With the growing Japan property market, it’s no wonder why foreigners interested in overseas property investment are setting their sights on the country’s real estate industry. But can global investors really take part in buying property in Japan even without being a resident or owning a Japanese visa? The good news is that investing in real estate or buying a property in this country is something that can be easily done as long as you have the money.
No Holds Barred for Overseas Property Investments
Unlike many countries that set rules for overseas property investment, the Japan property market has no restrictions when it comes to foreign investors looking forward to investing in real estate. In fact, buying property in Japan is not that difficult as there are no government laws or regulations that prohibit or control purchases coming from foreign waters.
Japan Property Central also states that you will not even need a residence permit or a Japanese visa when investing in real estate. A property can be registered to any foreign address. Anyone can also purchase any type of property in the Japan property market. Buying or selling land banks, residential homes, condominiums, gold courses, buildings, resorts and even entire islands are legal and effortless for any foreign investor.
The lack of prohibitions in the Japan property market for investors is definitely an intentional move by the government as this is a way to attract property investment from buyers around the globe. Despite economic hurdles, the real estate sector continues to grow as more foreigners take part in it.
Compliance to Foreign Real Estate Regulations
However, according to Real Estate Tokyo’s guide for overseas properties, even though any overseas property investment is welcome, non-residents will still need to comply with regulatory laws concerning foreigners. Laws concerning the Japan property market are well developed as there are many regulations to prevent trouble. For example, after 20 days of property acquisition, a foreigner will be required to fill out a notification form to the Minister of Finance via Bank of Japan. They will also be required to have the law carefully check their property status, relationship of rights and other legal regulations before a being able to get a hold of any property investment.
Owned Property Does Not Equate to Residency
However, this freedom is only limited to the Japan property market. A foreigner buying property in Japan shouldn’t expect to be automatically given eligibility for a residence permit. A local property won’t qualify you either for a home loan in a Japanese financial institution as this would also need the permission for permanent residency. Thus, foreigners looking to live or work in Japan will need to separately obtain the necessary qualifications for residency.
With no prohibitions and regulations controlling who invests or what type of property you can invest in, the Japan property market is a great place to make profit from real estate. Yazhou Property connects you with Japan’s top developers, making overseas property investments much easier. Contact us or visit our Facebook page to know more about our services.