Opening a Japanese Company Remotely by Non-Resident Shareholder/Director

LOS ANGELES - May 21, 2024 - PRLog -- A foreign company or an entrepreneur can set up a business presence/incorporate a Japanese company remotely by non-resident shareholder/director in one of the following two (2) options:

• Kabushiki-Kaisha [KK] (Joint-stock corporation) {Kabushiki Joto Seigen Kaisha – (If No Committee is Established)}
• Godo-Kaisha [GK] Limited Liability Company (LLC) or similar entity stipulated by Japan's Companies Act.

Under the amendment to the Companies Act introduced in March 2015, a foreign company or entrepreneur can register a Japanese Company in the form of Godo-Kaisha (GK)/LLC or Kabushiki-Kaisha(KK)/Joint Stock Corporation in Japan without a " Japan-Resident"(Promoter/Director).

A Kabushiki Kaisha, commonly abbreviated KK, is defined under the "Companies Act of Japan." A KK Company must include in Kanji KK ("株式会社") in its name either as a prefix (i.e., in Japanese "mae-kabu") or suffix (i.e., in Japanese "ato-kabu"). The term KK is often referred to in English as "Joint-Stock Corporation." However, as a company name in English, "KK" is used as "Co. Ltd.," "Corporation," and or "Incorporated." Kabushiki Kaisha (KK) company enjoys the preferred status among the Japanese business community.

A Godo Kaisha, commonly abbreviated GK, is defined under the "Companies Act of Japan." GK is a comparatively new type of company introduced in the Companies Act of Japan" in May 2006. GK is similar to the UK's Private Limited Company (Ltd) or the American Limited Liability Company (LLC).

Features of Kabushiki-Kaisha (KK) and Godo-Kaisha (GK) At a Glance.

• Capital:  1(one) yen or more.
• Investors/Promoters: 1(one) or more. [Resident/Non-Resident]
• Corporation as an Investor/Promoter: Possible
• Liability of Investors/Promoters: Limited to the amount of investment/equity participation.
• Directors/Executive Officers: 1(one) or more
• Transfer of Share/Equity: In the case of KK, it can be transferred freely in principle unless it is stipulated in "The Articles of Association" that it requires the board of directors' approval. In the case of a GK, members' (Promoters /Investors) unanimous consent is required.
• Japan Resident: Not mandatory
• Registered Office: A local address and a telephone number in Japan are required for registration.
• Company Secretary: Not required
• Yearly Auditing of Accounts: Not mandatory

The time frame for registration: Please refer to the procedure's registration flowcharts
of Kabushiki-Kaisha (https://sarkaroffice.com/JP-KK-FC-Timeframe-0614.pdf) (KK) and Godo-Kaisha (https://sarkaroffice.com/JP-GK-FC-Timeframe-0614.pdf) (GK). Upon applying to the Legal Affairs Bureau for registration, obtaining the registration certificate takes about 2(two) weeks.

For further information, please get in touch (https://sarkaroffice.com/contact-us.html) with us by mail.

Photo:
https://www.prlog.org/13021437/1