Japan LLP

The Japanese limited liability partnership (in Japanese the ‘yuugen sekinin jigyou kumiai’ and below the ‘LLP’) is a relatively new Japanese entity form that was introduced in 2005. The Japanese version of a limited liability partnership (LLP), is not a corporation, but a partnership formed only by the equity participants, who have limited liability.

LLPs may be formed for any purpose clearly stated in the partnership agreement, have full limited liability and are treated as pass-through entities for tax purposes.

A partnership must be established in partnership with an individual resident in Japan or a Japanese corporation, several documents need to be prepared in both Japan and the country of the foreign party.

 

Features of a Japan LLP

Japan LLP

Corporate Details

General

  • Type of Entity

 LLP

  • Registered Office in Japan

Yes

  • Shelf company availability

Yes

  • Our time to establish a new company

2 Months

  • Corporate Taxation

No

  • Access to Double Taxation Treaties

No

Share capital or equivalent

  • Standard currency

USD

  • Permitted currencies

EUR, USD, GBP, JPY

  • Minimum paid up

US$2

No

  • No-par-value shares allowed

No

Directors

  • Minimum number

One

  • Local required

No

  • Publicly accessible records

Yes

  • Location of meetings

Anywhere

  • Corporate directorship allowed

Yes

Shareholders

  • Minimum number

Two

  • Publicly accessible records

Yes

  • Corporate shareholders allowed

Yes

  • Location of meetings

Anywhere

Company Secretary

  • Required

No

  • Local or qualified

No

Accounts

  • Requirements to prepare

Yes

  • Audit requirements

No

  • Requirements to file accounts

No

  • Publicly accessible accounts

No

Other

  • Requirement to file annual return

No

  • Migration of domicile permitted

No

 

Advantages of a Japanese LLP

  1. It is not necessary to have board meetings.
  2. The responsibility of the membership is limited.
  3. Profit from LLP can be distributed according to voluntarily determined rate.
  4. Net loss from LLP can be deducted from individual members’ taxable income.
  5. It is suitable for starting up a small size business.

 

The Valsen Advantage

  1. Speedy, Efficient and consistent Services.
  2. Relentless effort to obtain bank accounts.
  3. Expert advice on structuring options.
  4. Dedicated ongoing compliance support.