Financial subsidy support

Updated: July 2024, 3

Our company supports applications for subsidies for the Tokyo Metropolitan Government's ``Subsidy for establishing financial foreign company bases''.

• I want to apply for a subsidy, but I'm not sure
• I don't have time to prepare application documents
• I would like to proceed while consulting with you.

If any of the above check items apply to you, please feel free to contact us.

◆For those who want to obtain a gold trading license◆

The compensation you receive when you request our services will be eligible for the subsidy.

*Click here for details

table of contents:

・Overview of “Finance-related foreign company base establishment subsidy”

・Points to note when applying (common deficiencies)

・Notes regarding application forms and attached documents

・Frequently asked questions (FAQ)

"“Subsidy for establishing a base for a financial foreign company”Overview of

✓ What is “Subsidy for establishing a financial foreign company base”?

The "Subsidy for establishing a foreign financial company base" (hereinafter referred to as "this subsidy") is a grant that allows foreign financial companies (foreign corporations operating asset management or Fintech businesses) to establish a new base (or establish a Japanese corporation) in Tokyo. This is a system that supports part of the expenses necessary for establishing a Japanese company or establishing a branch office in Japan.

✓ Subsidy rate/maximum amount

Subsidy rate: Within 2/1 of the subsidy eligible expenses (calculated subsidy amount is rounded down to the nearest XNUMX yen)

Upper limit: 7,500,000 yen (issued in yen)

✓ Process until subsidy issuance

✓ Subsidy recipients

Those eligible for this subsidy must meet all of the following requirements.

Please make sure that you meet all requirements before applying. (Apply only once)

[Requirements for “foreign financial companies” expanding into Japan]

• ① A foreign financial company expanding into Japan is established under foreign law to operate an “asset management business” or a “Fintech business.”　

be a legal entity

• ②Foreign financial companies expanding into Japan may contact Business Concierge Tokyo and

Have consulted with the Tokyo Metropolitan Government in advance.

• ③The foreign financial company has not established a base in Japan prior to establishing a base related to this subsidy.

[Requirements for “Japanese corporations, etc.” established in Japan]

• ①A foreign financial company that is expanding into Japan within the same year as the year in which this subsidy application is made* must be a Japanese corporation that has established a base (*) or a Japanese branch office in Tokyo.

*The term "year" here refers to the fiscal year adopted by the Tokyo Metropolitan Government (starting on April 4st).

• ②The “main business content” of the Japanese corporation, etc. has any of the functions listed below.

A Asset management company

Functions recognized by the Tokyo Metropolitan Government as highly contributing to the economic revitalization of Tokyo, such as securities management bases or sales and sales bases.

B Fintech companies

Functions recognized by the Tokyo Metropolitan Government as highly contributing to the economic revitalization of Tokyo, such as research and development bases or sales and sales bases related to the provision of innovative financial services that make full use of IT technology.

• ③ One or more employees (persons insured by employment insurance) are employed on a full-time basis.
• ④In the case of a Japanese corporation, the ratio of investment from foreign financial companies is one-third or more.

[Common requirements for “financial foreign companies” and “Japanese corporations, etc.”]

• ① There is no fact that there is a violation of laws and regulations.
• ② Not in arrears with tax payments
• ③There is no violation of contracts with public institutions, etc.
• ④There is no risk of threatening public safety and welfare.
• ⑤The business purpose is not political activities, religious activities, or election activities.
• ⑥ Does not fall under an organized crime group, or is a representative, officer, employee, or other employee of a corporation or other organization

There are no members who fall under the category of organized crime group members, etc.

• ⑦ There is no fact that the Tokyo Metropolitan Government deems the person unsuitable for assistance due to past work or other circumstances.

✓ Expenses eligible for subsidy

The subsidy is applicable to financial foreign companies and applicants who apply for the subsidy after the date of prior consultation with the Tokyo Metropolitan Government and between April 4st of the fiscal year in which the subsidy is applied for and the subsidy application date. (Japanese corporation, etc.) receives services, etc. and pays the following expenses in conjunction with the establishment of a base.

