How to Open a Corporate Bank Account in Japan

Opening a corporate bank account in Japan is the next step after company registration. It's a process with strict rules, and getting it wrong costs you time.

You can technically use your personal bank account for business purposes. However, most accountants advise against it and recommend a separate corporate account instead.

Although a business bank account isn't legally required to do business in Japan, it still carries real benefits.

For example, corporate account builds trust with lenders if you apply for a loan or business subsidy. It also gets you a company credit card, clearer business finances, and more credibility with customers and vendors.

A separate account also keeps your business finances apart from your personal finances. This protects your personal assets and simplifies your tax filing at the end of the year.

This article covers the documents you need, why banks refuse applications, common mistakes, a step-by-step guide, what to do if you're rejected, and answers to common questions about opening a corporate bank account in Japan.

Documents to prepare when opening a corporate bank account

Forewarned, forearmed. Here is what you will need to prepare to open your account successfully. 

• Error-free completed application form

• Photocopy of the business owner (director/representative's) ID; *if someone is assisting with the application process, then that individual's ID will also be requested

• Personal seal (hanko) of the director/representative

• Certificate of company's seal 

• Articles of company incorporation (tohon)

• Business plan of the corporation to prove the company is operating

Banks also want proof that your business operates from a real, physical office. A lease agreement or utility bill in your company's name is common evidence.

Note: Some banks require less documentation. Others require more. Each bank has its own guidelines on what to submit, but this is a standard list.

Which banks work with foreign-owned companies?

Major banks like Mizuho Bank, SMBC, and MUFG all offer corporate accounts, but each applies its own standards. Requirements and fees vary even within the same bank.

Japan Post Bank and some digital-first banks tend to have more flexible requirements for non-resident directors. This isn't guaranteed, and policies change, so confirm directly with the bank before applying.

What does a corporate account cost?

Opening a corporate account isn't free, and it doesn't stay free after opening either. Budget for these costs:

• Initial deposit. Many banks require an initial deposit to activate your account.

• Opening fees. Some banks charge a fee just to process your application.

• Monthly maintenance fees. Most corporate accounts carry an ongoing monthly cost, which varies by bank and service tier.

• ATM withdrawal fees. Withdrawing cash, especially from another bank's ATM, often carries a small fee.

Some banks waive monthly fees if you maintain a minimum balance. Ask about this directly, since it isn't always advertised upfront.

Check each bank's current requirements and fees directly before choosing where to apply.

Factors for refusal when opening a corporate bank account

Banks can refuse your application even with a complete, error-free form. Each institution sets its own criteria, and the bar is high across the board.

The most common reasons for refusal

According to Freee, a platform serving small businesses and sole proprietors in Japan, banks often refuse accounts for these reasons:

• The company's capital is too small

• The listed phone number is a mobile line, not a landline

• The business has no official website

• The company has no contracts, invoices, or receipts to show

• The company's business goals are unclear

The residency issue banks rarely explain upfront

Most Japanese banks also require your representative director to be a Japan resident with a valid visa. This applies even if your company is fully registered in Japan.

Banks run strict anti-money-laundering (KYC/AML) checks on every new corporate account. A non-resident director, alongside weak documentation, is one of the most common reasons foreign-owned companies get turned away.

Some banks weigh one factor heavily and ignore the rest. Use this full list as a checklist, and address each point before you apply.

Banks often don't explain why they refused your application. Don't expect a detailed reason, and don't take a rejection personally.

Account opening has also gotten harder in general. Since around 2019, Japan has tightened its anti-money-laundering enforcement, and banks now apply stricter checks across the board.

A step-by-step guide for opening a corporate bank account

Here is a summary of all the points that were discussed in this article. Use this checklist to help you chart a path to opening your company bank account in Japan. 

Step 1: Audit your business.  

Ensure your business has a clear online presence, a landline phone number, enough capital, a clear company business plan, and proof of doing business (invoices, receipts, etc.). Also confirm your representative director has Japan residency status and that you can show proof of a real physical office. If your business lacks in any of these areas, focus on improvements before applying to open a business bank account.

Step 2: Prepare your documents. 

Apply for and gather all the documents you will need for the initial application. Refer to the bank's website for its specific requirements, which often include a photocopy of the director/representative's ID, the director's personal seal, the company's seal certificate, articles of incorporation, a business plan, and proof of your physical office, such as a lease agreement or utility bill.

Step 3: Fill out and send in your application form. 

The application form will likely need to be filled out in Japanese. Fill out the form and make sure all the correct documents are included. 

Step 4: Wait for approval. 

The bank screens your documents first. This step typically takes 1 to 2 weeks.

