Government to Centralize Management of Foreign Real Estate Ownership, Aiming for 2027 Launch with Mandatory Nationality Registration
The Japanese government is reportedly moving forward with the establishment of a database to comprehensively understand and centrally manage real estate owned by foreign nationals in Japan. The system aims to become operational in fiscal year 2027, with the goal of increasing transparency regarding foreign real estate acquisitions, which have previously been inadequately tracked, and addressing potential national security risks. Specifically, the government plans to introduce a nationality registration system for cases where nationality disclosure is not currently mandatory under existing regulations, such as in the real estate registration of condominiums. Leveraging Real Estate Base Registry, Scrutiny Extends to Corporate Ownership The core of this new management system will be a database utilizing the "Real Estate Base Registry," which the Digital Agency is developing. This database will enable detailed recording and management of which foreign nationals own which proper...