How to Open an Overseas Bank Account While Living in Japan [2026]: Which Banks Accept You, and Tax and Reporting Rules

October 19, 2026

Taiga Sato

As of 2026, the countries where you can open a bank account while continuing to live in Japan are quite limited. The realistic option is Hong Kong: if you go in person to a branch of HSBC or another bank, you may be able to open an account even if you do not live in Hong Kong. However, people without a Hong Kong ID who opened an account with HSBC from January 2026 onward are charged HK$100 per month if their balance falls below HK$10,000. In Singapore, people without a local work pass or similar are mostly limited to private-wealth accounts that require depositing assets of US$200,000 or S$350,000 or more. In the United States, a US address and a Social Security number are generally required. If you simply want an easy way to hold foreign currencies, money transfer services such as Wise and Revolut, which are not banks, are another option. Whichever method you choose, information on overseas accounts reaches Japan's National Tax Agency through a framework called CRS, and interest generally has to be reported on a tax return in Japan.

*Amounts and rules are as of October 9, 2026, based on published information. Whether you can open an account is decided by each bank's screening, and this article does not guarantee that an account can be opened. Requirements can also depend on your nationality and the passport you hold. This article is an English version of our Japanese guide, adapted for people living in Japan, whatever their nationality.

Contents

Summary: few overseas accounts can be opened while living in Japan
By country and region: can you open an account while living in Japan?
Hong Kong: open in person at a branch; fees on small accounts from 2026
Singapore: a work pass or private-wealth assets are required
The US, Thailand and others: a local address or long-term visa is assumed
Alternatives to banks: Wise and Revolut
Tax and reporting: CRS, overseas remittance reports and the Statement of Overseas Assets
After opening: dormancy, inheritance and fraudulent "account opening agents"
FAQ
Summary

Summary: few overseas accounts can be opened while living in Japan

People open overseas accounts for many reasons, such as diversifying assets, investing in foreign currencies or preparing to move abroad, but banks in every country have become cautious about opening accounts for non-residents as anti-money laundering measures have tightened. The table below summarizes, by country and region, whether you can open an account while living in Japan.

Country / region	Opening while living in Japan	Main requirements
Hong Kong	Sometimes possible if you visit a local branch in person	Passport, proof of address, an explanation of why you need the account. Interview in English, Cantonese or Mandarin
Singapore	Ordinary accounts are almost impossible	A work pass or other residence status, or assets of US$200,000 or S$350,000 or more (private-wealth accounts)
United States	Generally not possible	A US address and a Social Security number
Thailand	Generally not possible (tightened from May 2025)	A long-term visa, marriage to a Thai national, ownership of property in Thailand, etc.
Wise / Revolut (not banks)	Available with a Japanese address	Registered in Japan as funds transfer service providers, etc. Balances held in the service are not covered by deposit insurance and earn no interest

What really matters with an overseas account is not whether you can open it, but how you maintain it and handle tax afterwards. Small accounts incur fees, and unused accounts become dormant. Account information is sent automatically to the National Tax Agency, and unreported interest will be pointed out later.

By country and region: can you open an account while living in Japan?

Overseas banks are cautious about opening accounts for non-residents because identity checks and checks on the source of funds (KYC) have become stricter. In Hong Kong, in May 2026 the Hong Kong Monetary Authority issued a notice requiring declarations of the source of funds for investment accounts of mainland Chinese investors and the closure of dormant accounts with a zero balance. It does not concern deposit accounts or people from Japan, but it is part of the broader trend toward stricter identity checks.

Before you consider opening an account, check these three points:

Can you travel there? Even at major Hong Kong banks, Japanese passports are not eligible for app-based opening, so Japanese nationals need to visit a branch. Eligibility for online or app-based opening often depends on the nationality of your passport, so check with the bank based on the passport you hold
Can you explain why you need the account? "I want to diversify my assets" is not enough; you may be asked about your ties to the place, such as business or transactions in Hong Kong or plans to live there
Can you maintain the minimum balance? More and more accounts charge a monthly fee if the balance falls below a threshold

Hong Kong: open in person at a branch; fees on small accounts from 2026

Hong Kong is a popular choice for people in Japan who want an overseas account. The conditions at the main banks are as follows.