The bank may then request an in-person appointment. Expect the full process, from application to a working account, to take 4 to 8 weeks in total, longer if your business has a complex ownership structure or operates in a high-risk industry.

Step 5: In-person appointment at the bank. 

After the document screening, the bank will ask you to come in for an appointment. You will need to bring your company's articles of incorporation, your company seal, the director's seal, and the director's ID. At this point, the bank may ask you a few questions regarding your business, so it's best to be prepared to give an eloquent explanation of your business' mission. If you need language support, such as an interpreter, that individual will need to bring a photo ID. 

Step 6: Banking documents are sent to your registered address.

The process will be complete once the banking documents (cash card, passbook, contract, and other related banking documents) arrive at your business' registered address. Congratulations! You now know how to open a corporate bank account in Japan. 

Mistakes to avoid when opening a corporate bank account

Opening a business bank account in Japan can feel grueling. Even native Japanese business owners routinely find this experience brutal, proven by the numerous articles (in Japanese) on this topic. 

The following list has been collected from recent first-hand experiences when opening corporate bank accounts in Japan. Read it to learn what not to do. 

Mistake #1: Not submitting the proper documents. 

Each banking institution will have its own list of what must be included when filing to open a corporate account. Refer to each bank's official guidance on the matter. 

Mistake #2: Mismatch of name on the application with the name on the tohon. 

For opening corporate bank accounts, the representative/director's name on the bank application must be an exact match for the one on your company's articles of incorporation (tohon).

The following is an example of what will be refused. 

• ドウ ジョン　on tohon 

• ドー　ジョーン on the application 

Katakana is a phonetic alphabet, and occasionally foreign names can be open to creative pronunciations, dependent on the person doing the writing. However, whatever is first listed on the tohon, must then be listed on the application. 

Mistake #3: Using a computer to fill out the form. 

For the most part, applications for corporate accounts must be handwritten. Even if you receive a PDF copy of the application form, unless specified otherwise, the standard method you are expected to follow is to print out the files and then handwrite your application entries and mail in your documents via the postal service. 

Mistake #4. Erasing an error with white correction fluid.

The correct way to fix a mistake is to strike-through the error twice. And then, in whatever space remains, write out the correct text and add your seal next to the corrected text. Don't use whiteout.

Mistake #5: Stamping your seal in the wrong place. 

English language contracts will often have two spaces for both parties to sign. Similarly, Japanese application forms will have two spaces for seals (hanko). One space will be for you, and the other space will be for the bank. Don't use the wrong space. 

Mistake #6: Not using the correct seal in your forms. 

When filing for other banking services, such as the online banking application, use the same seal you used to open an account. For your business account, always stamp with the same hanko (銀行印) you registered when you created your account.

Mistake #7: Using the wrong display name in your application. 

For most of the bank forms, the name display should be "company name + title + name." 

For example: 株式会社　代表取締役　ドウ ジョン

👉Read also: Franchise Opportunities in Japan: Guide to Business Success

What if your corporate bank account application is rejected?

Rejection isn't the end of the road. Several paths forward exist for businesses that don't qualify with a traditional bank.

• Apply to a different institution. Each bank sets its own rules, so a rejection at one bank doesn't guarantee rejection everywhere.

• Consider Japan Post Bank or a digital-first bank. These institutions sometimes offer more flexibility for foreign-owned companies or non-resident directors.

• Look into fintech alternatives. Services like Wise Business let eligible companies receive, hold, and send yen without a traditional Japanese corporate account.

• Fix the specific issue first. If a bank cited a specific reason, such as unclear business goals or missing documentation, address that gap before reapplying anywhere.

A rejection often points to one fixable problem, not a dead end. Identify the reason, and try again with a stronger application.

Frequently asked questions

Do I have to open my account at the bank branch nearest my office address?

Not always, but it's common practice. Many banks prefer or require you to apply at the branch nearest your registered office address, so check with your chosen bank first.

Can a company without a resident director open a corporate bank account?

It's difficult, but not always impossible. Most major banks require a Japan-resident director, though Japan Post Bank and some digital-first banks may offer more flexibility.

Is an in-person appointment always required?

In most cases, yes. Banks typically require an in-person meeting to verify your documents and ask questions about your business.

What happens if my bank account application gets rejected?

You can apply to a different bank, consider Japan Post Bank or a fintech alternative, or fix the specific issue the bank flagged before reapplying.

In closing

It can be downright maddening if you receive a refusal letter or get your application rejected for the fourth time in a row.

The procedures must be followed closely, and all applications must be submitted in Japanese.

Want us to help you make sure you get it right the first time? Book a free consultation with MailMate—we provide assistance and counseling on a wide range of official services in Japan!