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Japan Financial Services Zones

As part of its initiative to position Japan as a leading global hub for finance and asset management, Japan’s Financial Services Agency (FSA) announced the “Policy Package to Achieve Special Zones for Financial and Asset Management Businesses” in June 2024. This initiative aims to create attractive, business-friendly regions that draw both domestic and international investment funds by improving business conditions and enhancing quality of life. The FSA will work closely with local governments and ministries to develop competitive industry clusters, encouraging robust investment in emerging sectors.

As part of these developments and the special zones, the GOJ will offer various incentives to attract foreign asset management companies. These incentives include administrative services in English, streamlined business registration, new residency status for foreign investors in startups, and support for opening bank accounts. Earlier this year, the FSA designated four regions as special zones, which are:

  1. Hokkaido and Sapporo: Focused on green transformation (GX) industries and financial services.
  2. Tokyo: Promoting sustainable finance and startup growth in Japan and Asia.
  3. Osaka: Attracting international investment to drive innovation by startups.
  4. Fukuoka Prefecture and Fukuoka City: Strengthening financial services as a gateway to Asia and fostering startups.

Further, in the spirit of positioning Japan as a leading global center, the FSA will host the second “Japan Weeks” in Tokyo from September 30 to October 4, 2024. This event will facilitate communication between international investors, asset management companies, and Japanese officials, providing U.S. firms a platform to explore opportunities and network with key players.

Japan’s initiatives to become a leading global financial center present U.S. financial companies with ample opportunities to tap into Japan’s growing market and expand their global presence. With special zones providing competitive advantages, and events like Japan Weeks fostering international collaboration, now is the opportune time for U.S. firms to explore Japan’s financial market. For more details, U.S. firms can contact the Commercial Service Japan at Office.Tokyo@trade.gov.
 

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