(Precautions)

・Expenses that do not fall under the category of service provision, such as taxes, revenue stamps, etc. paid to government offices, are not eligible.

・Expenses that are eligible for other public subsidies/subsidies are not eligible.

- Subsidy-eligible expenses paid by either the "financial foreign company" or the "applicant (Japanese corporation, etc.)" are eligible.

　However, even if the expenses were paid by a foreign financial company, the applicant for the subsidy is still a "Japanese corporation, etc."

・In the case of a Japanese business, the party to whom recruitment expenses are paid is a paid employment placement business, as defined in Article 30 of the Employment Security Act.

In the case of an overseas business, the business must be a "business that has received notification, permission, declaration, etc. in the country of the business concerned" .

✓ Other notes

• Those who receive a subsidy will be required to comply with the following for a period of two years after the end of the fiscal year at the time of establishment (until the last day of the second year following the fiscal year at the time of establishment; hereinafter referred to as the "Obligation Period"). shall be obligated to.

① Obligation to continue business in Tokyo

　　During the obligation period, businesses must continue to operate within Tokyo.

② Obligation to report business activities for each fiscal year (Form:No. 7 style）

A business activity report for each year during the mandatory period must be submitted. (Until June 6th of the following fiscal year)

③ Obligation to notify changes such as change of representative/address (Form:No. 8 style）

　　During the obligation period, the name, location, and representative of the person receiving the grant (in the case of a branch, the representative in Japan)

If there are any changes or other circumstances that make it impossible to meet the issuance requirements, please submit a change notification immediately after the change.

must be submitted.

• If you receive a subsidy, your company name, details of the subsidy, etc. may be made public.

• Even if a subsidy is received, if the subsidy is received by deception or other illegal means, or if there is a violation of laws or regulations or a violation of business continuity obligations, the grant decision will be canceled in whole or in part, and the subsidy will be discontinued. You may be required to return the money.

Points to note when applying (common deficiencies)

✓ Have you cleared all the requirements for “subsidy recipients”?

• “Foreign financial companies” expanding into Japan are now required to “enter Japan for the first time.”

If a financial foreign company has expanded (established a base) anywhere in Japan, not just Tokyo, before establishing a base related to this subsidy, it will not be eligible for the subsidy.

It is necessary to consult with the Tokyo Metropolitan Government in advance.

If the registration of establishment of a Japanese corporation, etc. has already been completed at the time of the preliminary consultation, this will not apply.

• The "Japanese corporation, etc." applying for the subsidy must be a "Japanese corporation" that has registered its establishment under the Japanese Commercial Registration Act, or a "Japanese branch" that has registered the establishment of a foreign company's business office. is.

Representative offices, etc. that are not registered under Japan's Commercial Registration Act are not eligible.

✓ Has all “base establishment” been completed?

• A “Japanese corporation, etc.” applying for a subsidy must have completed all “establishment of base” at the time of application. "Establishing a base" means that all of the following steps have been completed: (1) Securing an office, (2) Registration of establishment, etc., (3) Hiring full-time employees, and (4) Starting main operations (including obtaining a license).

• For "① Securing an office", in addition to a regular office, it is necessary to secure a space in Tokyo that can be used at all times (work can be done), such as a private shared office.

"Virtual offices", "shared coworking spaces", "home", etc. are not eligible.

• In "② Registration of establishment, etc.," the registration of establishment, etc. of a "Japanese corporation" or "Japanese branch" is completed based on the Japanese Commercial Registration Act, and at the time of application, the "commercial register copy (historical matters)" of the Japanese corporation, etc. is completed. All certificates must be submitted.

For "③ Employment of full-time employees," Japanese corporations, etc. must permanently employ employees who fall under any of the following (limited to those insured under employment insurance).

