Hi, I’m currently in a pickle and I’m not exactly sure how to go about this. I am having issues with dealing with income/expenses that come with owning a property in Japan without a bank account.
I’m a US/JP dual citizen and I plan to cancel my residency in Japan soon, which means that I will no longer have my jyusho registered. I will officially be a non-resident expat living in the US. After some research, if you don’t have a jyusho, you are obligated to close your bank account. I know some banks allow you to have non-resident services like Mitsui Sumitomo and UFJ Mitsubishi but most of them rely on the condition that you are coming back to Japan. Seems more appropriate for those who have a job relocation or studying abroad.
For me, I don’t plan to live in Japan, at least not for a long time. My life is in the US and I don’t think that will change anytime soon.
I also don’t plan to sell my property for personal reasons. I currently have a tenant living in there meaning that I have an income from the property. My local real estate agent helps me with managing property taxes and transferring the income to my JP bank account. I’ve kept my bank account open while living in the US for the past year and a half, by keeping my resident record in Japan while I was gone. I know I shouldn’t have left for that long while keeping the residency but I had to go back to the US for personal reasons.
I’m back in Japan right now for a month to deal with everything I have to do, I’m trying to do some research on how I can maintain my property without having a bank account. What is the best way to be able to receive and send money monthly?
All of the traditional banks seem to be out of the question, I’m trying to see if I can accomplish this by using Wise or something similar. I know I can send money using Wise using domestic transfers, but I’m wondering can I receive payments regularly too? I know Wise gives you the bank account information you can use to send yourself money, I’m thinking maybe my real estate agent can do the same.
Any insights into this would be much appreciated.
by kento726
