Pensioners’ Path to Permanent Residency in Japan
Pensioners’ Path to
Permanent Residency in Japan
Rising Trend of Foreign Pensioners Seeking Japanese Residency In recent years, an increasing number of foreign pensioners(アメリカなど外国からの年金を受給している人), many with Japanese spouses, are choosing to spend their later years in Japan. This trend is influenced by factors such as global inflation, deteriorating safety in other countries, immigration issues, and international conflicts. The appeal of Japan’s relative safety and stability is attracting more retirees from abroad. It’s important to note that the value of their pensions, often in foreign currency, can fluctuate due to exchange rates.
Tax Obligations for Foreign Pension Recipients in Japan Foreign nationals receiving pensions from abroad while residing in Japan are required to declare this income to Japanese tax authorities. There’s a common misconception among many that income from foreign sources doesn’t need to be declared in Japan. However, foreign residents in Japan must report their overseas income, including pensions, to the Japanese tax office. Fortunately, Japan has measures in place to prevent double taxation for those who have already paid taxes on this income in their home countries. The specific rules and exemptions vary based on the tax treaties between Japan and the pensioner’s home country.
Compliance with Japanese Laws for Permanent Residency Foreign pension recipients looking to apply for permanent residency in Japan must comply with various local regulations. This includes proper income declaration, tax payment, and enrollment in social insurance schemes. Ensuring compliance with these requirements is crucial for a successful application.
Continental’s Expertise
in Assisting Pensioners
At Continental, we have extensive experience in assisting foreign pensioners navigate the complexities of obtaining permanent residency in Japan. Our expertise includes guidance on the necessary legal and financial obligations, ensuring that your retirement years in Japan are secure and compliant with local laws. Our support aims to facilitate a smooth transition for those seeking to enjoy their golden years as permanent residents in Japan.
Professional
Masakazu Murai
18 years experience in Investment Banking at Mitsubishi UFJ Morgan Stanley(JV, MUFG Bank and Morgan Stanley). He had provided financial advisory more than 500 entrepreneurs and senior management.
During his tenure, he worked as an employee union executive committee member in promoting diversity, including the active participation of foreigners and women in the office, and engaged in activities to improve the working environment. He specializes in financial consulting and VISA/PR consulting.
Gyoseishoshi Immigration Lawyer
CMA(Japanese financial analyst license)
CFP (Certified Financial Planner)
Master of Business Administration in Entrepreneurship
