Has move to Japan ever crossed your mind? Many international workers are attracted to the nation by its seamless fusion of culture and modernity, as well as its stunning natural surroundings and good earnings.
The difficulty of obtaining a work permit and visa for Japan may soon change.
The nation is trying to entice international labor and investments in the aim of enhancing its economy and competitiveness.
By leveraging the weak yen as an incentive, it has set an aim of attracting 100 trillion yen (€669 million) in foreign direct investment by 2030. According to Reuters, this is around twice as high as its 2022 goal and 20% more than its previous goal.
The goal of the plan is for the nation to grow into Asia’s largest startup hub, increase production and research, and draw in highly qualified foreign workers.
Why does Japan aim to entice workers from abroad?
Japan’s population is aging, much like that of many European nations. The International Monetary Fund estimates that by 2060, there will be almost one elderly person for every person of working age in the nation.
Because of this, there is a labor shortage in the nation, which is already beginning to have an impact. It will be detrimental to the economy in the long run.
Japan must turn outside of its borders for people who want to move to Japan to fill this gap if it is to achieve its ambitious growth goals.
There are about 1.8 million foreign employees in Japan. In order to meet goals, it will need to increase this to approximately 7 million by 2040, according to a research from the Japan International Cooperation Agency (JICA) from 2022.
In the wake of the pandemic, Japan has streamlined its visa criteria for highly qualified workers in an effort to become more competitive.
What changes are being made to Japan’s visa policy for people who want to move to Japan?
If they meet specific requirements, certain overseas employees may be allowed to avoid the existing points-based visa system starting in April of this year. Additionally, they will be qualified for permanent residency after just one year rather than three.
According to the Japanese daily newspaper The Mainichi, this applies to researchers and engineers who earn at least 20 million yen (€134,000) annually and have either a master’s degree or ten years of professional experience. Corporate managers must earn at least 40 million yen (€268,000) annually and have five years of experience to be eligible.
Under Japan’s “start-up visa,” entrepreneurs hoping to launch a firm may also be permitted to stay for longer than a year, though specifics are not yet known.
Japan will target recent foreign graduates.
According to The Mainichi, Japan also wants to entice graduates from the top 100 universities in the world.
The nation will grant these young workers residency status based on their “designated activities,” positioning them as “future creative talent.” They would be able to stay and work in the nation for two years while looking for employment and business opportunities.