Tokushima Taisho Bank Account Type

Tokushima Taisho Bank offers various types of investment accounts for its clients, primarily focusing on designated (特定) accounts. The main types include:

• General Accounts (一般口座):
• Least regulated, providing access to a broad range of products.
• Investors are responsible for all tax calculations and declarations regarding capital gains.
• Designated Accounts (特定口座):
• More regulated and automates tax calculations.
• Two sub-types:
• No-Withholding Accounts (源泉徴収なし):
• Brokerage calculates annual taxable gains/losses and sends a report to the account holder and the tax authority.
• The account holder is responsible for declaring gains and paying taxes.
• Withholding Accounts (源泉徴収あり):
• Brokerage calculates gains/losses and withholds taxes at the time of taxable events.
• Allows the investor not to declare income generated within the account on their tax return.

Tokushima Taisho Bank Broker Account Opening Process

Opening a brokerage account with Tokushima Taisho Bank involves several steps:

• Eligibility:
• Must be a resident of Japan and meet the bank's requirements.
• Documentation:
• Prepare necessary identification documents, such as a photo ID (driver's license or residence card) and My Number card.
• Application:
• Complete the application form online. Non-Japanese citizens may need to opt for a paper application.
• KYC Process:
• Submit KYC (Know Your Customer) documents, including proof of income, assets, and employment.
• Account Type Selection:
• Choose between general, no-withholding, or withholding designated accounts based on investment needs.
• Confirmation:
• Wait for the bank to process the application and confirm the account setup.
• Funding the Account:
• Fund the account through bank transfers or other accepted methods.

For more detailed information, please refer to the official Tokushima Taisho Bank website or contact their customer service.