[Cases that are not recognized as “employment of full-time employees”]

× If you are employed by a foreign financial company rather than a Japanese corporation, etc.

× If the person is not an employee but an outsourcer, such as an “advisor”

× If you have concurrent jobs and are not insured by employment insurance at the Japanese corporation, etc.

• For "④ Start of main business (including license acquisition)", it is necessary to complete the acquisition of the license necessary for starting the main business. For example, in the case of an "asset management company," the license for financial instruments trading business (investment management business, investment advisory/agency business, etc.) based on the Financial Instruments and Exchange Act has been completed (= registration notification has been received and registration has been completed). (numbered) is required.

✓ Is “subsidized expenses” appropriate?

• The subsidy is applicable to financial foreign companies and applicants who apply for the subsidy after the date of prior consultation with the Tokyo Metropolitan Government and between April 4st of the fiscal year in which the subsidy is applied for and the subsidy application date. Expenses paid by (Japanese corporation, etc.) in response to the provision of services, etc. (1) Consultation costs with experts, XNUMX) Human resources recruitment costs, XNUMX) Initial office costs.

[Cases that are not recognized as “subsidy-eligible expenses”]

× Expenses other than “① Consultation expenses with experts, etc. ② Human resources recruitment expenses ③ Office initial expenses”

　　　(Example of failure) Purchase cost of office equipment such as office PC, refundable office deposit, etc.

× Expenses whose details cannot be confirmed

× Expenses received or paid for services etc. “before” the preliminary consultation with the Tokyo Metropolitan Government

× Expenses where the date of provision of services, etc., date of invoice, and date of payment are not in the same year as the subsidy application

× Expenses that do not fall under the provision of services, such as taxes, revenue stamps, expenses paid to government offices, etc.

× Expenses covered by other public subsidies/subsidies

× Expenses for which it cannot be confirmed that services related to establishing a base have been received, such as monthly advisory fees

× If the party to whom you paid the recruitment expenses does not have the necessary permissions and approvals.

✓ Are the necessary steps performed in the correct order and timing?

• Basically, the steps required to receive the subsidy must be taken in the following order and timing.

For example, if "2. Center establishment" is completed before "3. Preliminary consultation with the Tokyo Metropolitan Government" or "If the grant application is not made within the same year as the center establishment", there are cases where necessary procedures are not completed. If you do it in the wrong order or at the wrong time, you will not be eligible for the subsidy.

In particular, if the establishment of the base is completed at the end of the fiscal year (e.g. around February or March), the grant application must be submitted by the end of the fiscal year (March 2st) or it will be ineligible for the subsidy.

Points to note regarding application forms and attached documents

1 At the time of preliminary consultation

Foreign financial companies that intend to use this subsidy are required to consult Business Concierge Tokyo and then the Tokyo Metropolitan Government before finalizing plans to establish a base.

First, please consult Business Concierge Tokyo (consultation address: financial-desk@bdc-tokyo.org) and prepare the following documents.

After completion, please submit it to the Tokyo Metropolitan Government via Business Concierge Tokyo, arrange a schedule for a preliminary consultation (conducted online, etc., with a Business Concierge Tokyo consultant also present), and conduct a preliminary consultation.

[Notes on writing (prior consultation)]

2 At the time of application for issuance

This subsidy is applied for by Japanese corporations, etc. (hereinafter referred to as "applicants") who are eligible for the subsidy after establishing a base after consulting with Business Concierge Tokyo and prior consultation with the Tokyo Metropolitan Government.

Please prepare the application documents in Japanese. In addition, an application can be made at any time for the fiscal year in which a financial foreign company establishes its base (once only).

When applying for issuance, please prepare and submit the following documents (in principle, by mail).

[Issue application documents]

[Notes on writing (business summary)]

[Notes on filling (application form)]

　・After carefully checking that the expenses you are applying for meet the requirements for eligible expenses, please enter the eligible expenses as shown below.

