Banks are the place where money is saved for future purposes
It is a financial institution that accepts money for people for lending and investment and also withdrawal which can be done by cash, check, or a draft.
Banks can be used by individuals, a group of people, or businesses. Banks in all countries in the world operate business bank accounts, but we will be focusing on business bank accounts within Japan.
The Bank of Japan has been operating since 1882. Fast forward to today, there are so many banks in Japan that use sophisticated ways of banking and many Japanese banks are among the top twenty banks in the world.
Individuals who want to start a business in Japan wonder if they should use their bank accounts for their businesses or not. The most advisable thing is to open a business account since this will be where the payroll, sales, and many other business expenses need to be processed.
Many believe opening a business bank account in Japan is difficult. This is not true, and it is easier than you think. There are some requirements that you need to follow.
BUSINESS BANK ACCOUNT REQUIREMENTS
First, you will need to get an application from the bank.
Second, you will need to get a local company registration certificate and articles of incorporation for your business.
Don’t forget you also need the physical registered branch seals and registration certificate!
Lastly, you will need proof of identification of the person(s) who is applying. For example, you and your business partners.
All these requirements are needed to make sure you are serious about opening a business bank account in Japan. Other requirements include your business profile, your latest bank account statement, the lease agreement, and probably your passport. If you have all these, you are good to go.
If your business is the type that involves clients who live abroad, then you need to know about Payoneer.
Payoneer is a financial online service that allows you to get paid by clients and business partners anywhere in the world. It offers quick, low-cost, easy and very secure ways to get paid on a global scale.
The service has over four million customers around the world. There are other ways of making transfers and receiving transfers on a global scale, but none of them are as good as this particular service. The payment cost is low and you can easily access your funds anywhere. No matter your language, you also have the opportunity to speak your language to customer care agents if you have any questions.
You can easily provide your clients with local JPY accounts and get paid easily as if you were having a local bank account. Finally, you can easily withdraw payments from your Payoneer account to your local bank in Japanese currency and also withdraw your funds at any ATM service anywhere in the world. You can do this through a special Payoneer card that can also be used to make purchases online.