Legal basis:
– Venture Investment Promotion Act.
A foreign person who intends to file for registration as a venture investment company shall meet all the following requirements:
Firstly, the person shall be a stock company, limited company, limited liability company or a corporation and the amount of its capital and the ratio of loans to its capital shall meet the requirements;
Secondly, none of its executive officers shall fall under any of the following items:
– A minor, a person under adult guardianship, or a person under limited guardianship;
– A person declared bankrupt and not yet reinstated;
– A person in whose case five years have not passed since his/her imprisonment without labor or heavier punishment sentenced by a court was completely executed or he or she was discharged from such imprisonment;
– A person who is under suspension of the execution of imprisonment without labor or heavier punishment sentenced to him/her by a court;
– A person in whose case five years have not passed since the complete execution of, or the exemption from, a fine or heavier punishment sentenced to him or her for a violation of the finance-related regulation;
– A person who is under suspension of the execution of imprisonment without labor or heavier punishment sentenced to him or her for a violation of the finance-related regulation;
– A person who was an executive officer at the time the registration was canceled and five years have not passed since being notified of the cause of the revocation of registration of the investment venture company or seven years have not passed since the date of cancellation of such registration;
– A person who was an executive officer of the venture investment company whose registration was revoked and five years have not passed since the date of revocation of registration of the venture investment company;
