I've read a lot of posts and articles, but have a few questions that may be scenarios not exactly covered in prior ones. Could you help verify any of this, please?
Current status – US Citizen moving to Japan later this year under Business Manager Visa
Background:
To qualify for HSP Business Manager – I plan to open a separate business bank account in the US and seed my company with at least $150k USD and pay myself in Japan (after opening a Japanese bank account) this salary over 12 months. This, combined with US and Japan-sourced consulting work should meet the 25-30M JPY threshold for more points.
As I understand it, I will be taxed on this if I send the money from the US (approximately $12.5k USD per month) to Japan as my salary. That's fine and acceptable.
The business consultant I'm working with (scrivener/lawyer) is recommending I move all the money to Japan (presumably after opening a small account there) and pay myself from that account (Japan bank business account to my Japan bank personal account monthly). I want to ensure I'm not taxed on the initial remittance AND the monthly distributions to myself.
Question:
My understanding is that remittances of my own personal money to my account in Japan should not be taxed.
However, I did have non-Japan sourced income this year (trading, dividends), so I feel like this would fall into a taxable remittance. Is this correct?
Is there a more favorable way to set this up?
by TechInitiative
