stay in Japan, but it can potentially lock you into a very disadvantageous situation.
Having said that, in my opinion Japan is a great country, indeed. I can make some compromise for living here, but since I found out about specific visas and their effect on the tax situation I urge everyone to research first and make an informed decision on what they're getting themselves into. This isn't something that is advertised when you apply for your visa, at least I don't recall receiving any related information. Anyway, it's not all bad and Japan has very positive sides to it, just don't go in blind.
How does one get a residence visa for Japan to be able to stay for 5 years?
Exactly what I'm wondering about. How to go and reside there in the first place. I've been looking around to find some sort of a retirement visa or something like Malaysia's my 2nd home scheme where you deposit a certain amount of cash and then you reside there.
Totally depends on your situation. In most cases if you can afford it hiring yourself is one of the more accessible options
So the non-dom regime in Malta as I understand it and to a certain extent Ireland taxes you on money that you were meant to the country. I did speak with a solicitor for almost an hour about Malta who claims to have been involved in setting up the tax regime. It was interesting because we had a call with him, and an accountant. I didn't have any questions for the accountant. My only question related to money remitted to Malta. So it appears that any money you send to Malta you are taxed on however, you're able to take funds that you already have and use them to buy real estate etc without paying any tax on those remitted funds. As well, if you were to use an online debit card such as revolute or wise, the money would not be remitted to Malta. I don't know anything about the Japanese tax regime, other than what I heard from your presentation. What is unique about Malta is that they really have two tracks, and it took me a while to understand it. First of all I read about 200 pages about what constitutes non domicile, very interesting and complex area of law. But in Malta if you are non dom, you have to have a place available to yourself on a full-time basis which you cannot rent which you can purchase or rent, and you have to pay a minimum tax of around 5,000 euros. Only problem, you don't get any health care benefits and you're not part of their socialized healthcare, nor would you qualify for a European health insurance card. You can only get that if you declare yourself working in Malta either as a real job, or incorporating a company and being self-employed doing whatever. The other thing is that the number of days you need to spend on the island is undefined and the only thing the regulations say is that you have to have the intention of being a full-time resident in Malta. And there are a lot of companies that produce paperwork for you such as grocery store bills etc so you can take this whole plethora of documents to the immigration office to renew your residence permit. And these invoices suggest that you were on the island buying groceries etc. It's almost like the government knows that these people are doing this, when you go in there you know they know what you're doing but they pretend they don't know, and you pretend you don't know. So how many months do you have to be on the island to be a resident? I don't know, and no one was able to tell me, the closest I was able to get to that answer was I'll be happy to prepare a request to the tax department to get you a tax ruling. But if we go full circle on this argument, if you are an ultra high net worth individual, you're going to want to have a fairly comfortable lifestyle. That would mean bringing in a substantial amount of money into the country at least for living expenses. So I guess they would tax you on all that money that you brought in. It's not that much different than the forfeit that they have in Switzerland where they charge you six times your rent as a flat tax. Unfortunately, only some cantons have that regime, and they're usually the ones that speak German as opposed to French, and they remind me of the dreaded Canadian weather I left. And finally of course in Switzerland you don't get any health care you have to pay for it and it's all private, not only for you but for everybody. So this is a very interesting topic, and it's the first I've heard in that area. The only other comment I have is that Japanese is a rather hard language to learn and it would probably take you around 1400 hours of intensive study. Are you ready for it?
Great research
Japanese is an easy language to learn. The language incorporates many foreign loan words
Give it a try
@@bornfree8487 well I'm not going to try to learn it would end up being my sixth language
I lived both in Malta and Japan and have companies in both and Malta is truly a pain in the ass unless you're very wealthy.
If this is true it also means as a non resident you don’t receive any national health cover, can’t do banking or use financial services. If you planning to rent that’s going to be difficult as well.
You can be a non-permanent resident for five years.
My wife (Japanese national) and I having been looking through the details. Our issue is the relatively high taxes on stock sales including those in retirement accounts. Roth IRAs particularly have no tax benefits like they do in the U.S. I think we will stay less than six months in a given year to avoid a tax hit. We are trying to figure out if we can register in the city and get healthcare benefits without reporting income since we are staying less than 6 months.
Why not get a NISA account in Japan ?
@@hako8358 how do NISA accounts work?
How can I get Japan tax residency FAST?
Thank you so much.
What are your sources? To find out about loopholes in various countries etc websites? Books?
It's our business so we're constantly researching so we become the authority
@@OffshoreCitizen yeahh, whats the lowest capital gains tax you can get with residence in Czechia these days? Ideally its a structure that allows cash to compound year over year with as low taxes as possible, i can withdraw as needed and get taxed only the parts i use for living. Is this possible with czechia?
Yes it is possible but a fairly complex structure so the ongoing operating costs would need to be worth it
@@OffshoreCitizen yes that can be ok, whats your general idea? What type of company in what country
Chile and South Korea have the best passports like a Swiss Army knife including America, Europe and Russia would be nice to see a video on those 2 countries too if you don’t mind
We touch a bit on South Korea here czcams.com/video/cdgaKJv_l_E/video.html but will definitely cover more on both countries in the future
@@OffshoreCitizen thanks would be nice if there’s a foreign income tax exception too do they?
