Golden Visas & Residency by Investment for Japan Residents

Residence by investment (RBI) programmes grant a residence permit in exchange for a qualifying investment rather than a job, a study place or a family tie. For people living in Japan, the key questions are how much to invest and in what, how many days you must spend there, whether the permit leads to citizenship, and what you must report to the National Tax Agency (NTA) while still resident. This guide compares six programmes as of October 2026; every figure is an official minimum, not a total cost.

The Concept of Residency by Investment (RBI) for Japan Residents

Residence by Investment vs. Citizenship by Investment

A golden visa is a residence permit, not a passport. Citizenship by investment (CBI) programmes, which confer nationality directly, are outside this guide. The difference matters for Japanese nationals: under Article 11(1) of the Nationality Act (Kokuseki-ho 国籍法), acquiring a foreign nationality of your own will, whether by naturalisation or by purchase, causes automatic loss of Japanese nationality.¹²

What a Golden Visa Does Not Do: Work Rights, Tax Status, and Japanese Residence

A foreign permit does not end your Japanese tax residence. A resident is a person with a domicile (Jusho 住所, the centre of life judged on objective facts) in Japan or a residence (Kyosho 居所) of 1 year or more, and a foreign permit plays no part in that test.³ The domicile analysis itself belongs to the topic of Japanese tax residency rules.

Work rights differ (as of October 2026). Portugal, the UAE and New Zealand allow holders to live and work there, Italy gives investors the rights of a self-employment permit holder, and Greece states that investor permits give no right of access to employment.⁴⁵⁶⁷⁸ If your real aim is a foreign job or remote work, the skilled migration and digital nomad visa topics are the better starting point.

Common Eligibility Elements: Lawful Source of Funds, Clean Record, Health Insurance

Each programme publishes its own document list, but lawful funds, a clean criminal record, health cover and a valid passport recur. Portugal, for example, asks for a criminal record certificate issued within 3 months, debt-clearance certificates issued within 45 days and a sworn undertaking to keep the investment for at least 5 years (as of October 2026).⁴ Italy requires certification of the lawful origin of funds and an undertaking to invest within 3 months of entry, New Zealand wants police certificates under 6 months old for everyone aged 17 or over, and EB-5 capital cannot carry a guaranteed return.⁷⁶⁹

For residents of Japan, the clean-record document is usually the Japanese police certificate (Hanzai Keireki Shomeisho 犯罪経歴証明書), issued through prefectural police headquarters. Japanese request and apostille procedures could not be confirmed on an official page for this guide; AIMA, for its part, asks for the certificate to be certified by a Portuguese diplomatic or consular post, so check with your prefectural police and the destination authority.⁴

Programmes That Have Closed or Narrowed (Spain and Portugal Real Estate)

Spain no longer has an investor residence route. Organic Law 1/2025 emptied Articles 63 to 67 of Law 14/2013 with effect from 3 April 2025; applications filed earlier are decided under the old rules, and existing permits keep their validity.¹⁰¹¹

Portugal closed its real estate and capital-transfer routes on 7 October 2023 under Law 56/2023 (Mais Habitação), while allowing existing permits to be renewed.¹² AIMA states that the remaining routes may not be directed, directly or indirectly, to real estate.⁴

European Golden Visas Compared: Portugal, Greece, and Italy

Portugal: The Fund Investment Track (ARI) After the 2023 Reform

The fund track requires EUR 500,000 in units of Portuguese non-real-estate collective investment undertakings that, when you invest, have a maturity of at least 5 years and invest at least 60% of their value in companies headquartered in Portugal (as of October 2026).⁴ AIMA also lists job creation (10 jobs), EUR 500,000 in scientific research, EUR 250,000 in arts or cultural heritage, and EUR 500,000 in a Portuguese company that creates jobs.⁴

The ARI is not available to Portuguese, EU, EEA, Andorran or Swiss nationals, which matters for some foreign residents of Japan.⁴ Benefits listed by AIMA include residence and work, visa-free Schengen travel, family reunification, and access to permanent residence and naturalisation under the general laws.⁴

The first permit is valid for 2 years from issue (as of October 2026).⁴ Renewals are reported to run for 3 years under Article 75(1) of Law 23/2007, a point confirmed only through a secondary summary of the official text, so check with AIMA, which handles applications and renewals through online portals.¹³¹⁴⁴

