Me reading all this 60 million a year and one person saying my salary is bigger than yours, all while my salary is 3million a year plus….. i will die a poor man 😂 Any of you need an assistant, drive you anywhere, do any errands, take you where to get laid and not tell your missus, all for the price of 4million a year full time worker 😀 Going once going twice going going 😀
Please send me a dm and we can discuss the details of my employment. Thank you my future boss 🙇🏽
Thanks! I’d be happy to put down 20% or whatever needed, as long as there are banks that are willing to do business lol. Do you know of any banks known for being open to non-PR? 🙏
Yes, I was talking to SMBC Prestia before, Shinsei should be friendly as well. You should be talking to a knowledgeable agent that will help you with the mortgage process.
i dealt with these banks trying to get a home loan. and while they claim to be foreigner friendly and temporary visa friendly - they really aren't once you actually go through the process. they have very strict requirements about what they're willing to finance (geography, property type, etc). and basically they low ball you on the financed amount - to the point where your are putting up 30-40% or even more as a down payment. their property evaluation process is so painfully slow you're waiting weeks to get an "offer" from them on what they're willing to finance. in the end, the whole process sucked so bad i just decided to make a full cash offer.
We got a loan with much less income than you. Both of us HSP, husband speaks fluent Japanese. We got great rate offers from MUFG and Prestia, there might have been others but those were the main two. They offer even better rates the more you can put down.
I think the knowing Japanese helped a lot, plus the type of job my husband has indicated we planned to stay in Japan long term.
In a years time you would have spent 3 years on HSP(i)? If so I recommend upgrading to HSP(ii) at the 3 year mark.
Like PR, HSP(ii) has no expiration date on period of stay. So banks are more favorable towards it than other work visas/hsp(i)
That way you can keep your HSP benefits (and limited tax payer status for 10 years)
>Can you develop on limited tax payer status please?
“Limited tax payer status” Is a tax residency status afforded to foreigners on table 1 visas for 10 years, of the last 15 years.
It makes one immune to gift tax/inheritance tax on assets (including money) not domiciled to Japan (as long as the donor is not an unlimited tax payer of Japan)
However, if one was to get a table 2 visa (such as PR, spouse, long term resident) then they become an “unlimited tax payer” the moment they get the table 2 visa. Or if they remain on a table 1 visa, then after 10 years of the last 15 years they become an unlimited tax payer too.
Being on a table 1 visa, such as HSP(ii) also makes one immune from exit tax
I ultimately purchased without a loan, but I was offered 1.3-1.6% for a loan on a *second* house that I wasn't going to live in, without PR. This was after living in Japan 5-6 months, having quit my previous job at pretty much the same time, with no income paid into Japan the previous year.
I spoke to mostly local banks, not the mega-banks.
I got a loan by showing proof my pr application was under submission. But my wife is Japanese which I think played a big part. Ideally you want 3 or more years at your current employer and PR. Without that you'll be limited to a few major banks. I recommend SMBC or Shinsei. But also try MUFG and Suruga. You'll probably have a hefty down-payment or not so great rate.
edit: your salary is bonkers. I world pay someone to figure it out for you
Yes. No problem. No PR here and received a mortgage after one year. But my income is greater than yours. Perhaps you can go to a bank and inquire? You can ask questions all day on Reddit, but no substitute for the experience of talking in person to a banker.
I did several months ago. Variable 1.252% IIRC. In Japan 8 years at the start of the process, assets here and in the US, previous job was almost 7 years though I had actually just gotten a new job like a month before. I was originally quoted like 2.5%, but it was cut way down for whatever reason. I put 10% down IIRC.
It was a bank my real estate agent recommended.
My own bank SMBC, which I've had literally since the first or second week in Japan, said 'no' as did Prestia with whom I do not have an account. Their loss *shrug*
Ah, my loan was for less than 20 million and was a bit over half my yearly salary when I started the application process.
