Finance Law Newsletter

Japan as an “International Financial Center Open to the World”: Introduction of the Specially Permitted Business for Foreign Investors, etc., and the Specially Permitted Business during Transition Period Exemptions

Finance Law Newsletter

Recently, Japan declared intent to establish itself as an international financial center open to the world. To this end, it is promoting various policies that encourage the participation of overseas asset managers in the Japanese market. Based on these policies, a number of measures have been implemented (particularly by Japan’s Financial Services Agency; “FSA”) to promote the entry of overseas asset managers and to generally enhance Japan’s asset management industry. Noteworthy efforts have been made to improve the tax system (including clarification of the tax treatment of carried interest) as well as to introduce English registration and financial administration procedures (including a ‘one-stop’ service-platform for such purposes).  In this Newsletter, we would like to provide an overview of the recently introduced “Specially Permitted Business for Foreign Investors, etc.” (the “SPBFI”) and the “Specially Permitted Business during Transition Period” (the “SPBTP”) exemptions, which aim to simplify the procedures for entering...To read the full article, please see the PDF file

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