Greece: Real Estate Tiers (EUR 800,000 / 400,000 / 250,000)

Greece’s investor permit rests on Article 100 of Law 5038/2023 (the Migration Code), as amended in 2024, and is formally a “permanent residence permit for investors”.¹⁵ The tiers below follow the ministry’s September 2024 circular, not its older general web page (as of October 2026):¹⁵¹⁶

EUR 800,000: Attica, the Thessaloniki regional unit, Mykonos, Thira (Santorini) and islands with more than 3,100 inhabitants.
EUR 400,000: the rest of the country.
Single property, 120 sq m: one property only, with main areas of at least 120 sq m for built property.
EUR 250,000: conversion of non-residential buildings to residential use, or restoration of listed buildings, with no 120 sq m floor.

Short-term letting is banned for post-reform golden visa property. Lets under 60 days through the sharing economy, and subletting, are prohibited, with sanctions including revocation or non-renewal of the permit and administrative fines (as of October 2026).¹⁵ Property acquired under earlier rules or within the 2024 transitional period is outside the ban.¹⁵

The permit runs for 5 years and is renewable while the property is held; reselling during its validity revokes it (as of October 2026).⁸ The fee is EUR 2,000 plus EUR 16 for card printing, with processing estimated at 50 to 60 days.⁸ Non-real-estate routes could not be confirmed on an official page for this guide.

Italy: Investor Visa (No Real Estate Route)

Article 26-bis of Legislative Decree 286/1998 sets the routes, none of which involves real estate (as of October 2026):⁷

EUR 2,000,000 in Italian government securities, held for at least 2 years;
EUR 500,000 in capital instruments of a company or venture capital fund established and operating in Italy, or EUR 250,000 in a registered innovative start-up, held for at least 2 years;
a philanthropic donation of at least EUR 1,000,000 to a public-interest project.

The company route covers capital instruments, not corporate bonds, whatever some consulate pages say.⁷¹⁷ You first obtain a clearance (nulla osta) from the Investor Visa for Italy Committee through its online platform, then the investor visa at an Italian consulate, then a residence permit at the Questura within 8 days of entry.⁷¹⁷

The permit lasts 2 years and is renewable for 3-year periods (as of October 2026). It can be revoked if the money is not invested within 3 months of entry or is divested within 2 years.⁷ Article 26-bis(5-bis) exempts holders from continuity-of-stay obligations for 5 years from first issue.⁷

The Middle East Hub: UAE Golden Visa via Property or Investment

Real Estate Investors: The AED 2 Million Threshold and a 5-Year Term

The UAE government portal gives real estate investors a 5-year golden visa, and public investors 10 years, with a minimum capital of AED 2 million (as of October 2026).⁵ The federal identity authority (ICP) describes golden residence as lasting five to ten years without a sponsor.¹⁸ Rules on mortgaged, off-plan or jointly owned property, and any emirate-level wording, could not be confirmed on an official page for this guide.

Public Investment and Entrepreneur Routes

The portal describes investor eligibility at a high level. Its main requirements for the investor category read: minimum capital of AED 2 million; property ownership or contribution to an establishment paying at least AED 250,000 a year in taxes (as of October 2026).⁵ A separate entrepreneur category gives 5 years for innovative or technical projects supported by an incubator or authority letter.⁵

Residence Without Presence and Family Sponsorship

Golden visa holders may stay outside the UAE beyond the usual six months that keep an ordinary residence visa valid, and the portal states no maximum absence (as of October 2026).⁵ Holders may sponsor spouses and children, and the golden visa page describes no route to citizenship.⁵

UAE Tax Residency Is Not Automatic

The UAE does not levy income tax on individuals, according to the government portal (as of October 2026).¹⁹ The UAE applies its own statutory residence tests, which could not be confirmed on an official page for this guide, so do not assume a golden visa establishes tax residence there. Japan and the UAE have had a tax treaty in force since 24 December 2014 (as of October 2026).²⁰

United States EB-5: Capital Thresholds, Job Creation, and Targeted Employment Areas (TEA)

Investment Amounts: USD 1,050,000 Standard and USD 800,000 TEA or Infrastructure

For petitions filed on or after 15 March 2022, the minimum is USD 1,050,000, or USD 800,000 in a targeted employment area (TEA) or infrastructure project (as of October 2026).⁹ A TEA is a rural area or an area with unemployment of at least 150% of the national average, and 20% of visas each year are reserved for rural projects, 10% for high-unemployment areas and 2% for infrastructure.⁹

The amounts are indexed to inflation every five years, starting with petitions filed on or after 1 January 2027.⁹ No adjusted figures appeared on the USCIS pages reviewed (as of October 2026), so check USCIS before committing funds.

