Offshore vs Onshore Investment

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Hedgehog
Newbie
Posts: 19
Joined: Tue Jul 20, 2021 4:40 am

Re: Offshore vs Onshore Investment

Post by Hedgehog »

beanhead wrote: Wed Jul 21, 2021 10:00 am Welcome! I will try and answer as best as I can.

For Japan, when you bring money in, you will be liable for taxes on the gains you have made if the gain is more than 500,000. Splitting the amount into 2 different years could maximize that 500,000 per year.
https://www.nta.go.jp/taxes/shiraberu/t ... u/1490.htm

Second thing is that if the amount is large, your bank here will want to know what it is. You may have to prove to them that is your money, so some kind of proof of the regular payments you have been making is good to prepare. This is all to do with money-laundering laws, as you may know, and all banks will ask the same sort of questions (probably in the UK too).

The only other comment I have is to beware of the temptation to spend the money or trade with it! Before is was probably not touchable, but now it will be in an account which allows you to buy and sell.
Many thanks for your helpful comments; they're a useful start for me.

The capital gains are considerably more than ¥500k, and the overall amount is what I presume you might term as large, but I should still have all the paperwork somewhere as it's all legit. Thanks for alerting me to that.

And I think I have learned my lesson now. I will have no need to spend the money, nor trade with it. I basically want to recreate a similar portfolio to the one I have now, but with less in the way of administration charges (and all the rest). Thanks again!
goodandbadjapan
Veteran
Posts: 385
Joined: Thu Aug 03, 2017 1:01 pm

Re: Offshore vs Onshore Investment

Post by goodandbadjapan »

When I sent funds from a Generali plan to the UK it was about 12 million yen, and nobody asked anything in the UK. The gain was only a bit more than a million and I declared that here in Japan as I pay taxes here. I was expecting someone in the bank in the UK to wonder why an account I barely used had such a large amount suddenly come in, and it was all legitimate and explainable, but they never did.
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