Advice on inward remittance from parents

Hi everyone,

I hope you’re all doing well! I have a situation and could really use some advice from those who might have experience or knowledge in this area.

I’m currently looking to buy a house in Japan and my family is helping me with an amount of ~20千万. However, I’m a bit confused about the legality and compliance issues related to inward remittance of this amount to Japan.

A bit about my background: I’ve been living in Japan for 4.5 years, and I’m not yet a permanent resident. I’m aware that there are specific tax regulations and procedures for large money transfers, especially when it comes to gifts and potential tax liabilities.

Can anyone share information about the compliance requirements I might be subjected to? Specifically, I’m looking to understand:

1.  The legal process for receiving a large sum as a gift from a parent.
2.  Any necessary documentation or declarations required for the inward remittance.
3.  Potential tax implications and how to manage them effectively.

Thanks so much for taking the time to help random people out on the internet! Your insights would be greatly appreciated.

Cheers!