Ten Full-Time Jobs, Direct vs. Regional Center Investment

Each investment must create full-time jobs for at least 10 qualifying employees. Direct (standalone) investments must create them directly, while regional center investors may count indirect jobs for up to 90% of the requirement.⁹ Capital must be at risk: debt, a guaranteed rate of return or a contractual right to repayment disqualifies it.⁹

The Regional Center Program is authorised through 30 September 2027 (as of October 2026).⁹²¹ The statute’s protection if the program lapses covers only regional center petitions filed on or before 30 September 2026, a date that has passed, so petitions filed now lack it.²¹

From I-526E to Conditional Green Card to I-829

Standalone investors file Form I-526 and regional center investors Form I-526E, followed by consular processing abroad or adjustment of status in the US.²²²³ Approval brings 2 years of conditional permanent residence, and Form I-829 is filed within the 90 days before the second anniversary to remove the conditions.²²

USCIS changed EB-5 fees on 14 November 2025, so take amounts from Form G-1055 rather than older guides (as of October 2026).²³ For visa availability and timing, consult the Department of State Visa Bulletin and USCIS processing times; this guide makes no predictions.

The Green Card Tax Trap: US Tax Residence on Worldwide Income

A green card makes you a US tax resident wherever you live. The IRS treats anyone who is a lawful permanent resident at any time in the calendar year as a resident, until the card is surrendered in writing or terminated.²⁴ The Japan-US tax treaty, in force since 30 March 2004, is the main tool for relief from double taxation.²⁰

Claiming the treaty tie-breaker has a cost. A long-term resident (a green card holder in at least 8 of the last 15 tax years) who claims treaty residence elsewhere without waiving benefits and notifies the IRS on Forms 8833 and 8854 can be treated as ending US residence and fall under the expatriation tax rules.²⁵²⁶ Take US tax advice first.

Note on the US Gold Card (Form I-140G)

USCIS publishes Form I-140G for the Gold Card program created by Executive Order 14351 of 19 September 2025 (form edition 09/11/26).²⁷ The filing fee is USD 15,000 per person, and the instructions require an unrestricted gift to the Department of Commerce of USD 1 million for a self-petitioner plus USD 1 million per accompanying spouse or child, or USD 2 million plus USD 1 million per family member where a corporation petitions (as of October 2026).²⁷

USCIS states that the petition can be filed only through a USCIS online account, after a prior registration on the government’s Gold Card site has been accepted. The program uses the EB-1 or EB-2 (national interest waiver) categories, with visa availability following the Visa Bulletin.²⁷ Rely on USCIS for current filing instructions.

Physical Presence Requirements: Can You Maintain Your Golden Visa Without Living There?

Programme by Programme: Minimum Stay Rules

Minimum stay rules differ widely (as of October 2026):

Portugal ARI: 7 days in the first year and 14 days in later periods. AIMA says each subsequent year, while Law 56/2023 says each subsequent two-year period for converted permits, so confirm with AIMA.⁴¹²
Greece: the official guidance reviewed sets no minimum stay for the permit, but naturalisation needs lawful and permanent residence.⁸²⁸
Italy: a 5-year exemption from continuity-of-stay obligations; later rules could not be confirmed.⁷
UAE: absences beyond the usual 6-month limit are allowed, with no maximum stated.⁵
US EB-5: USCIS treats absence of more than a year as a general guide to abandonment (shorter trips can also count) and recommends a reentry permit (Form I-131) before long absences; absences of 6 months or more can break continuous residence for naturalisation.²⁹
New Zealand AIP: 21 days in 36 months (Growth) or 105 days in 60 months (Balanced), the Balanced figure falling by 14 days per extra NZD 1 million in Growth-category investments, by up to 42 days.⁶

Master Comparison Table: Six Programmes

All figures are minimums as of October 2026; fees and total costs are excluded.