We'll make a video about them in the future.
@@OffshoreCitizen awesome thanks for your videos I feel others in this field just try and sell you something but you actually have a business mentality which makes it unique when you make these videos offering solutions
Seems lots of headaches as you probably need to keep a tax residency somewhere else as you can't stay more than half the time in Japan. Better setting up a residence in Malaysia or Philippines and use tourist visas in Japan. Many passports receive 90 days exemptions so doing twice a year is doable and quite hassle free. Flights to Japan are not very expensive either from there.
If you try to avoid taxes by staying 90 days twice a year, eventually they will not give you the 90 day tourist visa when you enter the country. For example, they may only give you 30 days.
I live in Panama where no income outside of Panama is taxed.
Deloitte: "As from 2017, nonpermanent residents also are taxable on capital gains from the sale of non-listed shares and shares acquired while resident in Japan."
So the only benefit of this status for someone whose source of income is capital gains from shares is it allows zeroing out of existing gains, not for new ones. Incidentally you can do this in other places, some quite surprising, like Australia and even Denmark!
You can put the shares in a foreign legal structure and convert the capital gains to dividends so they qualify. Some rules apply
@@OffshoreCitizen wouldnt CFC rules get triggered? How to avoid it?
Yes both CFC & corporate residency rules can apply but both of those are things you can work around.
Also note it's not existing gains it's gains from existing holdings.
This foreign income concept is something I raised a few months ago in relation to swing trading and the Italian flat rate scheme.
Still wondering whether trading is considered FSI by these countries
Generally sale of shares are considered sourced where you are resident but it varies by country
My understanding is that Italy treats day trading income as foreign source income. So the 100k flat tax regime works.
@@OffshoreCitizen I was referring to trading futures ... is that considered FSI while living in Italy?
Depends if they consider it to be earned income generated actively
If i am working in Japan for a foreign company (work from home) that is headquartered in a another country then I still pay Japanese taxes right?
Yes but if you travel to work outside of the country then no
@@OffshoreCitizen I had a friend who switched on his VPN as a technical "work outside of the country"
But how would you get a temporary residency there?
Totally depends on your situation
@@OffshoreCitizen Ahaha, nice one! But so many people get kicked out of Japan. There's now a CZcamsr, called Ippo. He needs to find a job in 3 months, or leave. What could he do? Is there someone that could easily stay?
Usually if you've got the means it's fairly easy. If you don't that's where you start to run into issues because you can't sponsor yourself.
Education visas are Usually a pretty easy way to go but again have to be willing to sign up
I'm interested in the details of these exemptions, if you don't mind, maybe a private response. I lived there for 4 years in military and want to go back. I know some employers like to short change foreigners. What's to stop them from saying you are going to be there for... 5 years 1 day and then fire you when it's convenient. What are some details to this no one thinks about. Want to go back and live there.
Interesting video.... Can i have a company in singapore and pay dividends to me living in japan ? Looks like the tax treaty is 10% in dividends (of course doing this right to have an "efective presence in singapore)
I also want to understand this. I'm struggling with Japan taxes haha
Mike - great video. Love Japanese girls.
On another topic, would like to hear a video about Turkey. Having spoken to a local here, seems like there's a bit of the Mexico phenom going on. High headline tax but in reality, not always enforced and regular amnesty.
Good suggestion will do
Yes, Turkey will be an interesting country to consider. Interesting culture, food, beaches, weather, so well connected and great time zone.
Would be great to know how Turkey could be made tax efficient if one lives there.
Always wondered this myself too. good question
how do you deal with inheritance tax 55%?
That doesn't apply until you are a permanent taxpayer.
OK but what visa will allow you to stay over 90 days?
Many people come here on a language student visa which allows you to stay for up to 2.5 years. After that you can switch to a work visa (self-employed or freelance works too). Note that if you do come on a language student visa it's generally required you attend classes about 3 hours a day otherwise you lose your visa. If you want to learn the language this would be a good option.
But won’t the company you are making the money in tax it? For example if I am making money using rental property or dividends in Canada, and living in Japan, won’t I have to pay taxes on that income in Canada?
You will. The way you pay no taxes at all is by having that rental property in a country that would not tax it or tax it low
If I am a freelancer, that works IN Japan soil, but my client pays me to a US bank, would that be taxable? income?
That is domestic income and will be taxed in Japan regardless. Foreign-sourced income is any type of passive income
I have a question I would really like you take listen too...
How is it that you only accept payments through Paypal? I don't use them and so scheduling a call with you is impossible.
We accept crypto payments too. A bank transfer can also be arranged. Please send us a message through our website
@@OffshoreCitizen Venmo? (owned by PayPal)
I'm interested in moving to Japan and investing in crypto my question is would I have to pay tax on the crypto in Japan or is that outside income ?
If you're not bringing money into Japan then which money do you spend whiles in Japan?
