Strict Examination by Banks
Opening a corporate bank account in Japan requires more than company registration. Banks conduct detailed examinations to confirm that the business has a legitimate operational purpose and transparent financial activities. A registered office address, clear business plan, and verifiable identity of the representative are expected before screening begins.
Demonstrating Business Reality
During the review, banks assess whether the company can demonstrate real commercial substance in Japan. This typically includes proof of where and how the business operates, the nature of expected clients and partners, and the anticipated volume of transactions. Any ambiguity in business activities or revenue sources increases the likelihood of delay or rejection.
Focus on AML Compliance
Anti–money laundering compliance plays a central role. Banks may request information on the origins of initial capital, governance structures, accounting procedures, and tax reporting plans. A company that cannot show reliable internal controls or a credible financial model may be considered high-risk.
Importance of Consistent Documentation
To achieve a smooth approval process, all documents should be consistent and up to date, including incorporation certificates and articles of incorporation. Presenting supporting materials such as lease agreements or service contracts strengthens the impression of operational readiness.
Key to Success
A corporate bank account in Japan is granted only when a bank confirms the business is legitimate, transparent, and prepared for ongoing compliance. Careful preparation and clear documentation are essential for a successful outcome.
Why Online Banks Tend to Be More Flexible
Online banks operate with a business model focused on small and early-stage companies. They aim to acquire new corporate accounts rather than prioritize large lending relationships. As a result, requirements linked to business scale or past performance are generally lighter. Financial crime checks remain strict, but the overall screening stance is more flexible than traditional banks.
Common Traits of Flexible Online Banks
Lower emphasis on paid-in capital
Some online banks accept applications even with very low capital.
Example: GMO Aozora Net Bank publicly states that capital amount does not affect eligibility.
No fixed phone number requirement
Many online banks allow mobile numbers instead of fixed lines.
Exception: Rakuten Bank still requires a fixed phone line.
Minimal documentation
Certain banks allow Web-based applications with only the representative’s ID.
Document burden is significantly reduced compared to traditional banks.
Examples of Online Banks with Higher Approval Probability
GMO Aozora Net Bank
Popular among newly established companies.
Low fees and no capital requirement.
Frequently selected by entrepreneurs with limited business track record.
Sumitomo Mitsui Banking Corporation SBI Net Bank
In some cases, only a driver’s license is required.
Fully online application.
Suitable for founders who want to minimize setup effort.
PayPay Bank
Entire process handled on smartphones.
Business debit card available immediately after account opening.
Useful for managing payments during the launch phase.
Online Banks with Relatively Strict Screening
Rakuten Bank requires a fixed phone line and more supporting documents.
This places it on the strict side among online banks.