Japanese government to simplify procedures to set up business in Japan with online solution

The Japanese government has announced that it will simplify procedures to set up business entity in Japan by combining the necessary steps online. The steps are design to shorten the time necessary to incorporate a company and stimulate the establishment of venture businesses.  Attestation of company statutes (teikan) via smartphones will be allowed from 2019 and all necessary applications will be possible from the next fiscal year. Presently, it is necessary for companies to lay down their company name and activities in company statutes that need to be certified by a public notary in person. Also, company founders currently need to file applications at various government counters to complete their registration taking valuable time. Japan currently ranks 24th out of 35 OECD countries with regard to its business environment. The government has set itself the goal to be in the top 2 by 2020.

The government plans to use the a so-called “My portal” online service, which was established in the fall of 2017 and streamline and combine procedures for company registration, tax payment and social welfare regulations, thus saving time and costs for businesses.  “My portal” is currently only available in Japanese, it is not known whether there are plans to offer the service in other languages as well.

 

Source: Nikkei Online

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