10 most frequently asked questions about the Shibuya Startup Visa – Part 2
You can find the second part of the most frequently asked questions about Shibuya Startup visa here!
6. Is there a capital funds requirement for a Startup Visa?
Startup visa applicants do not need to have any prior investment in their business. However, the requirement to have a ‘viable’ and ‘scalable’ business idea means that, in practice, you need to have an initial capital to support your company’s launch in Japan.
After a year, all Startup Visa holders are required to change their visa status to Business Manager Visa, and the requirements to apply for a Business Manager Visa are
・Dedicated office space
・5 million JPY capital
In order to guarantee the success rate of applying for a Business Manager Visa, all Startup Visa applicants are supposed to show a 5M + bank balance statement.
7. How to submit an application for the Shibuya Startup Visa?
Candidates should first reach out to Shibuya Welcome Service via the CONTACT US form who will assist startups with the completion of their applications forms. After the initial assessment, they will have a 30 min online call session to discuss the necessary documents and timeline for visa and incorporation procedures.
8. How long does it take to submit all the documents and get approved?
The inspection process at Shibuya city office will take about two to three weeks. After an approval letter is issued, successful applicants have to apply for a Certificate of Eligibility for a Designated Activity Visa at the Immigration Bureau. It takes two to three months for the Immigration to inspect the application, but now the process is slower due to the pandemic restrictions. Overall, the whole application process and approval will take around 3 months on the shortest.
9. Can I apply for a Shibuya Startup visa if I already live in Japan?
Yes, you can change your visa status from inside Japan. The list of documents is the same although the timeline and procedure order is different. Once you get the approval letter from the Shibuya city, you will need to apply for a change of the visa status at the Tokyo immigration bureau.
10. What are the necessary steps after obtaining a Startup Visa?
After landing in Japan, you will need to work on a company registration process. Most of the applicants set up either kabushiki kaisha, a stock company, or godo kaisha, limited liability company.
The very first step would be visiting a notary office to get notarized the articles of incorporation. With that document in hand, you will have to go to the Legal Affairs Bureau to officially register your company. The inspection process at the Legal Affairs Bureau takes about two weeks. After you receive a registry, you can start working on the company bank accounts setup to have an official status as a company.
It is permitted to delay the incorporation process until the second 6 months of your visa. Market research, building a client database and establishing relationships with business partners, is more important than legal procedures. However keep it in your mind that incorporation should be completed within a year so that you can qualify for switching to a business manager visa.
Do you have any other questions about the Shibuya Startup visa? Feel free to ask them in comments.