What is real estate investment advisory business?

Updated: July 2026, 8

Real estate investment advisory business is a voluntary registration system established by the Real Estate Investment Advisory Business Registration Regulations for those engaged in discretionary investment business or investment advisory business related to real estate investment.

We mainly provide advice and guidance on real estate investment and act as an agent for transactions.

Registration as a real estate investment advisory business is not something that must be completed in advance before starting business, as is registration as an investment management business.
It is possible to operate as a real estate investment asset manager without registering.
However, from the perspective of handling customer assets, registration will increase credibility.

If you wish to register, you will need to apply to the Ministry of Land, Infrastructure, Transport and Tourism.

Real estate investment advisory business type

The real estate investment advisory business is divided into the following two types depending on the work performed.

While a general real estate investment advisory business only provides advice to investors, a general real estate investment advisory business entrusts assets from investors and conducts real estate transactions and operations.

I will explain each in detail.

1. General real estate investment advisory business

What is general real estate investment advisory business?Business that provides advice to customers regarding the value of real estate or investment decisions based on analysis of real estate value (investment advisory business)Refers to.
　
This is merely advisory and the final investment decision rests with the client.

Main registration requirements for general real estate investment advisory businesses

In order to apply for general real estate investment advisory business registration, you must meet the following requirements.

(1) Personnel and organizational requirements

Key employees (in the case of an individual, the applicant for registration and their key employees) must meet the following knowledge and experience requirements.

① Knowledge-based evaluation criteria

• Real estate consulting master, building management specialist, Association for Real Estate Securitization certified master, or real estate appraiser.
• Lawyer or certified public accountant with experience in real estate-related business

②Experience　

• Must have experience in investment decisions, advice, buying and selling, leasing, management, etc., related to real estate worth over 100 million yen (for a period of at least two years within the 10 years prior to the date of registration application)
• Important employees (in the case of individuals, the applicant for registration) are not engaged in the regular business of other corporations, etc.

⑵ Property requirements

The company must not have insolvent assets in its most recent financial statements.

② Comprehensive real estate investment business

Business in which the client entrusts all or part of the investment decision to the client and conducts real estate transactions, etc. based on the client's investment decision.AndBusiness of re-delegating entrusted business to investment trust management company or asset management company (discretionary investment business)and investment advisory services.

We entrust assets from investors and manage them through real estate transactions.

Main registration requirements for comprehensive real estate investment advisory businesses

In order to apply for general real estate investment advisory business registration, you must meet the following requirements.

⑴Company requirements

• A company licensed as a real estate broker
• Being a joint-stock company

⑵ Personnel and organizational requirements

・A "decision-making manager" must be appointed among the directors or key employees, and the decision-making manager must meet the following knowledge and experience requirements:
　① Knowledge-based evaluation criteria
　　・Qualified Real Estate Consulting Master/Building Management Specialist/ARES Certified Master/Real Estate Appraiser
　　・Lawyer or certified public accountant with experience in real estate-related business　
　②Experience
　　・Experience in investment decisions, advice, buying and selling, leasing, management, etc., related to real estate with a value of several billion yen or more
　　　(For a period of two years or more within the ten years prior to the date of application for registration)
　
・The representative and key employees (in the case of an individual, the registration applicant) are not engaged in the regular business of any other corporation
　
・A person in charge of the management department (legal compliance department) must be designated
　
・The person in charge of the real estate investment business (excluding real estate specified joint ventures) and the person in charge of the investment management department related to the discretionary investment business do not hold the same position. A system is in place to respond to inquiries about the asset management situation from customers in a short period of time.

⑶ Property requirements

• The financial results are good (the income and expenditure for the next three years is expected to be in the black)
• Capital of 5,000 million yen or more
• The amount of net assets must be maintained at a level not less than 5,000 yen for the next three years.

⑶Other

The following documents must be submitted:
　
　

• Documents detailing the status of management systems for discretionary investment management
• A document outlining the complaint handling system for discretionary investment management services, as well as complaints received over the past two years and the details of their handling

Registration location and required period

Registration for real estate investment advisory business is done with the Ministry of Land, Infrastructure, Transport and Tourism.
has jurisdiction overMinistry of Land, Infrastructure, Transport and Tourism, Real Estate and Construction Economics Bureau, Real Estate Market Development Division, Investment Advisory Business Section.

There are no registration fees or other fees required for application.

The period required for registration is1 to 3 months after documents are received by the Ministry of Land, Infrastructure, Transport and TourismIt is said to be moderate.

It will take at least two weeks to prepare the application documents, so you will need to work backwards from the time you plan to start your business.

Please note that for comprehensive real estate investment advisory businesses, a preliminary screening will be conducted before the actual application. (Screening period: approximately six months)

Post-registration procedures

Even after receiving registration as a real estate investment advisory business, you will still be required to submit annual business reports, notify any changes to your registration details, and complete renewal procedures.

1. Application for renewal of registration

Real estate investment advisory business registration is valid for a period of time after registration.5 yearsIf you wish to continue your business after the expiry date, you mustUntil 30 days prior, You must apply for renewal registration by.

For renewal registration, it is necessary to prepare almost the same documents as those for new registration.

② Notification of changes to registered information

Businesses registered as real estate investment advisors must notify the change within the deadline if there is a change in the registered matters of officers, etc.

The registration items that need to be notified of changes are listed below.

③ Submit business report

Real estate investment advisory firms registered with the company must submit a business report within three months of the end of their fiscal year.

　　　　　　　Person in charge: Junya Yamada