TOKYO, Dec 16 (News On Japan) –
The Ministry of Justice introduced that nationality reporting will turn out to be obligatory when registering actual property reminiscent of condominiums, reflecting rising calls to higher perceive possession developments amid rising condo costs and elevated exercise within the housing market.
Hiraguchi stated at a press convention after the December sixteenth Cabinet assembly that the brand new rule would require people registering property—together with condominium purchases, newly constructed properties, and inherited actual property—to offer their nationality as a part of the applying course of. Authorities plan so as to add a nationality area to registration paperwork and confirm the knowledge by passports or different identification, however no penalties will likely be imposed for non-compliance.
The submitted nationality knowledge is not going to seem in publicly accessible registry data. Instead, will probably be saved internally and shared throughout authorities ministries and companies to assist coverage planning and administrative oversight.
A public remark course of will start in late December, with implementation focused throughout fiscal 2026.
Source: FNN