In order to attract foreign businesses to Japan, the Japanese government has enacted laws specifically designed to provide an incentive for parties who wish to expand their business into Japan. One such law is the Act for Promotion of Japan as an Asian Business Center, which was put into effect in November of 2012.
Under this law, to qualify for these benefits, companies need to submit business plans and obtain certification from the relevant minister. Qualifying companies can then receive corporate and income tax breaks, assistance with fundraising, accelerated patent review and reduction of patent fees as well as benefits to immigration and investment. These benefits provide a strong incentive for companies who are already thinking about expanding their business into Japan or Asia as a whole.
If you have any questions about setting up a business in Japan, please contact our office for a legal consultation.