I used to reside in Japan but no longer, now I just visit for a few weeks each year. When living in Japan I established a brokerage account at one of the large stock companies. The account is still active and sends statements to my address outside Japan. I haven’t traded in this account since leaving Japan but I was told that I must be a resident with a resident-certificate in order to trade.
When I was last in Japan, I visited the retail brokerage office and tried to get clarification about this. I figured this would have been a simple yes/no answer with a reference to the specific regulation or law. The clerk at the office of the major brokerage didn’t have a clue but took down my questions. After waiting 45 minutes, I had to leave and they still couldn’t answer the question of whether I can trade in my account without being a resident.
I thought there may be some grey area requirement but no hard and fast rule about residency and trading and Japanese brokerages discourage and prefer non-residents do not trade on their accounts. If this were the case maybe I could have my stock account transferred to a foreign brokerage or bank that is less concerned about grey-area regulations and would permit me to trade without being a resident.
Any guidance or insights on this matter. of former residents trading in accounts at Japanese brokerage?
Thanks.
by Equivalent_Rule_770