- How to open an SBI Securities account as a foreigner
- Which index funds to choose for your NISA (eMAXIS Slim explained)
- How to set up automatic monthly investing (積立NISA)
- SBI vs Rakuten Securities: which is better for foreigners?
- The SBI Hybrid Deposit: how to earn 1.0% on your savings alongside investing
SBI Securities is Japan’s largest online brokerage and one of the best platforms for foreigners to invest in NISA. Open a regular securities account first, then open NISA within it. The most popular fund for foreigners is eMAXIS Slim 全世界株式 (All-Country World Index) at 0.05774% annual fee — one of the cheapest globally. Monthly automatic investment is set up in 10 minutes.
SBI Securities is Japan’s largest retail brokerage by number of accounts. For foreigners investing in Japan’s NISA (tax-free investment account), SBI and Rakuten Securities are the two top choices. Here’s a complete walkthrough of opening and using SBI Securities as a foreigner.
Why SBI Securities for Foreigners?
SBI Securities advantages:
- Largest selection of low-cost index funds (including all eMAXIS Slim funds)
- Zero trading fees on most NISA-eligible funds
- SBI Hybrid Deposit (最大1.0% on savings linked to SBI Sumishin Net Bank)
- T-Point integration for small extra rewards
- Established, regulated by Japan FSA
Drawbacks for foreigners:
- Interface is Japanese-only (Chrome translate works for most functions)
- Customer support in Japanese only
- Account opening takes 1–2 weeks
Can Foreigners Open an SBI Securities Account?
Yes — most foreign residents can open an account:
Eligible:
- Resident in Japan with a valid Residence Card (在留カード)
- Tax resident of Japan
- Must certify tax residency country (for CRS/FATCA compliance)
US citizens: SBI Securities has historically been difficult for US citizens due to FATCA compliance burdens. Some US citizens report successful account opening; others are rejected. Current status: ask directly (policy changes periodically).
Required documents:
- Residence card (在留カード)
- My Number (individual number) — required for tax reporting on investment accounts
- Email address and phone number
- Japanese bank account for linking
Difference: Securities Account vs NISA
You must open both:
Securities account (特定口座/tokutei kouza): Your main brokerage account. All investments go here first in theory. Gains taxed at 20.315%.
NISA account: A tax-exempt wrapper within your securities account. Invest here for tax-free returns. Only one NISA account per person in all of Japan.
The order: Open securities account first → wait for approval → open NISA within the account.
How to Open an SBI Securities Account
Step 1: Apply Online
Visit sbi-sec.co.jp → 口座開設 (Account Opening)
Fill in:
- Name (romaji and Japanese katakana)
- Date of birth
- Address
- Nationality and tax residency
- My Number
Step 2: Submit Documents
Upload photos of:
- Residence card (front and back)
- Confirmation of My Number
Step 3: Wait for Approval
Processing: 5–10 business days. Notification by email + physical letter with login details.
Step 4: Log In and Open NISA
After account approval:
- Log in to SBI Securities
- Go to 口座管理 (Account Management) → NISA口座開設
- Confirm NISA registration (required with Japan’s tax authority)
- Wait 1–2 more weeks for NISA activation
Best Funds for NISA at SBI Securities
The #1 Recommendation: eMAXIS Slim 全世界株式 (オール・カントリー)
What it is: A global equity index fund tracking the MSCI All-Country World Index. Invests in 2,900+ companies across 47 countries.
Why it’s best for most investors:
- Annual management fee: 0.05774% — one of the lowest in the world
- No minimum investment amount
- Diversified across US (60%), Europe (20%), Japan (6%), emerging markets (14%)
- Managed by Mitsubishi UFJ Asset Management (stable)
Ticker: eMAXIS Slim 全世界株式（オール・カントリー）
Alternative: eMAXIS Slim 米国株式 S&P500
What it is: US-only index fund tracking the S&P 500 (America’s 500 largest companies)
Fee: 0.09372% annually Why choose this over All-Country: If you believe US markets will continue outperforming. More concentrated risk, historically higher returns.
Head-to-Head: All-Country vs S&P500
| All-Country | S&P500 | |
|---|---|---|
| Countries | 47 | 1 (US) |
| Companies | ~2,900 | 500 |
| Annual fee | 0.05774% | 0.09372% |
| US exposure | ~60% | 100% |
| Risk | Lower (diversified) | Higher (concentrated) |
| 10yr historical return | ~10–12%/year | ~13–15%/year |
Recommendation: All-Country for beginners and those who want simplicity. S&P500 for those who are comfortable with US concentration.
Setting Up Automatic Monthly Investing (積立NISA)
The Tsumitate (積立) investment account allows automatic monthly contributions.
In SBI Securities:
- Log in → ファンド検索 (Fund Search) → find your chosen fund
- Click 積立 (Regular Investment)
- Set amount: ¥33,333/month fills the ¥400,000 annual Tsumitate NISA limit
- Set date: Choose a fixed date each month
- Set payment: Link your bank account or use SBI Hybrid Deposit
After setup: your chosen amount invests automatically each month. No action needed.
The SBI Hybrid Deposit: Earn 1.0% While Waiting to Invest
What it is: SBI Sumishin Net Bank offers a special savings account linked to SBI Securities accounts.
How it works:
- Keep cash in SBI Sumishin Net Bank
- Interest rate: up to 1.0% APY (highest available on Japanese savings accounts for most)
- Transfer to SBI Securities instantly when you want to invest
The setup: Open SBI Sumishin Net Bank account alongside your SBI Securities account. The process links them automatically.
See our best savings account guide for the full comparison.
SBI Securities vs Rakuten Securities for Foreigners
| Feature | SBI Securities | Rakuten Securities |
|---|---|---|
| Fund selection | ✅ Excellent | ✅ Excellent |
| Interface | Japanese | Japanese |
| Linked savings | SBI Sumishin (1.0%) | Rakuten Bank (0.2% base) |
| Points program | T-Point, Pontaポイント | Rakuten Points |
| Best for | SBI banking users | Rakuten ecosystem users |
| Foreign-friendliness | Similar | Similar |
The practical answer: Both are excellent. Choose based on which ecosystem you’re already in. If you have Rakuten Card/Bank → Rakuten Securities. Otherwise → SBI.
NISA Tax Benefits: Why This Matters
Without NISA: 20.315% tax on all capital gains and dividends.
Example: 10-year investment of ¥3,600,000 (max annual) at 7% annual return
- Without NISA: Pay ~¥350,000+ in taxes on gains over 10 years
- With NISA: ¥0 tax on all gains — permanently
This is a significant difference over a long investment horizon. Every foreigner in Japan who plans to stay more than 2–3 years should open a NISA account.
Frequently Asked Questions
Can foreigners open a NISA account at SBI Securities? Yes — foreigners with a valid residence card and My Number card can open a NISA account at SBI Securities. US citizens may face additional hurdles due to FATCA requirements.
What is the best fund for NISA in Japan? eMAXIS Slim 全世界株式 (オール・カントリー) is the most recommended fund for most investors — ultra-low 0.05774% annual fee, global diversification, and available at SBI and Rakuten Securities. eMAXIS Slim S&P500 is the alternative for those who want US-only exposure.
How much can I invest in NISA each year? The new NISA (Shin NISA) from 2024 allows up to ¥3,600,000 per year — ¥1,200,000 in the Tsumitate account and ¥2,400,000 in the Growth account. Lifetime limit: ¥18,000,000.