Residence and work permit in Israel for investors from the United States, their families, and their expert employees
The Population and Immigration Authority in Israel released recently a new guideline that allows U.S. citizens and employees on their behalf, who are senior executives or experts with essential and unique knowledge, to stay and work in Israel to manage and develop a business venture. In addition, the guideline prescribes that family members of such investors and employees from the United States are allowed to stay and work in Israel.
This guideline is relevant to investors who have at least 50% ownership, or who have operational control, in a corporation or for-profit business established in Israel, and that the control and management therein are done in Israel. The investor must prove that he has invested a significant capital in the interest of the venture, which is expected to be sufficient for its successful operation and that it is a venture that may generate economic growth and create new workplaces in Israel.
As mentioned, the guideline allows the investor to obtain a foreign investor visa (B/5) that allows his stay in Israel. Senior executives of the enterprise, or essential employees with unique expertise or knowledge who are citizens of the United States, are also eligible for a residence permit and work permit (B/51). The investor’s and the venture’s employees’ spouse are eligible for a residence, and work permit (B/52) and their children up to the age of 21 are eligible for a residence permit (B/53). The visas are granted for an initial period of two years and can be extended if needed as long as the business venture is active.
The application for the visas should be filed at one of the Israeli consulates in the United States (Washington, New York, Houston or San Francisco) and must be accompanied by various documents and approvals, such as incorporation documents, financial statements, business licenses, affidavits and other general information about the nature of the business venture in Israel. Appropriate applications will be discussed by an inter-ministerial advisory committee, which includes representatives from the Ministry of the Interior, the Ministry of Finance and the Ministry of Economy and Industry, who will discuss the request and forward its recommendation to the Interior Minister for a final decision
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For further information, please contact:
Adv. Amit Bechler abechler@fbclawyers.com +972-3-6069656