Programme	Minimum investment	Qualifying assets	Minimum stay	Residence type	Residence before naturalisation	Sources
Portugal ARI (fund track)	EUR 500,000	Units of Portuguese non-real-estate funds (5-year maturity, 60% in Portuguese companies); other non-real-estate routes exist	7 days in year 1; 14 days in later periods (confirm counting with AIMA)	Temporary: 2 years, then renewals; permanent ARI possible	10 years (7 for CPLP and EU nationals)	⁴¹²³⁰
Greece	EUR 800,000 or 400,000 by area; EUR 250,000 in special cases	One property (120 sq m in the main tiers)	None found in official guidance reviewed	“Permanent” investor permit, 5 years, renewable	7 years of lawful and permanent residence	¹⁵⁸²⁸
Italy Investor Visa	EUR 2M bonds; EUR 500,000 company or VC fund; EUR 250,000 innovative start-up; EUR 1M donation	No real estate	5-year exemption from continuity-of-stay obligations	Temporary: 2 years, then 3-year renewals	Set by Law 91/1992 (confirm current period)	⁷³¹
UAE Golden Visa	AED 2 million	Public investment (10-year visa) or real estate (5-year visa)	May exceed the usual 6-month absence limit	Long-term residence visa	No route on the u.ae golden visa page	⁵
US EB-5	USD 1,050,000; USD 800,000 in a TEA or infrastructure	At-risk investment in a new commercial enterprise creating 10 jobs	US residence assumed; over 1 year abroad is a general abandonment guide	Conditional permanent residence for 2 years, then permanent	5 years as a permanent resident, 30 months physically present	⁹²²²⁹³²
NZ Active Investor Plus	NZD 5M (Growth, 3 years); NZD 10M (Balanced, 5 years)	Growth: direct investments, managed funds, philanthropy (max 20%); Balanced adds listed equities, bonds, certain property developments	21 days (Growth); 105 days, reducible (Balanced)	Resident visa at grant; permanent resident visa after 3 or 5 years	5 years, with 240 days a year and 1,350 days in total	⁶³³
Spain (closed)	Not available	Investor visa abolished, effect 3 April 2025	Not applicable	Not applicable	Not applicable	¹⁰¹¹

New Zealand Active Investor Plus (Sixth Programme)

Immigration New Zealand offers Growth (NZD 5 million for 36 months) and Balanced (NZD 10 million for 60 months) categories (as of October 2026).⁶ Funds must be invested within 6 months of approval in principle, a resident visa is granted from the outset, and a permanent resident visa can follow after 36 or 60 months once the conditions are met.⁶ Partners and dependent children aged 24 and under may be included, and the page lists no English-language requirement; daily life is covered in the New Zealand destination guide.⁶

Where Presence Rules Meet Tax Residency Rules

Whether a permit makes you tax resident locally depends on each country’s own statutory tests. Portugal treats you as resident if you spend more than 183 days in any 12-month period or keep a home there suggesting habitual residence (CIRS Article 16).³⁴ The Greek and Italian tests could not be confirmed on official pages for this guide, so check them in the destination guides or with a local adviser; the US green card test, by contrast, applies wherever you live.²⁴

Japan keeps taxing your worldwide income while you remain a resident (other than a non-permanent resident), whatever foreign permit you hold.³ Japan has tax treaties in force with all six programme countries, including Greece, whose treaty entered into force on 5 December 2024 (as of October 2026), and tie-breaker rules decide residence when both countries claim you.²⁰³⁵

Path to Citizenship and Naturalization: Language Tests and Dual-Citizenship Issues for Japanese

Residence Years and Language Requirements by Country

Portugal now requires 10 years of legal residence for Japanese and other non-EU, non-Portuguese-speaking nationals (7 years for CPLP and EU nationals) under Organic Law 1/2026, in force from 19 May 2026.³⁰ Procedures pending on that date follow the old rules, so an ARI holder who had not applied by then is under the new law (as of October 2026).³⁰

The Portuguese law also requires a test or certificate of Portuguese language, culture, history and national symbols, plus knowledge of fundamental rights and duties and the organisation of the State.³⁰ Residence periods may be added up, continuous or interrupted, within a 12-year window for nationals of countries outside the EU and the Portuguese-speaking community; whether a few days of ARI presence a year count fully as legal residence is not addressed in the statute text reviewed, so take Portuguese legal advice.³⁰

Greece lists investor permits as qualifying titles for naturalisation, but requires 7 years of lawful and permanent residence, at least 5 years of economic integration and a written exam on Greek language, history, geography, culture and institutions (as of October 2026).²⁸ Low-presence holders should take advice before relying on permit years alone.

