Japan establishes new exempted structures for investment management businesses


Authors: Tomohiro Kandori, Attorney-at-Law
Makoto Hibi, Attorney-at-Law
February 2022

As outlined in our Newsletter in July 2021 (hereinafter, the 2021 Newsletter), the Financial Services Agency of Japan introduced new business structures to attract foreign investment management businesses, where they may enjoy exemption from registration as financial instruments business operators. The new exemption structures came into force on 22 November 2021. In this Newsletter, which serves to update the 2021 Newsletter, we will provide an overview and describe the key requirements of these exemptions.

  1. Background 
  2. Registration requirements under the FIEA for self-offering of interests in and management of partnership-type funds
  3. Overview of the requirements for the new exemptions

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