Summary

In Japan, foreign companies have the option to lease or buy privately or publicly held land. In order to lease public land, the prospective lessee must meet certain statutory requirements and the relevant public authority must agree to lease the land. In most cases, public land is sold through a public auction. There are no restrictions on the amount of land that may be leased. The maximum legal duration of lease contracts is unlimited. The usual duration of most leases is 30 years. The lease contract can offer the lessee the right to sublease and/ or mortgage the leased land, subject to the terms of the contract. Registration of leases is not mandatory. Although registration is not required for a lease to be valid, it is enforceable against a third party only if it has been registered. Most land-related information may be obtained from the land registry, geographic information system (GIS), or land information system (LIS).