NISA Complete Guide for Foreigners【2026 · Eligibility, Brokers, Leaving Japan】
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📋 Table of Contents
- Japan residents can open a NISA account regardless of visa type (My Number and a Japanese address are required).
- The New NISA (from 2024) offers up to ¥3.6 million/year and ¥18 million lifetime in tax-free investment, combining Tsumitate and Growth investment allowances.
- Before you leave Japan and become a non-resident, you must notify your broker (by the day before departure): either a "Notification for Continued Application of the Tax-Exempt Account" (available only in limited cases such as an employer-ordered transfer, including an accompanying spouse) or an exit notification. If this is not completed, your holdings may be moved to a taxable account or sold by the broker.
- Opening an account requires proof of your My Number (for example, a My Number card, or a Juminhyo showing the number) and your residence card; the documents and procedures differ by broker. SBI Securities, Rakuten Securities and Monex Securities all accept foreign residents.
What is NISA?
NISA (Nippon Individual Savings Account) is Japan's tax-free investment scheme. Normally, stock/fund profits are taxed at 20.315%, but profits in a NISA account are tax-free in Japan (no income tax or resident tax) when the conditions are met. The "New NISA" launched in 2024 with significantly expanded limits.
Are Foreigners Eligible?
Conclusion: Anyone classified as a "Japan tax resident" can open a NISA account, regardless of visa type. Three universal requirements: ① Japanese address (printed on residence card) ② My Number ③ Age 18 or older as of 1 January of the year you use NISA (from 2027, a separate Tsumitate allowance for ages 0–17 is scheduled — see below).
| Visa Status | NISA |
|---|---|
| Permanent / Spouse of Japanese | ○ Yes, if you are a Japan resident |
| Work visa | ○ Yes, if you are a Japan resident |
| Dependent | ○ Yes, if you are a Japan resident |
| Student | ○ Yes, if you are a Japan resident aged 18+ |
| Tourist / short-term | × Not eligible |
Eligibility depends on whether you are a resident for tax purposes (not on the type of visa); each broker also screens applications and sets its own document rules.
NISA Types
- Tsumitate (Accumulation) Frame: ¥1.2M/year — for long-term dollar-cost averaging
- Growth Frame: ¥2.4M/year — for individual stocks, ETFs, REITs
- Total: Up to ¥3.6M/year, ¥18M lifetime cap, indefinite tax exemption
Coming in 2027: Under the FY2026 tax reform, a Tsumitate allowance for children aged 0–17 is scheduled to start on 1 January 2027 (annual limit ¥600,000; lifetime limit ¥6 million). Withdrawals from it are restricted, and from age 12 they are possible only under certain conditions; at 18 the account moves to the regular adult allowances. See the National Tax Agency summary of the reform (May 2026) ↗ and the FSA site for details.
Documents & Application Steps
- Open a brokerage account (SBI, Rakuten, Monex). Foreign nationals must apply by mail at SBI Securities and Monex Securities (online express opening is not available); procedures and times vary by broker
- Apply for NISA simultaneously
- The tax office checks afterwards that you do not hold another NISA account (typically 1–2 weeks); many brokers let you start investing before this finishes, but practice varies by broker
- Fund the account and start investing
Required: your residence card (or special permanent resident certificate), proof of your My Number (for example, a My Number card, or a Juminhyo showing the number) and a Japanese address. Brokers may ask for additional items (for example, a bank account for deposits).
3 Recommended Brokers
- SBI Securities: accepts foreign residents (mail application), ¥0 NISA trading commission (conditions apply)
- Rakuten Securities: Rakuten Point integration, ¥0 NISA trading commission (conditions apply)
- Monex Securities: offers US stocks, ¥0 commission on NISA trades
For step-by-step account opening and a comparison of online brokers, see our guide to opening a brokerage account.
When You Leave Japan
The biggest concern for foreigners is becoming a "non-resident":
- Short trip abroad (under about 1 year): If you do not become a non-resident, no NISA procedure is normally needed (Rakuten Securities, for example, says no procedure is required for an absence of under 1 year) — check with your broker
- Overseas transfer ordered by your employer (including an accompanying spouse): by filing a "continued application" notification with your broker by the day before departure, you may keep the tax-exempt status; new purchases are not allowed while you are abroad, and the account is closed if you have not filed a return notification by 31 December of the year 5 years after filing
- Other cases, including permanent departure: file an exit notification with your broker by the day before departure; the tax-exempt account is closed and holdings move to a regular account. Check with your broker and a tax professional before you leave
Tax & Filing
- NISA trades require no tax filing in principle
- NISA profits are tax-free in Japan (no income tax or resident tax) when the conditions are met
- NISA losses cannot be offset against gains in other accounts
- US stock dividends face 10% US withholding (unavoidable; Japan side remains tax-free)
Frequently Asked Questions (FAQ)
Sources & References
- Financial Services Agency "NISA Special Website" — ↗
- National Tax Agency "No.1535 NISA System" — ↗
- Financial Services Agency "NISA FAQ" — ↗
- National Tax Agency "Q&A on NISA and Tsumitate NISA" (procedures when leaving Japan) — ↗
- National Tax Agency "Summary of the FY2026 tax reform: capital gains etc." (May 2026) — ↗
Foreign residents in Japan can use NISA
Regardless of residence status, with a My Number and a Japanese address you can open a NISA account. See each broker's requirements, steps and comparison in our brokerage account guide.
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