Bank	Opening without a Hong Kong ID	Balance and fees
HSBC (HSBC One)	Apply at a Hong Kong branch (Mong Kok branch or the main office). Japanese passports are not eligible for app-based opening	For accounts opened on or after January 1, 2026, HK$100 per month if the three-month average total balance is below HK$10,000
HSBC (Premier)	Apply at a branch	Requires a total balance of HK$1,000,000 or more
Hang Seng Bank	Apply at a Hong Kong branch (or a designated branch in mainland China). A passport with a Hong Kong entry record is required	Depends on the account type

According to HSBC's official website, accounts opened up to 2025 are currently not subject to this minimum balance requirement and fee. You are advised to book an appointment by phone or other means before visiting a branch. On the day, you will be asked for your original passport, a document proving your address and a declaration of your country of tax residence (with a taxpayer number such as your Japanese My Number), and there will be an interview about why you need the account and where your funds come from. You may also be asked for a mobile number that can receive messages in Hong Kong. Approval is at the bank's discretion, and it is not unusual for non-residents to be turned down.

From preparation in Japan and what happens on the day, to a comparison of five major banks and maintaining the account afterwards, see How to open a bank account in Hong Kong. An account of an actual opening is in Opening an HSBC Hong Kong account: a first-hand account.

Singapore: a work pass or private-wealth assets are required

Singapore banks generally limit ordinary accounts to people holding a Singapore work pass or similar.

Bank	Opening for people living in Japan
UOB	Foreign nationals apply at a branch with their original passport, proof of address and a work pass (EP or S Pass) or dependant's pass. Applications may be refused without a reason being given
OCBC	Online opening for foreign nationals is limited to holders of electronic passports from Hong Kong, Malaysia, Indonesia and mainland China. Japanese passports are not covered
DBS (Treasures)	Opening a new account in Singapore requires investable assets of S$350,000 or more. Non-residents can open remotely
Citibank (Citigold International)	Investable assets of US$200,000 or more; US$50 per month if you fall below. Applications are not accepted from some countries of residence, so check in advance whether you can apply while living in Japan

In other words, to hold an account in Singapore while living in Japan, you will need to use a private-wealth service that requires substantial deposits. If you are considering moving to Singapore or obtaining permanent residence there, see Moving to Singapore and requirements for permanent residence.

The US, Thailand and others: a local address or long-term visa is assumed

US banks generally require a US address and a Social Security number (SSN). There are exceptions, such as programs for people about to be posted to the US and in-branch opening at banks in Hawaii, but these are not accounts that can generally be opened while living in Japan.

In Thailand, from May 2025 Bangkok Bank made a long-term visa, marriage to a Thai national, ownership of property in Thailand or similar a condition for opening an account. Applications on a tourist visa or a DTV (a long-stay visa for tourism and remote work) have been refused. If you are considering moving to Thailand, see Requirements and costs of moving to Thailand.

Blogs and social media also describe accounts in other countries as "easy to open", but rules and bank policies change frequently. Even if you manage to open one, you may run into problems with maintenance, remittances or inheritance procedures, so it is safer not to open an account without a clear purpose.

Alternatives to banks: Wise and Revolut

If, rather than an "overseas bank account", you just want to hold foreign currency and send money abroad, there are transfer services you can use with a Japanese address.

Service	Registration in Japan	What you can do	Points to note
Wise	Funds transfer service provider (Kanto Local Finance Bureau)	Hold over 40 currencies and get account details for receiving money in 21 currencies, including US dollars, euros, Hong Kong dollars and Singapore dollars. Debit card available	Total balance capped at JPY 1 million (up to JPY 20 million on application). No interest. Not a bank
Revolut	Funds transfer service provider, electronic payment agent and bank agent	Hold over 35 currencies. Yen deposits are held with Minna Bank as the affiliated bank	Generally no local account numbers for foreign currencies (receipt via SWIFT is possible). A My Number is required for international transfers

Neither is a bank, so balances held in these services are not covered by deposit insurance and earn no interest. However, yen deposits made through Revolut are treated as deposits with Minna Bank. Think of them less as a substitute for an overseas bank account and more as convenient tools for receiving foreign currency and paying abroad.

Tax and reporting: CRS, overseas remittance reports and the Statement of Overseas Assets

Having an overseas account does not keep it hidden from Japan's tax authorities. The three main mechanisms are as follows.

Mechanism	What it does
CRS (Common Reporting Standard)	Overseas financial institutions report account information (balances, interest, etc.) of people living in Japan to their local tax authority, and it is passed on to Japan's National Tax Agency. Japan began exchanging information in 2018
Overseas remittance reports	Japanese banks report remittances abroad and incoming payments from abroad exceeding JPY 1 million to the tax office
Statement of Overseas Assets	Residents whose overseas assets total more than JPY 50 million as of December 31 must submit it to the tax office by June 30 of the following year

Between July 2024 and June 2025, the National Tax Agency received about 2.745 million records of account information on Japanese residents through CRS from 101 countries and regions. About 2.72 million were individual accounts, with balances of about JPY 9.6 trillion.

