According to The Nikkei Asia, Japan plans to let foreign entrepreneurs live in the country for two years without a place of business or investment, Nikkei has learned, looking to help them get their business off the ground by easing residency requirements.
The move marks Tokyo's latest attempt to energize Japan's economy with an injection of international talent.
Current rules require foreigners to secure a place of business and at least two full-time employees or an investment of 5 million yen ($33,000) to qualify for business management residency.
The investment requirement is daunting for fledgling companies that may not even be profitable. A two-year grace period would let owners focus on growing their businesses.
"Big Japanese corporations have not lost their appetite for investment, so startups have prospects for attracting funding" in Japan, said Yuma Saito, president of Deloitte Tohmatsu Venture Support.
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