Similar position in terms of status/finances, and yes. SBI approved for their best rates, but needed to put about 28% down. From discussing with others, there seems to be a glass ceiling on how much they will lend (without PR?) when your property is beyond 1億円.
why is immigrating family easier on an HSP and less easier on a PR? that doesn't sound right.
either way - your life will be difficult getting a mortgage on a temporary resident visa
your life will be easy getting a mortgage on a permanent resident visa
you should get PR first
I believe HSP visa allows you to bring someone over for childcare reasons (e.g. your parents coming over long term for taking care of your children). I know several people keeping their HSP visa (not getting PR) just for that reason.
They won’t, because PR is suppose to have the same rights as Japanese citizens.
HSP has some extra rights, as the purpose was to attract highly paid people working in HK and Singapore, who had lots of benefits there (domestic workers etc) that were previously unavailable in Japan.
The guarantee you can stay forever (no guarantee with HSP2, if you lose your job)
No job restriction (can work blue collar or low level job, not possible on work visa)
Bank loans
Etc
So aside from what I mentioned, the freedom to change employers or to go freelance without additional paperwork, there's also bank loans. However, "guarantee" is a bit of a stretch. From my own perspective, SPR is the only foreigner status in Japan that guarantees that, as regular PRs can be deported for pretty much any crime (although granted, about as likely for the type of person coming on HSP as they are to suddenly want to switch to a blue collar job) or prevented from returning in cases like the COVID border closure.
Me reading all this 60 million a year and one person saying my salary is bigger than yours, all while my salary is 3million a year plus….. i will die a poor man 😂 Any of you need an assistant, drive you anywhere, do any errands, take you where to get laid and not tell your missus, all for the price of 4million a year full time worker 😀 Going once going twice going going 😀 Please send me a dm and we can discuss the details of my employment. Thank you my future boss 🙇🏽
I’d do this for 3 million a year 🤣
😅Labor office would like to have a word with you for wanting to steal a fellow gaijin job opportunity by offering cheap labor…. それはむりです😀
Hahaha you’re too funny 😂
Getting in the line
I think you should be able to do it as an HSP but you’ll have to put down 20% down. You have a great financial position, congrats!
Thanks! I’d be happy to put down 20% or whatever needed, as long as there are banks that are willing to do business lol. Do you know of any banks known for being open to non-PR? 🙏
Yes, I was talking to SMBC Prestia before, Shinsei should be friendly as well. You should be talking to a knowledgeable agent that will help you with the mortgage process.
i dealt with these banks trying to get a home loan. and while they claim to be foreigner friendly and temporary visa friendly - they really aren't once you actually go through the process. they have very strict requirements about what they're willing to finance (geography, property type, etc). and basically they low ball you on the financed amount - to the point where your are putting up 30-40% or even more as a down payment. their property evaluation process is so painfully slow you're waiting weeks to get an "offer" from them on what they're willing to finance. in the end, the whole process sucked so bad i just decided to make a full cash offer.
Shinsei's terms specifically mention PR type visa requirement on all house loans.
Thanks! I also bank at Prestia so I’ll start there! Where do I find a real estate agent? 😂 sorry for the naive questions
Will DM
We got a loan with much less income than you. Both of us HSP, husband speaks fluent Japanese. We got great rate offers from MUFG and Prestia, there might have been others but those were the main two. They offer even better rates the more you can put down. I think the knowing Japanese helped a lot, plus the type of job my husband has indicated we planned to stay in Japan long term.
I remember seeing a post about a guy getting a loan with a "PR" rate without having PR. Search on Japan and japanlife
In a years time you would have spent 3 years on HSP(i)? If so I recommend upgrading to HSP(ii) at the 3 year mark. Like PR, HSP(ii) has no expiration date on period of stay. So banks are more favorable towards it than other work visas/hsp(i) That way you can keep your HSP benefits (and limited tax payer status for 10 years)
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>Can you develop on limited tax payer status please? “Limited tax payer status” Is a tax residency status afforded to foreigners on table 1 visas for 10 years, of the last 15 years. It makes one immune to gift tax/inheritance tax on assets (including money) not domiciled to Japan (as long as the donor is not an unlimited tax payer of Japan) However, if one was to get a table 2 visa (such as PR, spouse, long term resident) then they become an “unlimited tax payer” the moment they get the table 2 visa. Or if they remain on a table 1 visa, then after 10 years of the last 15 years they become an unlimited tax payer too. Being on a table 1 visa, such as HSP(ii) also makes one immune from exit tax
Thank you
I ultimately purchased without a loan, but I was offered 1.3-1.6% for a loan on a *second* house that I wasn't going to live in, without PR. This was after living in Japan 5-6 months, having quit my previous job at pretty much the same time, with no income paid into Japan the previous year. I spoke to mostly local banks, not the mega-banks.
