Quick Answer
Bringing money to Japan is straightforward but has reporting requirements. Wire transfers over ¥1M are automatically reported by banks. Bringing over ¥1M in cash requires a customs declaration. There's no tax on bringing your own savings to Japan — but the timing matters for the 5-year tax residency rule.
Before you arrive — 渡日前の準備
Moving to Japan involves significant upfront costs: first month's rent, deposit (敷金), key money (礼金), insurance, furniture, and living expenses before your first paycheck arrives. Most people need ¥500,000-1,500,000 (roughly $3,500-10,000 USD) accessible within their first few weeks. Planning how to bring this money is important because you will not have a Japanese bank account on day one.
Here is what to do before you leave your home country:
- Notify your home bank — tell them you are relocating to Japan and will be making international transfers. Some banks freeze accounts when they detect unexpected overseas activity. Set up international wire transfer capability if you have not already.
- Get your bank's SWIFT/BIC code — you will need this to receive wire transfers later. Also note your full account number and routing information in the international format (IBAN for European banks).
- Set up Wise or Revolut — create an account before you leave. Wise and Revolut allow you to send money to Japan once you have a Japanese bank account. Having the account ready saves time.
- Bring a debit/credit card that works internationally — you will need this for the first 2-4 weeks before your Japanese bank account is open. Visa and Mastercard are widely accepted. Confirm with your bank that the card works for international ATM withdrawals and check the foreign transaction fee.
- Consider bringing some cash — having ¥100,000-300,000 in Japanese yen cash when you arrive gives you immediate spending ability for taxis, convenience stores, and small purchases that may not accept cards.
Timing matters
Opening a Japanese bank account typically takes 1-3 weeks after you arrive and register your address. During that period, you will rely on cash and your international cards. Plan to have enough accessible funds to cover at least a month of expenses without a Japanese bank account.
Wire transfer — 海外送金
Wire transfers are the most common way to move large amounts of money to Japan. Once you have a Japanese bank account, you can transfer funds from your home country directly into it. Here are your main options:
Wise (recommended for most people)
Wise is the best option for most foreigners moving money to Japan. It uses the real mid-market exchange rate with a small transparent fee (typically 0.4-0.7% of the transfer amount). The money usually arrives in your Japanese bank account within 1-2 business days.
How it works: you send money from your home bank to Wise in your home currency. Wise converts it to JPY at the real exchange rate and deposits it into your Japanese bank account. For a $5,000 transfer, you might pay $20-35 in fees — compared to $100-200 through a traditional bank wire.
Revolut
Revolut offers fee-free currency exchange up to ¥750,000/month on the free plan (weekdays only — 1% surcharge on weekends). If you are transferring smaller amounts regularly, Revolut can be even cheaper than Wise. However, for large one-time transfers (your initial savings move), Wise may be more straightforward.
Traditional bank wire (SWIFT)
You can wire money directly from your home bank to your Japanese bank using the SWIFT network. This is the traditional method and is sometimes necessary for very large transfers or when your home bank does not work with Wise. The downsides: higher fees (¥3,000-8,000 on each end), worse exchange rates (1-3% markup), intermediary bank fees ($15-30 deducted in transit), and slower speed (3-5 business days).
For a SWIFT wire to Japan, your home bank will need:
- Your Japanese bank's SWIFT/BIC code (e.g., SMBC = SMBCJPJT, MUFG = BOTKJPJT)
- Your branch name and number (支店名・支店番号)
- Your account number (口座番号, usually 7 digits)
- Your account holder name in katakana (exactly as registered at the bank)
- The bank's address
Name matching
International wire transfers can be rejected if the recipient name does not exactly match the account holder name at the Japanese bank. Japanese banks register your name in katakana, and the romanized version may differ from your home bank records. For example, if your Japanese bank has your name as "ジョン スミス" (John Smith) but the wire says "Jonathan Smith" or "JOHN P. SMITH," it may be flagged. Confirm the exact name format with your Japanese bank before initiating a transfer.
