Foreign Exchange and Foreign Trade Act


    Foreign Exchange and Foreign Trade Act

    The Foreign Exchange and Foreign Trade Act, as amended 2007 (the Act(only available in Japanese hereprovides requirements to manage and coordinate foreign trade in order to maintain the security and stability of the Japanese economy. In particular, the Act establishes measures for capital transactions, investment in and out of Japan, reporting to authorities, appeal processes, and sanctions. 

    Last Updated: July 30, 2019

  • Requirements

    Article 55-3 of the Act stipulates requirements for reporting capital transactions to the Minister of Finance, including the content of capital transactionsthe time of conducting capital transactions and other matters specified by cabinet order on a case-by-case basisThese requirements apply in instances such as when a bank, or similar entity, has acted as an intermediary or agent. The Act provides further requirements for reporting transactions, such as inward and outward investments and at the conclusion of technology introduction contracts (Article 55).  

    Article 72 of the Act stipulates that when a representative of a juridical person, such as an agent, employee or other worker, has committed a violation with regard to the business or property of the said juridical person or individual, not only shall the offender be punished but also the said juridical person or individual shall be fined.  

    Furthermore, in cases where a representative for a company or a natural person acting on behalf of another customer performs a specified exchange transaction, banks and similar entities are obliged by the Act to obtain identity confirmation of customers and those acting on behalf of others. (Article 18 (2) of the Act).

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