The financial technology
) represents a new technology and innovation which has the purpose of completing with customary financial methods the delivery of financial services
. In comparison with other important players in this field, until now Japan has proven to be a relatively small one, with only around USD 44 million ventures reached in the first months of 2015.
However, the country is projected to ease the investment restrictions which could allow a bigger capital flow for this sector, in an economy which is laid on an estimated USD 9 trillion in individual cash deposits.
Licenses required for foreign FinTech companies in Japan
A foreign company which does not have a local presence is required to obtain a license to do business in the FinTech industry in Japan depending on the types of services it will offer.
According to the Banking Act, a foreign bank which intends to effectuate banking services in Japan
has to obtain a license by naming a single branch office serving as its main base for banking in the country
Foreign moneylenders are not able to be registered with the Money Lending Business Act unless they have a place of business in the country. Our Japan company formation consultants can offer more details on this matter.
According to the Payment Services Act, foreign funds transfer services, prepaid payment instruments issuers and virtual currency exchange operators are able to register, provided that they have a business office in the country.
A foreign business which intends to establish as a financial instruments company related to the FinTech industry in Japan must have a business office in the country for the registration according to the Act, if, for the registration of an investment advisory company, a local business office is not requested.
The FinTech industry in Japan
Even though the FinTech industry in Japan faces certain challenges, the sector has a number of successful players.
If you would like to learn more about the FinTech
sector in the country, or for assistance in starting
any kind of a company in Japan
, we kindly invite you to speak
to our friendly team of company registration
executives in Japan