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@seobts02 EVERY SINGLE TIME someone chimes in with this. Please do a little research if you don’t know what you’re talking about. If she was dual citizen at birth she doesn’t need to renounce. She only needs to choose a nationality and if she chooses Japan then she should “endeavor” to...

@kristhuy It is the correct way to do it if you're going to put this into an Excel file with a row for each purchase and sale. So for a sale you'd put a row with a negative quantity and set the FMV to the cost basis at the time of sale.

@ethzz 3-5M? That’s completely useless. My company has all employees insured for 20M (30M for directors and up).

@nafis4268 Please re-read the replies, I made a mistake and edited my comments.

@nafis4268 Yup. Even if it’s never remitted to Japan, it still counts as a gift. Edit: sorry, made a mistake on the duration. You’re in the clear. But still, the way the money is transferred doesn’t change the applicability of the tax if it had been applicable.

@neuric Haven’t they dropped that stupid city thing recently?

@rogueebear AAAARRRGGHH!! Why do they make it sooooo complicated?!?!!? Why can’t it be the same duration for both income and inheritance. I ALWAYS get it wrong 😑 What trips me is that I got a big gift from my parents 10 years ago and at that time the law was different and it was 5 years...

@nafis4268 Have you been a resident in Japan for more than 5 years 10 years? If yes, you’ll have to pay gift tax on that money which will suck. If not, park it in a NISA growth and tsumitate. You can’t add a lump sum to an iDeCo so that’s moot.

@createinmeanewheart Better look at the detailed documentation for these target retirement funds as they tend to be ultra conservative/risk averse with very high allocation to bonds very early.

@narrowisthepath Transferring an ETF or really any security to an overseas broker is basically impossible.

@narrowisthepath None of the brokers in Japan will let you do this.

@ethzz I really was replying to this specific comment and to the many posters around here who believe 10M¥ is 1%er level income and you can drive a lambo with this mad amount of cash.

@dotk3033 The bar for “fuck you”money is way way higher than what you imagine. When you have one or two kids and start thinking of international school, 15M¥ isn’t so huge anymore.

@glabrousdory4 I don’t see why you’d need to close the bank account. You’re a Japanese citizen, banks don’t ask citizens to close accounts when they leave the country. If the total inheritance was less than 30M + 6M * number of statutory heirs, then there are no taxes to pay. How much is the...

@bigoink Foreign currency accounts are not insured at all, if that’s what OP is concerned about.

@heekun2017 I don't have data for single incomes but look at the second graph on this page https://www.jil.go.jp/kokunai/blt/backnumber/2023/08_09/kokunai_02.html and you'll see 11% of households make more than 10M income in a year. Please do share if you have a better source. I'll have to...

@tinks For reference, 15M¥ puts you in the top 5-6% of households income in Japan.

@victoria37 I looked at refinancing but the fees for opening the new mortgage can be so high that it makes very little sense unless you're 100% sure that you're staying in place for 20 more years.

@ethzz Do you always buy and sell 1:1? I don't see any cost basis calculation in your spreadsheet.