Please write down the details, breakdown, amount, etc. of the expenses so that they can be understood.

　　Example) If you paid 100 million yen as legal consultation fees to a lawyer.

  *The expenses to be applied for do not include consumption tax. In addition, if you paid the subsidy-eligible expenses in a foreign currency, please convert them into Japanese yen using the "median trading market midpoint (foreign exchange official market rate)" on the day of payment.

[Attached document]

(Precautions)

　・All application documents (excluding attached documents) must be prepared and submitted in Japanese.

　・If any of the submitted documents is in a language other than Japanese or English, please attach a translation in Japanese or English.

　・For certificates issued by public institutions, submit the latest one issued within 3 months at the time of application (reception).　

　・Submitted documents will not be returned. Please be sure to keep a copy so that you can confirm the details of your application.

　・In addition to the above required documents, you may be required to submit contracts, invoices, etc. as necessary.

Common Questions

A: Foreign financial companies wishing to utilize this subsidy must consult a business concierge before establishing a base in Japan.

It is necessary to consult with Tokyo and the Tokyo Metropolitan Government in advance.

If you have not consulted in advance and the registration of establishment of a Japanese corporation has already been completed, you will not be eligible.

　　In addition, for Japanese corporations established in Tokyo by foreign financial companies, if 2 to 3 years have passed since establishment,Financial foreign company business infrastructure support subsidy” may fall under another Tokyo subsidy.

This "financial foreign company business infrastructure support subsidy" is a system that subsidizes a portion of the expenses necessary for promoting growth of Japanese corporations that have recently been established in Tokyo by foreign financial companies. is.

[Financial foreign company business infrastructure support subsidy]

A: This subsidy is available to foreign financial companies and applicants (Japanese corporations, etc.) upon establishing a base.

Expenses paid in response to the provision of services, etc.

In the case of monthly advisory fees, they may be incurred even when services are not provided, or may be unrelated to the establishment of the base.

There is a possibility that consultation services, etc. are included.

Expenses that cannot be confirmed are likely to be excluded in whole or in part.

A: No.

　 This subsidy accepts applications for "expenses that have already been paid" after the fact and subsidizes a portion of those expenses. Please note that even if the expenses are eligible for subsidy, the foreign financial company or applicant (Japanese corporation, etc.) must make the payment and then apply for the subsidy.

A: This subsidy is applicable “after the date of prior consultation with the Tokyo Metropolitan Government” and “April 4st of the fiscal year in which you apply for the subsidy.”

to the date of application for subsidy issuance”, financial foreign companies and applicants (Japanese corporations, etc.)

Expenses “provided” and “paid” (expenses such as consultation with experts / human resources recruitment expenses / office initial expenses)

.

For example, in the following cases, if you receive services, etc. and make payment during the period marked "(*)",

The expenses incurred will be subsidized. Expenses for which services were provided or paid in previous years are not eligible for subsidy.

In addition, for example, if you have been receiving services, etc. not only during the period of "(*)" but also continuously from the previous year, basically, the services, etc. will be provided during the period of "(*)". Only the portion that was provided and paid for will be eligible for subsidy. In this case, you may be required to separately submit documents that can confirm the details of the services, etc. you received during the period marked "(*)" and the amount and range of compensation for those services. The subsidy will be paid in yen to your Japanese bank account approximately one to two months after the grant is decided.

A: In this subsidy, "establishing a base" refers to completing all of the following steps: (1) Securing an office, (2) Registration, (3) Securing full-time employees, and (4) Starting main operations (including obtaining a license). Says.

　If the establishment of a base is completed by acquiring an investment management business license, it is possible to apply for this subsidy within the same fiscal year based on the time of acquiring the license (= date of establishment of the base). (However, it is assumed that all other requirements etc. are cleared)

A: Forms 2 to 4 can only be submitted in Japanese, but advice regarding their preparation can be provided in English. First, please contact our business concierge (financial-desk@bdc-tokyo.org).