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Kabushiki Kaisha is similar to the joint stock corporation in the U.S., and often used in setting up a business in Japan. Large scale corporations always choose KK because a variety of methods are available to gather investment (for example, stock options and convertible bonds). The representative elements of KK are as follows:
- ･Head office: Should be in Japan
- ･Capital: JPY1 or more (formerly, the amount of capital was limited to JPY10,000,000 or more, but there is no limit since May 2006)
- ･Business purpose: A company should register specific business purposes
in Japan, even if the parent company is allowed to do everything that is
legally allowed in its country.
- ･Officers: At least one director is required for KK. In case a KK intends to form a board of directors, at least three directors and one auditor are necessary. One or more of the directors should be representative directors, and at least one representative director should be a resident in Japan.
Flow of procedures for incorporating Kabushiki Kaisha (Incorporation without
Offering)
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| Determine the basic matters for incorporation (Company name, business purposes, location of head office, directors, auditors, etc.) |
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| Search for the same company name. If there is a company with the same name and address beside yours, you cannot establish a company at that place. |
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| Confirmation if prior notification is required under the Foreign Exchange Law |
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| Notarization of the Articles of Incorporation |
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| Payment of capital |
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| Receive a certificate of holding money issued by bank (some exeptions apply) |
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| Lodging the application with the Legal Affairs Bureau for commercial registration |
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| Completion of registration; acquisition of certificate of registration
and certificate of company seal |
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| Filing documents to relative authorities |
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Time required: about one month if prior notification to the Bank of Japan
is unnecessary.
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Copyright(C)2004-2009 Tadashi Ando. All Rights Reserved.
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