Opening Bank Account

After you obtain Residence Card and register your residence in Japan, we are sure that you would like to open a bank account in Japan. Each bank, even each branch of the bank, has its own procedures and requirements for opening a bank account (individual and company). Big Four banks apply more strict rules and regulations, so it would not be easy for those who have just reside in Japan to open an account at their banks. It says that it is easier to open an account at regional banks, shinkin banks and other banks such as Japan Post Bank, Rakuten Bank and so on.

Banks and Shinkin Banks in Japan

Big Four

Sumitomo Mitsui Banking Corporation, Bank of Tokyo-Mitsubishi UFJ, Mizuho Bank, Resona Bank

Major Reginal Banks in Kansai Area

Kinki Osaka Bank, Kiyo Bank, Bank of Kyoto, Bank of Shiga,

Other Major Banks

Japan Post Bank, Rakuten Bank,

Major Shinkin Banks (Credit Unions/Associations)

Osaka Shinkin Bank, Osaka City Shinkin Bank, Osaka Co-sei Shinkin Bank, Kyoto Shinkin Bank, Kyoto Chuo Shinkin Bank, Amagasaki Shinkin Bank

 

Especially, most of the banks in Japan limit foreign nationals to open a regular bank account in case;

  • the person has not yet resided in Japan more than 6 months after completing residence registration.
  • the person has a visa which is not allowed to work.

In that case, the bank will give them an limited account which cannot transfer money and so on.

In case you are coming to Japan for study under Student visa status, ask your coordinator of the school. The school would have an affiliate bank so that their students can open a bank account soon after they start to reside in Japan.

To open a corporate bank account in Japan is getting difficult these days even when the company is owned and managed by Japanese. You would be asked many questions about the purpose of opening the bank account and the business of the company. The bank would reject your company to open an account depending on the representative director’s visa status and the period of stay in Japan. In some countries, opening a corporate account is a part of the procedures of incorporation or setting up a business entity. However, in Japan, there are some possibilities that the company would be rejected to open a corporate account even if it has been already set up.

It is possible to open several account (individual and/or corporate) at different bank in Japan. We would recommend to go for local regional or shinkin banks first. Generally, you cannot open an account at banks/branches which is far from your residence or company.

Necessary Documents and Requirements

Necessary documents and requirements for opening a bank account are different depending on banks and branches. You should ask the bank or branch of the bank directly for the details.

In case of individuals

  • Identification
    In most cases, A and B below is required:
    A) Driver’s License, Passport, Residence Card and so on.
    B) Invoice or Receipt of public services such as electricity, water, gas and telephone.
  • Hanko (seal) for bank account
  • Phone number

In case of companies which has not yet been more than 6 months after the company is set up.

In addition to interviews for the business of the company, the bank will require the following documents:

  1. Certificate of Company Registry (all historical matters) .
  2. Hanko/Seal for bank account.
  3. Registered company hanko/seal
  4. Identification of the representative director
  5. Certificate of Company Seal
  6. Articles of Incorporation, List of Shareholders
  7. Copy of Notification submitted to Tax Office (Notification of Company Set-up, Notification of Opening Offices)
  8. License, Permit and Certificate if the company does the business which is required those license and so on.
  9. Documents which certify the business (especially in case of the virtual offices and serviced office: Invoice, business agreement, statement of other banks etc.).

Main Requirements and regulations for opening an account

Sumitomo Mitsui Banking Corporation http://www.smbc.co.jp/

  • Would provide "Non-Resident account" for those who have not yet resided in Japan for more than 6 months.

Bank of Tokyo-Mitsubishi UFJ http://www.bk.mufg.jp/

  • Would provide "Non-Resident account" for those who have not yet resided in Japan for more than 6 months.

Mizuho Bank http://www.mizuhobank.co.jp/

  • Application needs to be made in person at their counter in case you have not yet resided in Japan for more than 6 months.

Shinsei Bank http://www.shinseibank.com/english/

  • Requires Residence Card which shows more than 1-year of period of stay.
  • Corporation Banking Services are only available at their offices in Tokyo, Osaka, Fukuoka, Hiroshima, Nagoya, Kanazawa, Sapporo, Sendai and Takamatsu.

Japan Post Bank http://www.jp-bank.japanpost.jp/

  • Limited account (unable to transfer money) is available for those who have not yet resided in Japan for more than 6 months.
  • Hanko/Seal is not required to register at the bank – they accept your signature.
  • The maximum deposit amount is fixed in case of the corporate account.

Rakuten Bank http://www.rakuten-bank.co.jp/

  • Regular account is available for those who are working at office in Japan or have resided in Japan for 6 months or longer.

Seven Bank http://www.sevenbank.co.jp/english/

  • Regular account is available for those who have resided in Japan for 6 months or longer with limit of 1 account per person.
  • Corporate account is available for only the companies which use one of the specific services.
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