Carrying cash into Japan — 現金の持ち込み
You can bring cash into Japan, and many people carry some Japanese yen or their home currency when they first arrive. However, there are important rules:
The ¥1,000,000 customs declaration rule
Under the 関税法 (Customs Act) and 外国為替及び外国貿易法 (Foreign Exchange Act), you must submit a customs declaration (支払手段等の携帯輸出・輸入申告書) if you are carrying the equivalent of ¥1,000,000 or more into Japan. This includes:
- Cash — Japanese yen, foreign currency, or a combination totaling ¥1M+ equivalent
- Checks and traveler's checks — counted toward the total
- Securities — promissory notes, securities, and similar instruments
- Gold bullion — gold bars weighing 1kg or more must always be declared, regardless of value
How to declare: When going through customs at the airport, take the declaration form (available in English), fill it out, and submit it at the customs counter. This is a declaration, not a restriction — you are allowed to bring any amount, you simply must report amounts of ¥1M or more. Failure to declare can result in the cash being seized and potential penalties.
Below ¥1,000,000: No declaration is needed. You can walk through customs without reporting it. For most people arriving with ¥100,000-300,000 in cash, no paperwork is required.
Practical advice on carrying cash
- Bring ¥100,000-300,000 in JPY cash — enough for the first few days (transportation, meals, initial purchases). You can buy JPY at your home bank or currency exchange before departure.
- Split cash between carry-on and person — never put all your cash in checked luggage. Split it between your wallet, a money belt, and your carry-on bag.
- Do not bring excessive cash — there is no advantage to carrying large amounts of cash. Wire transfers are safer, often offer better exchange rates, and create a documented paper trail.
Safety note
Japan is one of the safest countries in the world for carrying cash, and cash is still widely used. That said, if you are carrying a significant amount, keep it secure during transit. Once in Japan, deposit it into your bank account as soon as possible. If you lose cash in Japan, there is actually a reasonable chance it will be returned — Japan's lost property system is remarkably effective — but do not rely on this.
Currency exchange options — 両替オプション
If you arrive with foreign currency cash or need to convert funds, you have several exchange options. The rates and convenience vary significantly:
| Method | Exchange rate | Convenience | Best for |
|---|---|---|---|
| Wise / Revolut | Best (mid-market rate) | Need bank account | Large transfers after setup |
| International ATM | Good (card network rate) | High — ATMs everywhere | First days cash needs |
| Currency exchange shops | Varies (decent in city centers) | Medium | Foreign cash conversion |
| Airport exchange counter | Poor (2-3% markup) | High — open at arrival | Emergency small amounts |
| Japanese bank | Poor (1-2% markup) | Low — need an account | Large amounts (negotiable) |
| Home country bank | Poor to average | High — before departure | Pre-arrival JPY cash |
ATM withdrawals with your international card
For your first few weeks in Japan, international ATM withdrawals are the most practical way to get cash. The best ATMs for foreign cards:
- 7-Eleven ATMs (セブン銀行) — the most reliable for foreign cards. Available 24/7 in every 7-Eleven convenience store. English interface. Withdrawal fee of ¥110 per transaction.
- Japan Post Bank ATMs (ゆうちょ銀行) — available in post offices and some shopping areas. Accept most international cards. English available.
- Lawson ATMs — another convenience store option with good foreign card compatibility.
- AEON ATMs — found in AEON shopping centers. Accept Visa, Mastercard, and some others.
Avoid the "Dynamic Currency Conversion" trap: Some ATMs will ask if you want to be charged in your home currency instead of JPY. Always choose JPY. If you choose your home currency, the ATM operator sets the exchange rate — and it is almost always 3-5% worse than your bank's rate. Let your own bank handle the currency conversion.
Daily ATM limits
Most international cards have a daily ATM withdrawal limit — typically ¥50,000-100,000. If you need more, make multiple withdrawals across different days, or contact your home bank to temporarily increase the limit before you travel. Some banks allow you to adjust limits through their mobile app.
Reporting requirements — 届出・報告義務
Japan tracks large financial flows under the 外国為替及び外国貿易法 (Foreign Exchange and Foreign Trade Act) and various tax regulations. Here are the key thresholds you need to know when bringing money into Japan:
¥1,000,000+ — Customs declaration (cash)
As described above, carrying ¥1,000,000 or more in cash, checks, or securities through customs requires a written declaration. This applies each time you enter Japan. It is a declaration — not a tax or restriction. No money is deducted.
