The Immigration Services Agency plans to tighten the requirements for foreign corporate managers seeking to obtain the business management residency status, including raising the minimum capital needed from the current ¥5 million to ¥30 million, it was reported Monday.

This is aimed at preventing misuse of the visa for migration purposes.

The agency presented a draft revision of a related ministerial ordinance to the ruling Liberal Democratic Party's special committee on foreign human resources the same day and obtained approval. The plan is to amend the ordinance by the end of the year after the government receives public comments.

Under the current system, individuals can qualify for the visa if they have a business office in Japan and capital of at least ¥5 million or employ two or more full-time workers. Some had raised concerns that the lax requirements may lead to misuse of the system.

The agency said application screenings have revealed instances of no actual business operations.

In addition to the higher capital requirement, the proposed revision requires applicants to have at least three years of managerial experience or an academic degree equivalent to at least a master's degree in the relevant field, as well as the employment of one or more full-time employees.

According to the agency, the number of foreign residents with management status had reached a record 41,615 as of the end of 2024.

By nationality, China had the highest number, at 21,740, followed by Nepal, at 2,830, and South Korea, at 2,741.