US-citizen having permanently moved to Japan recently, all my assets are in the US, been looking into setting up asset protection in case of things like getting sued, which is very common in the states.
But is asset protection also a thing in Japan? Anyone set something up similarly or have thoughts to share? Would appreciate the help.
In the US, if my rental property goes on fire due to a bad circuit and tenant gets severely injured, or if I get into a bad car accident and other party is injured, or various things, people can easily sue you to try to take your assets, even when you have things like umbrella insurance since often those won’t cover the worst-case scenario amounts. Asset protection mitigates this by separating out your assets with various LLCs separate from the individual. Wasn’t sure if similar strategies exist in Japan.
by floxik