New NISA Calculator

Since January 2024: permanent (no expiry), ¥3.6M combined annual cap (¥1.2M tsumitate + ¥2.4M growth), ¥18M lifetime cap (of which max ¥12M for growth). Both quotas can be used simultaneously, and sold positions free up the cap — a huge upgrade over the old tsumitate/ippan system.

Tsumitate = monthly auto-invest into FSA-approved low-fee index funds/ETFs (eMAXIS Slim, SBI V series). ¥1.2M/yr. Growth = lump sum or regular into a wider universe including individual stocks, REITs, and actively managed funds. ¥2.4M/yr. Most people should max tsumitate first, then use growth for extra capacity.

For tsumitate: eMAXIS Slim All-Country (0.05% fee), eMAXIS Slim S&P 500 (0.08%), or SBI V S&P 500. All trust fees below 0.1%, tracking major global indices. Keep it simple — the tax-free wrapper matters more than fund selection over 20+ years.

Taxed at a flat 20.315% (15% national + 5% resident + 0.315% reconstruction) on capital gains and dividends. A ¥1M gain outside NISA = ¥203,150 in tax. The same ¥1M gain inside NISA = zero tax. Over 20+ years of compounding, the NISA wrapper saves hundreds of thousands of yen.

Yes — they are complementary. iDeCo: upfront tax deduction on contribution, locked until 60, up to ¥23-68k/month depending on employment. NISA: no upfront deduction, fully liquid, larger annual cap. Max iDeCo for the tax deduction, then direct remaining savings into NISA.

Each tax year you can hold only ONE NISA account across all providers. Open via SBI Securities, Rakuten Securities, Monex, or Matsui — free of fees and with the widest fund selection. Foreigners need a My Number Card and residence card. Application takes 2-3 weeks; first contribution available from the year of approval. To switch provider for the next tax year, submit the transfer form by October 1 — contributions paid in the current year stay at the old provider but retain their tax-free status.