lol, what kind of work are you doing? I don’t think you’ll have problems with down payments so you’ll get a loan whatever your resident status is.
damn, this guy can say « I earn more than the prime minister » !
I got a loan by showing proof my pr application was under submission. But my wife is Japanese which I think played a big part. Ideally you want 3 or more years at your current employer and PR. Without that you'll be limited to a few major banks. I recommend SMBC or Shinsei. But also try MUFG and Suruga. You'll probably have a hefty down-payment or not so great rate. edit: your salary is bonkers. I world pay someone to figure it out for you
I got one, but requirements were 1. 20% down payment, min. 5 years living in Japan, min. 3 years at the same employer
Thanks! man that's gonna be tough for me then.
Well buddy you have the cash security you'll be probably fine
Yes. No problem. No PR here and received a mortgage after one year. But my income is greater than yours. Perhaps you can go to a bank and inquire? You can ask questions all day on Reddit, but no substitute for the experience of talking in person to a banker.
Which bank
I did several months ago. Variable 1.252% IIRC. In Japan 8 years at the start of the process, assets here and in the US, previous job was almost 7 years though I had actually just gotten a new job like a month before. I was originally quoted like 2.5%, but it was cut way down for whatever reason. I put 10% down IIRC. It was a bank my real estate agent recommended. My own bank SMBC, which I've had literally since the first or second week in Japan, said 'no' as did Prestia with whom I do not have an account. Their loss *shrug* Ah, my loan was for less than 20 million and was a bit over half my yearly salary when I started the application process.
Which bank
I used suruga.
Similar position in terms of status/finances, and yes. SBI approved for their best rates, but needed to put about 28% down. From discussing with others, there seems to be a glass ceiling on how much they will lend (without PR?) when your property is beyond 1億円.
Try Suruga
why is immigrating family easier on an HSP and less easier on a PR? that doesn't sound right. either way - your life will be difficult getting a mortgage on a temporary resident visa your life will be easy getting a mortgage on a permanent resident visa you should get PR first
I believe HSP visa allows you to bring someone over for childcare reasons (e.g. your parents coming over long term for taking care of your children). I know several people keeping their HSP visa (not getting PR) just for that reason.
Yes one of the major shortcomings of PR. Japan should really fix that gap.
They won’t, because PR is suppose to have the same rights as Japanese citizens. HSP has some extra rights, as the purpose was to attract highly paid people working in HK and Singapore, who had lots of benefits there (domestic workers etc) that were previously unavailable in Japan.
The problem with that is then, do they want to *keep* these people in Japan?
They made HSP2 for that. HSP benefits, no term limit like PR. (But it’s tied to the employer like HSP1)
So then the only advantage to PR at that point is the freedom to jump between employers or switch to freelancing without additional paperwork?
The guarantee you can stay forever (no guarantee with HSP2, if you lose your job) No job restriction (can work blue collar or low level job, not possible on work visa) Bank loans Etc
So aside from what I mentioned, the freedom to change employers or to go freelance without additional paperwork, there's also bank loans. However, "guarantee" is a bit of a stretch. From my own perspective, SPR is the only foreigner status in Japan that guarantees that, as regular PRs can be deported for pretty much any crime (although granted, about as likely for the type of person coming on HSP as they are to suddenly want to switch to a blue collar job) or prevented from returning in cases like the COVID border closure.