Italy requires Italian at CEFR level B1 or above for citizenship by residence, subject to a 2025 Constitutional Court exception for applicants with certified serious limitations (as of October 2026).³¹ The residence period for non-EU applicants is also set by Law 91/1992; confirm it with the Italian Ministry of the Interior or the Italian Embassy in Tokyo.

The US requires 5 years as a permanent resident with at least 30 months of physical presence, 3 months in the state or district, good moral character, basic English and a civics test.³² New Zealand requires at least 240 days of presence in each 12-month period and 1,350 days across 5 years, conversational English and an intention to keep living there (as of October 2026).³³ The UAE golden visa page describes no citizenship route.⁵

Japanese Citizens: Nationality Act Article 11 and Automatic Loss

Foreign permanent residence or a green card does not affect Japanese nationality, because it is a residence status, not a nationality.¹² Voluntarily acquiring a foreign nationality causes automatic loss under Article 11(1), and a loss-of-nationality notification (Kokuseki Soshitsu Todoke 国籍喪失届) is due within 1 month of learning of it, or 3 months if abroad.¹³⁶ Wider departure rules and children’s dual nationality are covered in the citizens vs foreign residents departure rules topic and the dual citizenship for Japanese children topic.

Foreign Residents of Japan: Your Own Nationality Law Applies

Whether naturalising abroad affects your existing nationality depends on your own country’s law. Japanese permanent residence is lost if you leave without a valid re-entry permit or stay abroad beyond it, so long stays in an investment country need planning; see the citizens vs foreign residents departure rules topic.

Japanese Tax Compliance: Foreign Asset Statement (Kokugai Zaisan Chosho) Reporting

flowchart TD
    A["31 December: are you a Japanese tax resident?"] -->|No| X["No Statement of Overseas Assets for that year"]
    A -->|Yes| B["Are you a non-permanent resident (Hi-eijusha)?"]
    B -->|Yes| X
    B -->|No| C["Total overseas assets on 31 December over 50 million yen?"]
    C -->|No| X
    C -->|Yes| D["Value each asset at 31 December and convert at the TTB rate"]
    D --> E["File statement and summary table by 30 June of the following year"]

Who Must File: Residents (Not Non-Permanent Residents) With Overseas Assets Over ¥50 Million

The Statement of Overseas Assets (Kokugai Zaisan Chosho 国外財産調書) is due from residents, excluding non-permanent residents, whose overseas assets total more than ¥50 million on 31 December, with residence status judged as of that date (as of October 2026).³⁷³ A non-permanent resident (Hi-eijusha 非永住者) is a resident without Japanese nationality whose domicile or residence in Japan totals 5 years or less in the past 10 years.³ The statement goes to your income tax office with the summary table (合計表) attached, and e-Tax can be used.³

Deadline (30 June), Valuation and Location of Golden Visa Assets

The deadline is 30 June of the following year, applying from statements for 2023; earlier statements were due on 15 March, which is why older English sources give that date.³ Assets are valued at market value (時価) or a reasonable estimate (見積価額) on 31 December, converted at your bank’s 31 December TTB rate (対顧客直物電信買相場) or an equivalent.³ Location follows the Inheritance Tax Act rules:³

Asset	Location rule (NTA FAQ)	Typical golden visa example
Real estate	Where the property is	A Greek apartment or UAE property is overseas, even if bought through a Japanese business
Deposits	Branch that receives the deposit	A euro account in Lisbon is overseas; a foreign-currency deposit at a Japan branch is domestic
Securities in a book-entry account	Office where the account is opened	Portuguese fund units in an overseas account are overseas; in a Japanese broker’s domestic account they are domestic
Partnership contributions	Principal office of the partnership’s business, or the account office if book-entry	An EB-5 limited partnership interest would normally be overseas (confirm with a Zeirishi)

Foreign partnership interests are valued at net assets in the latest financial statements times your ownership share, or at the amount contributed if no statements are sent.³