Interest on deposits at overseas banks is not subject to separate withholding taxation (20.315%) like Japanese deposits; instead, it is interest income that you report on your tax return together with your other income. Interest in foreign currency is converted into yen at the mid-rate on the day it is received. Employees whose income other than salary is JPY 200,000 or less a year may not need to file a tax return, but a separate local inhabitant tax declaration is still required. Tax withheld abroad may be eligible for the foreign tax credit. Check how to report with a tax accountant.

Taxes and procedures when you move abroad and become a non-resident of Japan are explained in Taxes and residence registration when moving abroad.

After opening: dormancy, inheritance and fraudulent "account opening agents"

Unused accounts become dormant

According to HSBC Hong Kong's FAQ, savings and current accounts are treated as dormant after 24 months without transactions, and time deposits after 12 months. Reactivating a dormant account may require identity verification or a visit to a branch. When you live in Japan, an account can easily become dormant without you noticing, so it is safest to make at least a small transaction once a year.

Inheritance procedures are burdensome

If the account holder dies, Hong Kong banks will not release the deposit to the heirs without a Grant of Representation issued by the High Court of Hong Kong. A simplified procedure exists if the estate in Hong Kong is HK$50,000 or less, but a Hong Kong procedure is needed separately from any procedure in Japan. Joint accounts pass to the surviving holder. It is also important to tell your family that the account exists.

Beware of "overseas account opening agents"

Japan's Financial Services Agency has warned that when a non-bank business takes fees or opening funds to act as an agent in opening accounts at overseas banks with no presence in Japan, it is "highly likely to be fraud" (2015 warning). Only licensed foreign bank agency banks may act as intermediaries in Japan for opening accounts at overseas banks. You can check a business's registration on the Financial Services Agency's website.

FAQ

Can I open an overseas account while living in Japan?

Only in a limited number of countries. In Hong Kong, you may be able to open one if you visit a branch in person. In Singapore, ordinary accounts are difficult without a work pass or similar, and private-wealth accounts require substantial assets (US$200,000 or S$350,000 or more). In the United States, a US address and a Social Security number are generally required.

Can I open an overseas account entirely online?

Major Hong Kong banks do not offer online opening for Japanese passport holders, so you need to apply at a branch. Some services, such as DBS's private-wealth service, can be opened remotely, but require substantial assets. Wise and Revolut can be registered online, but they are not banks.

Will the tax office find out if I open an overseas account?

Yes. Through CRS, overseas financial institutions' information on accounts of people living in Japan reaches the National Tax Agency. Remittances abroad of more than JPY 1 million from Japanese banks are also reported to the tax office.

Is interest on an overseas account taxed?

Yes. Interest on deposits at overseas banks must generally be reported in Japan on a tax return as interest income. Unlike Japanese deposits, the tax is not settled by withholding.

Where should I open an overseas account?

It depends on your purpose. If you just want to hold part of your assets in foreign currency, first consider whether a foreign currency deposit at a Japanese bank or a transfer service such as Wise is enough. If you have business or plans to live in Hong Kong and can travel there, a Hong Kong bank is an option.

Summary

Few overseas accounts can be opened while living in Japan. Hong Kong is the realistic option, and you need to visit a branch in person
For accounts opened at HSBC Hong Kong from January 2026, people without a Hong Kong ID are charged HK$100 per month if their total balance is below HK$10,000
Singapore requires a work pass or substantial assets; the United States requires a US address and a Social Security number
If you just want to hold foreign currency, Wise and Revolut are options (they are not banks)
Overseas account information reaches the National Tax Agency through CRS. Interest generally has to be reported on a tax return, and if your overseas assets exceed JPY 50 million you must submit a Statement of Overseas Assets
Watch out for dormancy, inheritance procedures and fraudulent account opening agents

Our office does not act as an intermediary or agent for opening overseas bank accounts. We handle translation and apostille of the Japanese documents required for opening accounts or moving abroad (family register certificates, certificates of residence, bank balance certificates, etc.), and consultations comparing destination countries. If you would like help working out which documents you need or how to choose a destination, please use our free consultation. We can assist in English and Japanese, and we never use pushy sales tactics.