☆ Foreigners are allowed to acquire real estate in Japan with no limitation on the number of properties.
☆ Purchasing land or a house in Japan does not grant the right of residence.
☆ Japan is a country with strict immigration controls. It maintains a conservative stance toward long-term residency for foreigners, including investment-based immigration.
☆ Japan issues long-term visas to foreigners in the form of Special Permanent Residency (for refugees or relatives of Japanese nationals, with stay periods ranging from 6 months to 5 years), Permanent Residency, and Naturalization.
☆ Real estate investment (such as home purchases) generally does not qualify one for a residence visa, unless you are employed in Japan, studying there, have established a company in Japan (with capital exceeding JPY 5 million) and employ at least two Japanese nationals, or are married to a Japanese national or permanent resident. Unless immigration laws change, foreigners may currently only stay in Japan for short-term visits not exceeding 90 days per entry.
☆ Following amendments to building codes in 1981, properties built after 1983 must meet a seismic resistance level of 7 or above, while those built before 1981 must meet a level of 5 or above.
☆ In Japan, compulsory insurance refers to fire insurance, not earthquake insurance.
☆ Mortgage Lending Banks:
For holders of Taiwanese passports:
Tokyo – Bank of Taiwan, Mega International Commercial Bank, CTBC Bank, Chang Hwa Bank, First Commercial Bank.
Osaka – Mega International Commercial Bank.
For holders of Hong Kong passports: Bank of China.
For holders of Chinese passports: Bank of China.
☆ Mortgage Requirements:
In Tokyo: Loans are generally available for properties valued at JPY 20 million or more and with a term under 30 years.
In Osaka: Loans are available for properties with a floor area of over 50 square meters and a term under 30 years.
☆ Documents required at contract signing: ID card, passport, personal seal (hanko), seal registration certificate, down payment, and revenue stamp (stamp duty).
☆ Documents required at closing (handover): ID card, passport, personal seal, family registry (with certified translation and notarization), remaining balance payment, and settlement of all related expenses.
☆ Documents required for mortgage application: Proof of income or tax payment certificate, or proof of assets such as savings or property, to demonstrate financial capacity to the bank.
☆ Regarding the carrying of cash: Travelers carrying more than the equivalent of USD 10,000 in cash when exiting Japan must declare it to customs. Failure to declare may result in confiscation of the undeclared excess amount; if the declaration is false, the amount exceeding what was declared may also be confiscated.