Penalties and Incentives: The 5-Point Adjustment and Criminal Sanctions

Timely filing that includes the asset cuts the penalty tax on underreported income or inheritance tax relating to overseas assets by 5 percentage points; not filing or omitting the asset raises it by 5 points, and failing to produce requested documents raises it by 10 (as of October 2026).³⁷ A false statement, or failure to file without justifiable reason, can be punished by imprisonment (Kokin-kei 拘禁刑) of up to 1 year or a fine of up to ¥500,000, though the non-filing penalty may be waived depending on circumstances.³⁷³

The Statement of Assets and Liabilities (Zaisan Saimu Chosho) for Larger Estates

The Statement of Assets and Liabilities (Zaisan Saimu Chosho 財産債務調書) is required if you must file a return, have income over ¥20 million and on 31 December hold assets of ¥300 million or more or exit-tax covered securities of ¥100 million or more; residents with assets of ¥1 billion or more file regardless of income (as of October 2026).³⁸ It is also due on 30 June, and overseas assets already itemised on the Statement of Overseas Assets need only be shown by total value.³⁸³⁹

Other Japan-Side Touchpoints While You Are Still Resident

Investment income: fund distributions, foreign rent and EB-5 project returns form part of a resident’s worldwide income; see the tax residency topic, and the overseas real estate topic for rental losses and depreciation.
Sending the money: remittance statements and the FEFTA payment report are covered in the international money transfers topic.
Buying foreign property: the Bank of Japan’s FEFTA Q&A states that a resident’s acquisition of foreign real estate no longer needs an after-the-fact report, although the remittance may still trigger the payment report.⁴⁰
Leaving Japan later: the exit tax covers securities and silent partnership interests of ¥100 million or more for people with more than 5 years of residence in the past 10.⁴¹ The NTA does not say whether Portuguese fund units or EB-5 partnership interests are covered, so confirm with a Zeirishi and see the departure tax topic.
Inheritance and gifts: see the cross-border inheritance topic.

Year of Departure: When the Reporting Duty Ends

If you are a non-resident on 31 December, no statement is due for that year.³ The NTA FAQ adds that a person who departs (出国) between 1 January and 30 June before filing the previous year’s statement need not file it, where departing means leaving without notifying a tax agent.³ Appointing a tax agent before leaving may therefore keep that statement due, so confirm with a Zeirishi.

Step-by-Step Administrative Procedure & Timeline

Timeline Table: T-12 Months to First Residence Card

Illustrative only; official processing times vary.

When	Key actions	Sources
T-12 to T-9 months	Decide the objective (back-up residence, relocation, children’s education, citizenship); shortlist programmes; check presence and tax consequences; engage a destination immigration lawyer and a Japanese Zeirishi	This guide
T-9 to T-6 months	Request the Japanese police certificate from your prefectural police and check the destination’s legalisation rules; assemble source-of-funds evidence; arrange translations	⁴⁶
T-6 to T-3 months	Open foreign accounts; remit funds (remittance and FEFTA reporting); invest where the programme requires it before filing	⁴⁰⁴⁸
Filing	Portugal: AIMA ARI portal (criminal record within 3 months, debt certificates within 45 days); Greece: MITOS portal; Italy: nulla osta, consular visa, Questura within 8 days, invest within 3 months; UAE: ICP or GDRFA online services; US: I-526 or I-526E; NZ: approval in principle, then 6 months to invest	⁴⁸⁷¹⁷⁵⁹⁶
After grant	Calendar presence days and renewal dates; US: I-829 in the 90 days before the second anniversary	⁴²²
Each 31 December while resident	Value overseas assets against the ¥50 million threshold	³⁷³
Each 30 June	File the Statement of Overseas Assets (and Statement of Assets and Liabilities if required)	³⁷³⁸

Japanese Citizens vs. Foreign Residents: Critical Distinctions

Issue	Japanese citizens	Foreign residents of Japan
Foreign permanent residence or green card	No effect on Japanese nationality	No effect on your nationality, but long absences put Japanese permanent residence at risk without a valid re-entry permit
Naturalising abroad	Automatic loss of Japanese nationality (Article 11(1))	Depends on your own nationality’s law
Statement of Overseas Assets	Due if resident and overseas assets exceed ¥50 million on 31 December	Exempt while a non-permanent resident (5 years or less in the past 10); due afterwards on the same terms
Portugal ARI eligibility	Eligible	Not available to EU, EEA, Swiss or Andorran nationals
Exit tax residence condition	More than 5 years of residence in the past 10	Same test; visa-period counting is covered in the departure tax topic
Lump-sum pension withdrawal	Not applicable	May apply on leaving; see the lump-sum withdrawal topic

