How non-residents can buy properties in Japan
Unlike many other countries, real estate in Japan can be purchased by people from any country. There are no land ownership restrictions, and foreigners can buy property in the same way as Japanese people.
1.How do you buy property in Japan?
(1) Select a property.
(2) Make a purchase application to the seller.
(3) The seller and buyer conclude a sales contract.
(4) Settlement is carried out in accordance with the method stated in the sale and purchase contract.
(5) A judicial scrivener carries out registration of ownership transfer.
(6) After possessioin, Pay property tax and, if there is income, file a income tax return and pay income tax, etc once a year.
2.The above is the process from property selection to possession.
Costs associated with real estate in Japan
Stamp fee: Stamp tax to be affixed to contracts and receipts
Broker's commission: property price x 3% + JPY 60,000 + consumption tax
Remittance fee: varies according to each financial institution
Registration fee: Registration and licence tax + judicial scrivener's fee
Real estate acquisition tax: Tax required when acquiring real estate.
Property tax, etc.: annual tax on property held by the owner.
Insurance:
Income tax, etc.: Taxes that have to be paid when there is rental income.
If you own real estate in Japan and generate rental income, you might be required to pay tax in Japan and must file an income tax return.
Our company has partnerships with tax accountants and lawyers who are are able to speak English. If you have any questions you would like to ask, we are always ready to help.
Contact us today to schedule a consultation.
Your future investment property or home are just a step away with HOKKAIDO PROPERTY.
HOKKAIDO PROPERTY Website: https://hokkaidoproperty.co.jp/
Phone: +81-(0)11-600-6182
Email: info@hokkaidoproperty.co.jp
