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What We Do
NAViS is an international tax and accounting firm dedicated to foreign companies entering Japan market and Japanese companies expanding to overseas markets. Our highly experienced professionals support you to develop and execute your global strategy!
We become your outsourced account department. This ensures compliance with local tax obligations including Consumption tax and Withholding tax. NAViS will submit the monthly financial report highlighting variance in timely manner to your head office and local managing director. We will also provide general advice relating to operating a company in compliance with laws and regulations in Japan, which a newly established company definitely needs.
All-time key elements of a business plan are 1) product to sell, 2) people to work with, and 3) cash to procure those two.
1) Product - Revenue scheme
If you already have a customer base in Japan market, you may want to build up a solid operational team to handle everything from import and distribution. If not, instead of investing a lot to set up buy-sell model, you may want to start with cost-plus model. Under this approach, Japan office with a small number of employees will conduct limited activities including marketing and customer support for the parent company which exports products/services directly to the Japanese customers/distributors. Japan office will charge its parent company for operational cost + mark-up margin, which enables the company to claim VAT refunds and avoid PE issues.
We will help you simulate tax implications and draft the cost-plus agreement from the standpoint of international taxation
2) People – Corporate governance scheme
It is crucial for head offices to realize that there is always a risk that local directors might conduct fraud transactions in secret.
We will help you design a robust corporate governance by providing information about governance structures available, shareholders’ rights, and directors’ duties and responsibilities.
3) Cash – Finance scheme
Before you choose corporate structure, you should understand the pros and cons of each entity from the viewpoint of funding. It is essential to know the tax implications on not only dividends and interests but also exit transactions.
We will help you design a tax efficient structure by providing insights into local taxation and tax treaty between Japan and your country.
As part of incorporation process, it is required to lodge a lot of documents with authorities such as memorandum and articles of association, and tax registration. NAViS will handle all the process of incorporation on behalf of you!
1) Name research
Firstly, to avoid any business conflictions, we will conduct the company name research to see if there are companies with the same/similar names in Japan.
2) Articles of Incorporation
Articles of Incorporation defines the company’s purpose and specifies the internal rules relating to shares and corporate governance such as the limitation of issuing/selling shares and directors’ term.
NAViS provides step-by-step instructions to help you design the articles of incorporation.
As a part of registration process, you are required to prove that investors have prepared the cash to be injected by submitting a copy of bank statement along with a number of incorporation documents such as signature certificate notarized by a Notary Public in your home country with Japanese translation.
We will provide incorporation service, applying for all necessary registration on behalf of you
4) Foreign Investment Report
Inward direct investments by foreign investors are subject to the regulation of the Foreign Exchange and Foreign Trade Act. Foreign investors are defined as 1) nonresident individuals, 2) foreign corporations, 3) domestic corporations with 50% or more shares being held by nonresident individuals and/or foreign companies, and 4) domestic corporations with more than 50% directors being nonresident. Establishing a branch office of a foreign corporation is deemed as the inward direct investment, even if it does not contribute funds from the head office to the branch office. You are required to obtain approval for investment prior to making the investment in certain industries. Otherwise, you will just submit the Foreign Investment Report after investment.
We will make a research to see if your investment falls under foreign investment regulations, and prepare the Foreign Investment Report
To meet the compliance requirements, NAViS uses the “freee-HR”, a local cloud payroll software, which always update us on the latest requirements and the social insurance rates. Let us become your outsourced payroll department with accurate reports and real time data with lower costs!
International businesses face significant challenges. We understand that operating in a global environment while trying to understand complex international tax laws can impact your operations around the globe. NAViS offers a range of advisory services in order to help our clients meet those challenges and help your business grow and succeed in the global marketplace.
1) Corporate income tax compliance
Our corporate income tax compliance services include:
• Collate information for the preparation of tax computation;
• Prepare tax computation, Tax Return Form and the relevant Appendices;
• Discuss with the management of the company on any pertinent tax issues that need to be addressed; and
• Obtain the company’s approval and signature to the tax return and file the same with the tax authorities on time.
2) Withholding tax compliance
A company is required to withhold tax on certain payments including salary, professional fees, and certain payments to non-residents. NAViS will give advice on withholding tax requirements, make a withholding tax file by due date, and assist in tax payment. We also prepare a withholding tax annual report and lodge with tax authorities.
The importance of internal audit has been increasing across the industries as more fraud transactions are seen which gives huge negative impact on corporations. Many organizations, however, lack sufficient audit skills and in-house resources to meet the demands and challenges of today’s complex risk management and compliance landscape. It's tough task for internal audit team from headquarters to execute internal audit procedures on overseas subsidiaries where they are not necessarily familiar with local language, regulations and customs.
Our bilingual professionals with internal and external experiences will join your internal audit team and help examine the subsidiary’s business activities in Japan.
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