April 16, 2021 | less than a minute read

Japan Becomes A Global Financial Center in Asia?

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Arimi Yamada

Partner

Get in touch

Arimi Yamada

Partner

Financial Services Agency in Japan (FSA) announced on April 16 that all registration processes of UK asset management company has been completed only in English.

It was difficult for a non-Japanese company to complete all registration processes in Japanese ranging from pre-application consultation and registration to supervision after the registration. In order to be a global financial center in Asia, FSA set up Financial Market Entry Office designating handling all registration processes only in English.

According to their Japanese page, AI is also used for interpretation and translation purpose, thus, it is desirable to seek for Japanese professionals’ help. However, the English only registration procedure is a complete game changer for entering Japanese financial market.

As a part of the initiatives, the Financial Services Agency (“FSA”) and Local Finance Bureaus (”LFBs”) established the ”Financial Market Entry Office” (the ”Office”) on January 12, 2021, to handle all the regulatory processes from pre-application consultation and registration to supervision after the registration for newly entering asset management firms as a single point of contact with all the communications available in English.