Japan Establishes Financial Asset Management Zones to Attract Global Investment

TOKYO, Jun 05 (News On Japan) - The Japanese government has designated four prefectures and three cities as special financial and asset management zones, introducing policies that include the creation of new visas for specific foreign investors.

To promote the shift from 'savings to investment,' the government aims to encourage new domestic and international entrants and competition in the asset management industry. The designated zones include Hokkaido, Sapporo City, Tokyo, Osaka Prefecture, Osaka City, Fukuoka Prefecture, and Fukuoka City.

In these special zones, new residency qualifications will be created for foreign investors investing in startup companies, and regulations will be relaxed for banks investing in GX-related projects.

Regarding tax incentives, which are highly demanded both domestically and internationally, some regions will implement local tax reductions, while national taxes are 'not currently envisioned,' according to the government.

Source: ANN

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