Tsumitate NISA
2023 was the last year contributions could be made to a Tsumitate NISA. For investments from 2024, a new combined NISA with a lifetime allowance is available. See the NISA article for more details.
The Tsumitate NISA (つみたてNISA) is a tax-efficient investment account designed for monthly investments into Japanese-domiciled mutual funds. The annual limit that could be invested was ¥400,000. Investments made in a particular year are free of capital gains and dividend tax for 20 years. New investments can no longer be made into an existing Tsumitate NISA, but existing investments will remain tax-free until their tax free period expires.
The Tsumitate NISA scheme was planned to last for 20 years, which would have allowed for a maximum of ¥8M to be invested at ¥400k/year for someone starting in 2018. However, the scheme ended pre-maturely in 2023, so it was only possible to invest a maximum of ¥2.4M of the projected ¥8M allowance over the six years the account was available from 2018-2023.