FAQ Archives - Page 46 of 94 - Ohara & Furukawa

November 18, 2016

Can compulsory execution reach assets outside of Japan?

Compulsory execution is a powerful tool for creditors to recover assets from debtors who refuse to pay off their debt. However, as compulsory execution is based upon the power of a Japanese court of law, it is also limited by that same court’s power. Therefore, assets outside of the court’s jurisdiction will not be able to be reached by compulsory execution.

November 16, 2016

How do inheritance taxes work in Japan?

Like most countries, Japan levies a tax on inheritance for estates probated in Japan. This tax is progressive, so the amount of tax that is charged increases according to the value of asset received by each heir. For example, the first 10 million yen received by an heir will be taxed at 10%, the amounts from 10 to 30 million yen will be taxed at 15%, etc., up to amounts over 600 million, which will be taxed at 55%.

November 14, 2016

Is an arbitration award final and binding?

In general, arbitration awards are final and binding on the parties, in the same manner as a court order. Furthermore, a Japanese arbitration award is enforceable in many other countries around the world through international treaties. As arbitration systems become more standardized around the world even more countries are likely to accept and enforce Japanese arbitration awards.

November 11, 2016

Can you participate in a Japanese family court mediation in English?

As international marriages and divorces increase in Japan, in order to lessen the difficulties for non-Japanese speaking spouses, most Japanese family courts are staffed with mediators that can speak English. However, these mediators may be of varying levels of skill and sometimes it may be easier to bring an attorney or bi-lingual friend to the mediation to help interpret. The court should be informed of this beforehand and in some cases the approval of the other spouse may be required.