For Japanese citizens, the irreversible step is naturalisation abroad, not the golden visa itself. For foreign residents, the main Japanese risks are losing permanent residence through long absences and moving from non-permanent to full resident status, which brings the Statement of Overseas Assets into play.³

Common Pitfalls & Regulatory Compliance Risks

Old citizenship timelines. Portugal requires 10 years for Japanese nationals unless an application was pending on 19 May 2026.³⁰ Fix: check the current statute.
Closed routes. Spain and Portugal’s real estate routes are gone (see above).¹²¹⁰ Fix: confirm the route on the official page.
Minimum vs total cost. Fees include EUR 2,000 plus EUR 16 in Greece, from NZD 27,470 in New Zealand and USD 15,000 per person for the Gold Card (as of October 2026).⁸⁶²⁷ Fix: budget fees, taxes and advisers separately.
Assuming Japanese tax residence ends. Residence follows domicile, not a foreign permit.³ Fix: plan the actual move.
Green card without US tax planning. Permanent residents are US tax residents on worldwide income.²⁴²⁵ Fix: take US tax advice before filing.
Naturalising abroad unawares. Japanese nationality is lost automatically.¹ Fix: decide on nationality first.
Missing the 30 June statement once overseas assets exceed ¥50 million.³⁷ Fix: value assets every 31 December while resident.
Ignoring presence rules. Portugal sets minimum days, the US treats long absences as possible abandonment, and Japanese permanent residence depends on re-entry permits.⁴²⁹ Fix: keep a travel log.
Short-term letting Greek golden visa property. Lets under 60 days through the sharing economy are banned for post-reform property.¹⁵ Fix: check rental rules before buying.
“Guaranteed return” EB-5 offers. Such capital does not qualify.⁹ Fix: have offering documents reviewed independently.
EB-5 timing. Amounts may change from 1 January 2027, and lapse protection covers only regional center petitions filed by 30 September 2026.⁹²¹ Fix: check USCIS just before filing.

References & Official Sources

e-Gov Law Search, 国籍法 (Nationality Act, Act No. 147 of 1950), Article 11, https://laws.e-gov.go.jp/law/325AC0000000147 ↩ ↩² ↩³ ↩⁴
Ministry of Justice, 「国籍Q&A」 (Q12, Q17), accessed October 2026, https://www.moj.go.jp/MINJI/minji78.html ↩ ↩²
National Tax Agency, 「国外財産調書制度（FAQ）」, August 2026 (令和8年8月), Q1, Q2, Q6, Q10 to Q12, Q18 to Q23, Q33, Q52, https://www.nta.go.jp/publication/pamph/hotei/kokugai_zaisan/pdf/kokugai_faq.pdf ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰ ↩¹¹ ↩¹² ↩¹³ ↩¹⁴ ↩¹⁵
AIMA (Agência para a Integração, Migrações e Asilo), “Autorização de Residência para Investimento – Art. 90.º-A”, accessed October 2026, https://aima.gov.pt/pt/viver/autorizacao-de-residencia-para-investimento-art-90-o-a ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰ ↩¹¹ ↩¹² ↩¹³ ↩¹⁴ ↩¹⁵ ↩¹⁶ ↩¹⁷
UAE Government portal (u.ae), “Golden visa”, updated 28 July 2026, https://u.ae/en/information-and-services/visa-and-emirates-id/residence-visas/golden-visa ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰
Immigration New Zealand, “Active Investor Plus Visa”, accessed October 2026, https://www.immigration.govt.nz/visas/active-investor-plus-visa/ ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰
Ministry of Foreign Affairs and International Cooperation (Italy), consolidated Decreto Legislativo 25 luglio 1998, n. 286, Article 26-bis, February 2025, https://www.esteri.it/wp-content/uploads/2025/02/286_1998.pdf ↩ ↩² ↩³ ↩⁴ ↩⁵ ↩⁶ ↩⁷ ↩⁸ ↩⁹ ↩¹⁰
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