¥1,000,000+ — Automatic bank reporting (wire transfers)
When a bank or licensed 資金移動業者 (like Wise) receives an international transfer of ¥1,000,000 or more into your account, they are legally required to file a 国外送金等調書 (Report on Overseas Remittances) with the tax office. This happens automatically — you do not need to do anything. The report includes your name, the amount, the sender, and the purpose of the transfer.
¥30,000,000+ — Bank of Japan (BOJ) notification
Receiving ¥30,000,000 or more (or equivalent in foreign currency) in a single transfer requires a report to the Bank of Japan (日本銀行) for balance-of-payments statistics. Your receiving bank will typically assist with the paperwork and may contact you to fill out the required forms.
¥50,000,000+ — Overseas asset reporting (年末時点)
If you hold overseas assets (bank accounts, investments, property abroad) totaling ¥50,000,000 or more as of December 31 of any year, you must file a 国外財産調書 (Overseas Asset Report) by March 15 of the following year. This applies once you are a tax resident of Japan. Even if you brought the money to Japan, your remaining overseas assets above this threshold must be reported.
No restrictions
Japan does not restrict how much money you can bring into the country. There is no cap, no limit, and no approval needed. The reporting requirements are informational — they help the government track financial flows, but they do not prevent you from bringing your money. You are free to transfer any amount of legally earned funds to Japan.
Tax implications — 税務上の影響
This is where many foreigners get confused — and where the stakes are highest. The good news: bringing your own savings to Japan is NOT taxable. However, there are important nuances depending on your tax residency status and the source of the funds.
Your own savings = not taxable
If you are transferring your own money — savings you earned and already paid taxes on in your home country — bringing it to Japan is simply moving money between your own accounts. It is not income and is not subject to Japanese income tax, resident tax, or any other tax. Whether you send ¥1,000,000 or ¥100,000,000, your savings are your savings.
The non-permanent resident remittance rule
This is the most important tax concept for foreigners bringing money to Japan. Japan classifies tax residents into three categories:
| Status | Who | Taxed on |
|---|---|---|
| Non-resident (非居住者) | Not domiciled in Japan | Japan-source income only |
| Non-permanent resident (非永住者) | Domiciled in Japan for <5 of past 10 years, without Japanese nationality | Japan-source income + foreign income remitted to Japan |
| Permanent resident (永住者) | Domiciled in Japan for 5+ of past 10 years, or Japanese nationals | Worldwide income |
The critical category for most newcomers is non-permanent resident (非永住者). During your first 5 years in Japan, you are taxed on Japan-source income plus any foreign-source income that is "remitted" (送金) to Japan. The word "remitted" has a specific tax meaning — it includes wire transfers, bringing cash, and any foreign income that is paid into or transferred to your Japanese accounts.
Why this matters for moving money: If you have foreign-source income (e.g., rental income from property abroad, dividends from overseas investments, capital gains from foreign stock sales) and you send it to Japan during your first 5 years, it may be considered a taxable remittance. However, your existing savings (earned before you became a Japan resident) are not foreign-source income — they are already-taxed capital that you are simply relocating.
Critical distinction
Savings = not taxable when remitted. Foreign income earned after becoming a Japan tax resident = potentially taxable when remitted (during non-permanent resident years). The NTA looks at the nature of the funds, not the timing of the transfer. Keep clear records separating your pre-arrival savings from post-arrival foreign income to avoid complications.
Gifts and inheritance
If someone sends you money as a gift, Japanese gift tax (贈与税) may apply. The annual gift tax exemption is ¥1,100,000 per donor per year. Gifts above this amount are taxed at 10-55% depending on the amount. This applies regardless of whether the gift comes from Japan or abroad.
Inheritance received while you are a Japan tax resident is also subject to Japanese inheritance tax (相続税), even if the deceased and the assets are overseas. The rules are complex and depend on your specific residency situation. If you expect to receive a large inheritance while living in Japan, consult a tax professional (税理士) before the funds are transferred.
Foreign exchange gains
If you hold foreign currency and convert it to JPY at a profit, the gain is taxable as 雑所得 (miscellaneous income). Example: you bring $50,000 to Japan when the rate is ¥140/$1 (value: ¥7,000,000). A year later, you convert it to JPY at ¥155/$1 (value: ¥7,750,000). The ¥750,000 gain is taxable income. If you convert immediately upon arrival, there is typically no significant gain to worry about.
