Tokyo Star Bank launches remote account opening service for non-residents

Tokyo Star Bank has launched a new service today for non-residents to open a deposit account in Japan without having to come physically to Japan. The service will first target residents of Taiwan, and then expand to residents of Hawaii.

Amid the growing number of Japanese initiatives to attract inbound investment, the number of non-residents opening bank accounts continues to increase accordingly, with the number of applications for “Tokyo Lucky Star,” a real estate investment loan available to residents of Taiwan with Republic of China (Taiwan) passports for the purchase of real estate in Japan, exceeding 15 times the number of applications in 2023 compared to 2022.

We started considering this service in response to the growing need to open a Japanese bank account without leaving Taiwan, and to promote business between Japan and Hawaii in cooperation with Central Pacific Bank, which is located in Hawaii and with which we formed a business alliance last year. Central Pacific Bank, is considering this service for its customers in Hawaii who want to open a Japanese bank account for their personal and business affairs in Japan.

Overview

Account Opening Process

All procedures are done by email. After applying to open an account with Tokyo Star Bank, the required documents and other information will be sent to the applicant. Then after returning the required documents and information, Tokyo Star Bank will conduct various screening (as a result of screening, Tokyo Star Bank may ask applicants to open an account in person).

Available Products

Non-resident JPY Ordinary Deposit Account, and Non-resident Foreign Currency Savings Account (USD).

With a large number of Chinese and English-speaking staff, Tokyo Star Bank focuses on offering unique products and services, including non-resident accounts and loans for purchasing Japanese real estate. By leveraging Tokyo Star Bank’s broad experience and the network of their parent bank, CTBC Bank headquartered in Taipei, Taiwan, the bank will continue to strengthen cross-border business.

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