Togaku Account Type

　　Togaku offers several types of brokerage accounts designed to meet the needs of various investors. These accounts typically include:

• 　　General Account (一般口座): This is the default account type that provides access to a broad range of investment products. Investors are responsible for all tax calculations and declarations related to capital gains.

• 　　Designated Account (特定口座): This account automates tax calculations, simplifying the tax filing process. There are two sub-types:

• No-Withholding Account (源泉徴収なし): The brokerage calculates annual taxable gains/losses and provides a transaction report, but the account holder must declare gains and pay taxes.
• Withholding Account (源泉徴収あり): The brokerage calculates gains/losses and withholds taxes on taxable events, allowing the account holder not to declare income on their tax return.

• 　　NISA Account (NISA口座): This account allows for tax-free investments up to 1,200,000 yen per year for five years, similar to a Tax-Free Savings Account (TFSA) in Canada.

• 　　iDeCo Account (iDeCo口座): A private pension fund account that offers tax benefits for retirement savings.

  　　

　　

Togaku Broker Account Opening Process

　　To open a brokerage account with Togaku, follow these steps:

• 　　Eligibility: Ensure you meet the eligibility requirements, including residency in Japan and the necessary identification.

• 　　Complete Application: Fill out the application form online. Non-Japanese citizens may need to opt for a paper application due to KYC (Know Your Customer) regulations.

• 　　Submit Documents: Mail in required KYC documents, which typically include:

• A copy of your photo ID (driver's license or residence card).
• Your My Number card or notification card.
• Financial information such as income and assets.

• 　　Account Type Selection: Choose the type of account you wish to open (General, Designated, NISA, or iDeCo).

• 　　Verification: Wait for the brokerage to verify your information and documents.

• 　　Funding Your Account: After approval, fund your account through a Japanese bank account.

• 　　Start Trading: Once your account is funded, you can begin trading securities.