Business Manager Visa Catch-22

[glimmer]

Anyone gone through the process of acquiring a Business Manager Visa (BMV)? I have over ¥5 million sitting in a Japan Post Bank account. I'm transitioning from a student visa to a BMV, and Japanese immigration is demanding proof that the ¥5 million should be in a business bank account as proof that it will be invested in my company.

Problem is, when I visited a Mitsubishi UFJ to open a business account, they told me that I cannot do this with a student visa, I need the BMV. Classic Catch-22. Also, my Zairyu card was due to expire within 3 months, another reason for the bank to deny me.

Before someone flags this post as a visa question that belongs on other forums, I genuinely would like to know how those who acquired a BMV was able to outmaneuver this bureaucratic hurdle and open a business bank account? I'm bewildered that there is not some type of holding deposit account option for foreigners who desire to become long term residents of Japan. Thank you!

[captainspoke]

This sounds like something someone at JapanFinance might be able to comment on:

https://www.reddit.com/r/JapanFinance/

Some people there are really knowledgeable.

[glimmer]

This sounds like something someone at JapanFinance might be able to comment on:

Posted! Thanks!

[reggie_f]

Are you eligible for the start-up visa? It's only 6 months long but one of the reasons it exists is to avoid this catch 22. The general idea is you then progress on to a business manager visa to run your business at the end of the 6 months.

[glimmer]

Thanks for the suggestion. I've already started the process with the lawyer and immigration so I don't believe changing midway is an option at this point, as we're probably 80% of the way there already, or so I hope.