Essential Guide for Foreigners: How to Successfully Open a Bank Account in Japan for Real Estate Purchase and Rental

Wilson Estate
Jan 15
3 min read

Introduction: Why You Need a Japanese Bank Account

For foreigners starting a new life in Japan, opening a bank account is one of the most important steps. This becomes even more essential if you plan to buy or rent property, as a Japanese bank account is a key part of daily financial transactions.

Monthly rent payments, real estate purchase settlements, and future mortgage repayments are all typically handled through Japanese bank accounts. However, the process can be more complicated for foreigners compared to Japanese nationals.

This guide explains the steps and important points you need to know to open an account smoothly and proceed with real estate transactions confidently.

Main Challenges Foreigners Face When Opening a Bank Account in Japan

Foreigners often encounter three main challenges when trying to open an account.

1. The “Over 6 Months of Residence” Requirement

Many banks require customers to have been in Japan for more than six months, mainly due to anti–money laundering regulations. This requirement becomes a significant obstacle for those who need to set up their life immediately after arriving in Japan.

Some banks may allow account opening before six months, but available services may be limited or the screening process may be stricter.

2. Complex Documentation and Identity Verification

Banks require strict identity verification during the process. The key documents usually include :

Required Documents	Notes
Residence Card	Confirms visa type and period of stay.
Certificate of Residence (Jūminhyō)	Confirms your Japanese address.
Seal (Inkan) or Signature	Requirements vary by bank.
Others	Health insurance card, driver’s license, or additional ID may be required.

Because the details on your Residence Card and proof of actual residence are closely examined, careful preparation is crucial.

3. Differences in How Banks and Branches Handle Foreign Customers

Experience with foreign customers varies greatly depending on the bank and even the branch. Some branches handle foreign applicants efficiently, while others may take longer or experience communication issues.

Although multilingual support has improved in recent years, the quality of the in-person service ultimately determines how smooth the process will be.

Three Steps to Successfully Open a Bank Account

To overcome these challenges, consider the following steps.

Step 1: Choose a Bank Familiar with Serving Foreign Customers

Not all banks follow the same rules. The following institutions tend to be more foreigner-friendly:

Online banks: Often simpler requirements and no in-person procedures
Major banks: More accustomed to international customers, with multilingual support
Banks like Seven Bank: Convenient and proactive in providing services to foreigners

In addition, services like Wise can serve as an alternative for non-residents who need international money transfers without a Japanese bank account.

Step 2: Prepare All Necessary Documents Thoroughly

Document issues are the most common cause of delays.

Ensure your Residence Card and Certificate of Residence have updated information
Any simple seal (inkan) is acceptable, and some banks allow signatures instead
Prepare a Japanese phone number and email address where you can be contacted

Step 3: Clearly Explain That Your Purpose Is Real Estate–Related

If you were introduced by a real estate agency or you’re opening the account for a real estate transaction, tell the bank staff. Clear explanation of the purpose and source of funds often leads to smoother processing.

Why a Japanese Bank Account Is Essential for Real Estate Transactions

A Japanese bank account plays a crucial role not only in daily life but also in real estate procedures.

For Buying Property

Settlement for property purchases is usually done via domestic bank transfers. Using international transfers can cause unpredictable delays, affecting key dates such as handover. Having a Japanese account allows you to prepare funds domestically and complete the process smoothly.

For Rental Contracts

Most rental properties require monthly rent payments through automatic bank withdrawal 8. Without a Japanese bank account, you may face extra work each month—or in some cases, you may not be able to sign the contract at all.

Conclusion: A Key Step Toward Comfortable Living and Successful Real Estate Transactions in Japan

Opening a bank account in Japan may seem challenging for foreigners, but with the right knowledge and preparation, it is entirely achievable.

A bank account is the foundation for both secure daily life and smooth real estate transactions.

Our real estate company provides full support not only in finding properties but also in giving advice on opening bank accounts and introducing partner banks. Please feel free to contact us if you have any questions.