Opening your first Japanese bank account — 銀行口座の開設
Before you can receive wire transfers in Japan, you need a Japanese bank account. Here is the short version for newcomers (see our detailed banking guide for the full walkthrough):
Register your address (住民登録)
Go to your local ward or city office within 14 days of arrival. Register your address to get your 在留カード (residence card) updated with your Japanese address. This is a prerequisite for opening a bank account.
Choose a bank
For foreigners, the best first-account options are: ゆうちょ銀行 (Japan Post Bank) — easiest to open, branches everywhere; Shinsei Bank — English online banking; or Sony Bank — excellent app, multi-currency features. Your employer may also recommend or require a specific bank for salary deposits.
Visit the branch or apply online
Bring your 在留カード (with address registered), passport, and phone number. Some banks accept online applications, but in-person is often faster for foreigners. The account is typically active within 1-2 weeks (you will receive your cash card by mail).
Start transferring funds
Once your account is active, set up Wise with your Japanese bank details and initiate your first transfer from your home country. The money should arrive within 1-2 business days.
6-month restriction
Some banks impose restrictions on new accounts opened by foreigners who have been in Japan for less than 6 months. This may include limits on international transfers, no online banking access, or a cash card instead of a debit card. These restrictions are lifted after 6 months of residency. If you need full banking features immediately, Shinsei Bank and Sony Bank tend to have fewer restrictions for newcomers.
Frequently Asked Questions — よくある質問
Will I be taxed on money I bring to Japan?
Not if it is your own savings. Money you earned and paid taxes on before coming to Japan is not income — it is capital. Transferring it to your Japanese bank account is not a taxable event. The only situations where incoming money could trigger tax are: (1) foreign-source income remitted during your non-permanent resident years, (2) gifts above ¥1,100,000/year, or (3) foreign exchange gains when converting currency.
Should I transfer all my savings at once or gradually?
There is no tax advantage either way for your own savings. From a practical standpoint, transferring gradually may give you better average exchange rates (dollar-cost averaging). However, if you need a large amount for a specific purpose (apartment deposit, car purchase), transfer what you need when you need it. The ¥1M+ reporting threshold should not influence your decision — it is purely informational and carries no tax consequence for legitimate transfers.
Can I keep my home country bank account after moving to Japan?
Yes, in most cases. Most countries allow you to maintain your bank account even after moving abroad. However, some banks may close accounts of non-residents or restrict services. Check with your bank before you leave. Keeping your home account is useful for receiving any remaining income (tax refunds, pension, rental income), maintaining credit history, and having a backup financial base. Remember the ¥50,000,000+ overseas asset reporting requirement once you are a Japan tax resident.
My company is paying for my relocation. Is that taxable?
It depends on the structure. If your employer provides a relocation allowance as part of your compensation, it is generally considered taxable income in Japan. However, if the employer directly pays relocation expenses on your behalf (flight tickets, shipping costs, temporary housing) as a legitimate business expense, those costs may be non-taxable. The distinction is between "cash allowance to you" (taxable) and "company paying vendors directly" (often non-taxable). Check with your employer's HR or a tax advisor for your specific arrangement.
What if I need money urgently before my bank account is open?
Use a combination of: (1) cash you brought from home, (2) international ATM withdrawals from 7-Eleven or Japan Post Bank ATMs using your foreign debit/credit card, and (3) credit card payments wherever possible (most major expenses like apartment deposits can be paid by card or bank transfer from a domestic account your real estate agent may help facilitate). If you are truly stuck, some companies advance your first month's salary or provide emergency loans for relocation.
Is Wise available for transfers TO Japan, not just FROM Japan?
Yes. Wise works in both directions. You can send money from your home country to your Japanese bank account and vice versa. For transfers to Japan, you send money from your home bank to Wise in your home currency, and Wise deposits JPY into your Japanese bank account. The process, fees, and speed are comparable to outbound transfers. You do not need to have a Wise Japan account — you can set this up using your home country address before moving.
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Sources
- 外国為替及び外国貿易法 (Foreign Exchange and Foreign Trade Act)
- 関税法第105条 (Customs Act Article 105) — cash declaration requirements
- 国税庁 非永住者の課税 (NTA — Taxation of Non-Permanent Residents)
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