|Local Time (LIVE):||5:39 AM|
|Local Currency:||$1 = ¥112.22|
|Tax Year Dates:||1st January – 31st December|
Formally known as “Nippon-koku” or “Nihon-koku”, Japan has a population of over 126 million people. Known for its bustling neon cities, imperial palaces and mountainous national parks, it’s no surprise the country welcomes millions of tourists from across the globe every year.
It’s also no wonder many businesses look to expand their operations overseas to Japan. With a highly advanced infrastructure, a market of consumers with high levels of disposable income and a large economy, Japan is a win-win country to expand into. However, though the country may welcome you with open arms, expanding your business there isn’t without its challenges.
The country’s official language is Japanese, with English rarely used outside of hotels and restaurants catered to foreigners. This means you’ll likely need translation assistance during your expansion. The language barrier also presents a challenge when it comes to payroll and HR compliance. You want to make sure your processes remain compliant with the country’s laws and guidelines, which can be a challenge itself – let alone being in foreign language.
Fortunately, IRIS FMP are the xperts you need by your side. We have the experience you need to ensure your business remains compliant and your employees are paid on time, every time.
Details correct at time of publication. You should not rely on these details without first seeking professional international advice.