Accepting financial institutions from Hong Kong To study environment improvement Government 3:48, September 3

With the enforcement of the "Hong Kong National Security Act," there is a view that financial institutions will move from Hong Kong, which is said to be one of the leading financial centers in Asia.

In order to accept these financial institutions, the government has decided to consider improving the environment, such as English administrative procedures.

Hong Kong is home to major financial institutions in Japan and Europe and is said to be one of the leading financial centers in Asia.



However, there is a view that financial institutions will move to other countries as the enforcement of the “Hong Kong National Security Act” will affect the free business environment.



Japan is a candidate for relocation along with Singapore and other countries, but it has higher tax rates such as income tax and language issues compared to Singapore.



For this reason, the government has decided to consider establishing an environment for accepting overseas financial institutions and human resources.



When financial institutions carry out procedures for conducting business in Japan, we have so far communicated with the authorities in Japanese and submitted documents, but we are planning to review the system so that we can respond in English.



We are also considering a wide range of studies, such as providing information about education and medical services in English so that employees of financial institutions can live in Japan with peace of mind.