Japan’s immigration agency plans to tighten the rules for granting business manager visas as the program has increased in popularity.

The new rules would require a minimum capital investment of 30 million yen ($203,000) compared with the current 5 million yen as well as requiring employment of at least one staff, according to a document published on Tuesday. Inbound entrepreneurs will also need to pass educational and experience checks and have their business plans vetted before being eligible for the five-year residence permit.

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Japan has tried to attract entrepreneurs to the country to launch businesses with mixed success. About 41,000 people had business manager visas in Japan last year, compared with around 27,000 in 2020, according to an official at the agency. The proposed changes will ensure more appropriate acceptance of foreign business managers and align more closely with international practices, according to the agency’s statement.

The revisions are expected to take effect from mid-October and the agency is currently seeking public comment on the proposed changes.