This article is a translation of the Japanese original. Where the two differ, the Japanese version prevails. Read the Japanese original（日本語版を読む）
You choose by weighing 4 things together: how easy the account is to open, foreign-language support, fees, and how easy the online banking is to use. Online banks, which need no visit to a branch and can be dealt with entirely online, have a relatively low bar to opening an account, while megabanks are strong on standing and on their overseas networks. Which you choose depends on what your business does.
A comparison for people who have set up a company and obtained 在留資格「経営・管理」, but do not know where to open a corporate bank account.
The services, fees and screening criteria of each bank may change. Before you actually apply, please check the latest information on each bank's website and elsewhere.
Check 4 things: how hard the account is to open, the support on offer, the fees, and the online banking.
A corporate bank account is not only the foundation of how your company manages its funds; it is also essential in gaining the trust of the businesses you deal with. If you are a foreign business owner, you need to choose with particular care on the following points.
No visit to a branch is needed and everything is done online, and fees are relatively low, but how good the foreign-language support is varies.
Points to watch: a certain level of ability to communicate in Japanese may be required. Screening can take time.
Points to watch: foreign-language support is not as good as at GMO Aozora Net Bank. An account maintenance fee may be charged (subject to conditions).
Points to watch: foreign-language support is limited. For a recently set up company, screening can take time.
They are strong on standing and on the depth of their support, but screening tends to be strict and the procedure tends to take time.
Points to watch: screening to open an account tends to be strict, and the documents required tend to be many. Fees may be set higher than at online banks, and the procedure often takes time.
Points to watch: foreign-language support is often limited, and the online banking functions may be poorer. The area they serve may also be restricted.
Prepare 3 kinds: documents about the company, documents about the representative, and material showing what the business does.
The documents required differ from bank to bank, so please check in advance on each bank's website and elsewhere. Once the expiration date of your period of stay has passed, there are cases where you can no longer withdraw money from the account, even during the 特例期間 (grace period) while an application for extension is pending. Do not forget, too, that some banks require a closing procedure when you give up running your company in Japan and return home.
At GMO Aozora Net Bank and PayPay Bank no visit to a branch is needed, and the procedure can be carried out online. For a recently set up company, however, screening can take time.
At GMO Aozora Net Bank, English is available on the website and at the support desk. At megabanks too, some branches and some members of staff can deal with you in a foreign language.
Once the expiration date of your period of stay has passed, there are cases where you can no longer withdraw money from the account, even during the 特例期間 while an application for extension is pending. Please start the extension procedure early.
Some banks require a closing procedure when you give up running your company in Japan and return home. Please always check with your bank whether a procedure is needed.
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This page is a translation of the Japanese original. Where the two differ, the Japanese version prevails.