The whole idea is to bring money into Japan otherwise you pay on what you bring in and leave the rest out
Hardly a tax haven if your money needs to be earned in an actual tax haven and never transferred there in order for you not to pay tax. Japan merely doesn't try to tax people to death when they first move there as most of Europe does.
You can transfer it to Japan the subsequent year.
Is Taiwan (Republic of China) a similar tax set up?
What if I live in Japan but work remotely for a US firm in California. Is that considered Japan sourced income ?????
Yes, that is domestic-sourced income
But... the visa is only for 90 days how you can achieve 5 years o.o
Japan sets a new world standard for civilization. Might relocate to Japan for some time. Great country. Great suggestion! 🎉 As long as they don't tax income from crypto holdings abroad.
You'd need to structure it properly
I've analyzed this a ton of time and didn't find a way to make crypto income deemed as foreign-sourced under their new crypto rules. Do you think this still works?@@OffshoreCitizen
Does this apply to crypto? Kinda important.
The non-dom thing is so useless. First of all, you still have to pay tax in the country you are coming from (so this isn't really a tax haven). Secondly, how would any govt know you're making money outside of the country anyway? All you have to do is be rich and bring your debit card to live anywhere you want.
Thank you! Japan is definitely on my list
So if I have dividend income from abroad and I draw some monies from an ATM using a foreign debit card. Is this money regarded as remitted for tax purposes??
I agree Japan is a sleeper. A wonderful place
I also have a similar question. What money that one brings into Japan is considered income and thus taxable? How does one show that the money one brings into Japan is not taxable?
Sometimes you just have to read between the lines
Money you bring into Japan once you're a resident (not when you're first entering) is taxable.
Spending money in Japan brings it into Japan, though there is so question as to what business expenses a foreign company could have in Japan without those being deemed taxable benefits
@@OffshoreCitizen
Thank you kindly
@@bornfree8487 I never had an issue with what you describe, 6 years in Japan
I emailed you a couple of days ago, but didn’t receive an answer😢
We’ve been experiencing some technical issues lately. Sorry about that! Hopefully it gets fixed soon
Wait, "as long as the income is not brought into Japan" - so how do you pay your bills while living in Japan? You've got to have money come INTO Japan. Is that taxed? Even after paying taxes in, say, the US?
You cant remit it the same year you get it.
Wouldn’t you have to bring money into Japan to pay your rent of your apartment if you were staying a few years? And then you would be taxed on that? But of course I guess that would be lower than taxed on your entire money that you earn abroad.
Not if you bring the money in before you settle there.
Depends usually in remittance based systems you bring the money in when you initially come. So say I enter with $1 million, leave the rest abroad to grow and live off that $1 million for my Japanese expenses for the next few years. If you exceed what you bring in then it's as you say.
Japanese don't consider you as native no matterhow you live is coz they respect your nationality and identity as who you are...
What if i got 1 million usd earnings from my country then i put it in japan how much tax will i get?
Not clear what you mean "put it in Japan"? It's all about your residency
@@OffshoreCitizen example i am student in japan but lives in other country and i have USD to convert in YEN is there any tax obligation there?
So how do you spend money in Japan without bringing it into Japan?
You can bring it in the subsequent year. You can have other income that is taxed in Japan to live on, or just bring in the amount you need and only that amount is taxed
I live in the US and I want to open a bank account in Japan. Can you help me find a bank in Japan that pays interest for keeping my money there.
rofl Japan has negative interest rate this doesn't make any sense
japan is truly amazing, and tokyo is somehow... spotlessly clean.
this sounds a lot like how living in thailand is to me, how japan would work tax wise for an expat.
Thailand is far easier to optimize tax and doesn't have a time limit
I would say paraguay
I am married to a Japanese, never live in JP for over 3 months. One time, I was going to do the non-residence/residence avenue but I miss California and US income. So, visiting JP 3 or 4 times a year is better. Unless you are addicted to JP guess it can be a good option but for income/finance wise US is much better, and JP is better for living/playing around and it is cheaper in JP.
Yet everyone moving there eventually leaves. They are just not welcoming.
That makes it perfect for this regime since it's only good for 5 years
What do you think makes them unwelcoming?
I don't know. That's the most prevalent feedback out there.
Ironically, this is also the cause of much of its attractiveness as a place to live!
And how many countries are truly "welcoming" to foreigners anyway, especially those who speak a different language.
How would you pay for your lifestyle when you cant bring in any money to Japan?
You can bring money in you just get taxed on that money.
But generally you bring in a lump sum when you're first moving there so you've got that to live off of
2:52 Thank me later.
didn't understand shit
Sushi is such an overrated food.
it’s not something you eat every day. but if you think it smells, it’s a wrong place.
@@yuka-youtube I don't think it smells. Just don't think it's anything special, esp. for how expensive it is.
…and no third world migrants…
Have you been inside the immigration centers? They're coming, within 5-10 years Tokyo will be the same as a Paris or Frankfurt. Enjoy while it lasts.
a lot of ccp people. which is a big problem in japan
Top immigrant groups in Japan are Chinese followed by Vietnamese and Filipinos.
@@yuka-youtubeBig problem? Haha to your disappointment, I might be moving over there as well. 😂😂😂