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Amendment Bill of the Foreign Exchange and Foreign Trade Act
Written by BCCJ
November 2, 2019
On October 18 2019, Japan’s Cabinet approved the Amendment Bill of the Foreign Exchange and Foreign Trade Act.
The Ministry of Finance says:
While respecting the principle of free investment, the Act requires prior-notification with screening for investment in certain business sectors designated from the standpoints of: national security; public order and safety; and smooth functioning of economy, as stipulated in the Act.
The Bill aims to:
– Further promote foreign direct investment (FDI) conducive to sound economic growth; and
– Ensure minimal review of FDI that could pose risks to national security.
Particularly, the Bill introduces exemption from the prior-notification requirement and adjusts the coverage of FDI.
Exemption from the prior-notification requirement)(PDF HERE)
Link (FAQs)(added on October 31, 2019)(PDF HERE)
Original post, from Ministry of Finance HERE
Thank you to all BCCJ members who have responded to these updates on foreign investment law and changes to the investment rules and procedures. Should any members have further comments, please email: [email protected]