GSL / Offshore and International Law. Offshore companies registration. / Offshore zones / Middle East / Israel / Legislation of Israel

Legislation of Israel

Service packages Legislation Tax System Audit Services

List of laws and regulations

Act name
Scope of law
Israel Company Law 1999
Company Law
Israel Agency Law
Agency Law
Israel Copyright Law 2007
Copyright Law
Israel Accounting Standards
Accounting Standards
Prohibition on Money Laundering Law 2000
Money Laundering Law
The Draft Civil Code for Israel
Civil Code
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Tax treaties entered

Azerbaijan
Austria
Great Britain
Belarus
Latvia
Belgium
Poland
Brazil
Bulgaria
Canada
China
Croatia
Czech Republic
Denmark
Estonia
Ethiopia
Finland
France
Georgia
Germany
Greece
Hungary
India
Ireland
Italy
Jamaica
Japan
Korea
Lithuania
Luxembourg
Macedonia
Malta
Mexico
Moldova
Netherlands
Norway
Panama
Philippines
Portugal
Russia
Romania
Singapore
Slovakia
Slovenia
USA
South Africa
Spain
Sweden
Switzerland
Taiwan
Thailand
Turkey
Ukraine
Uzbekistan
Vietnam

Tax Exchange Information Agreement (TIEA)

None

List of state regulatory authorities

Knesset
https://knesset.gov.il/
Prime Minister's Office
https://www.gov.il/en/departments/prime_ministers_office/govil-landing-page
Israel Courts
https://www.gov.il/en/departments/the_judicial_authority/govil-landing-page
Ministry of Justice
https://www.gov.il/en/departments/ministry_of_justice/govil-landing-page
Registrar of Companies
https://www.gov.il/en/departments/topics/registrar_of_companies/govil-landing-page
Bank of Israel
https://www.boi.org.il/en/
Israel Tax Authority
https://www.gov.il/en/departments/about/about-israel-taxes-authority

Corporate info

Legal system
Mixed (local non-codified laws, English case law, religious law)
Types of entity
Individual entrepreneur;
Limited liability company;
Public company;
Cooperative;
Branch of a foreign company
Shelf companies permitted
Yes
Incorporation timescale for a new company
3 workdays
Company suffix
Compulsory
Sensitive words
royal, government, cooperative, municipal, chartered, chamber of commerce, imperial, society of association
Cyrillic alphabet permitted in company name
No
Local registered office
Yes
Local registered agent
No
Information to be kept at the registered office
books of accounts, minutes of meetings of the board of directors, shareholders
Seal required, type of seal
Seal is not required
Redomiciliation (to, from) permitted
Allowed

Director and secretary

Minimum number of directors
1
Residency requirements for directors
None
Corporate directors permitted
No
Directors’ meetings/frequency/location
No requirements
Disclosure to local agent
Yes
Disclosure to public
Yes
Company secretary required
None
Residency requirements for a secretary
None
Qualified secretary required
No
Corporate secretary permitted
No

Shareholder and beneficiary

Minimum number of shareholders
1
Residency requirements for shareholders
None
Corporate shareholder permitted
Yes
Meetings/frequency/location
Yes / annually / no requirements
Disclosure to local agent
Yes
Disclosure to public
No
Beneficiary info disclosure to
No

Shares and share capital

Minimum authorized share capital
10,000
Minimum issued share capital
Not set
Minimum paid share capital
Not set
Authorized capital payment deadlines
Not set
Issued capital payment deadlines
Not set
Standard currency
Shekel
Standard authorized share capital
10,000
Standard par value of shares
1 shekel
Shares with no par value permitted
No
Bearer shares permitted
No

Taxes

Personal tax
0-47%
Сorporate tax
23%
Corporate tax (in detail)
Corporate income tax rate is 23%
Capital gains tax
15-30%
Capital gains tax. Details
Capital gains from the sale of shares is taxed at the rate of 25% if there is no control. Otherwise the rate of 30% applies
VAT
17%
VAT. Details
Export of goods and certain services, and some other transactions are taxed at a zero rate, and some transactions are exempt from tax
Withholding tax
15-30% / 23% / 20-30%
Other taxes
Real estate tax, land value increment tax, exit tax, employers’ national insurance contributions
Exchange control
None
Government fee
-
Stamp duty
None

Accounts

Requirement to prepare accounts
No
Requirement to file accounts
No
Publicly accessible accounts
No
Requirement to file Annual Return
None
Publicly accessible Annual Return
No
Audit required
No

General information shortly

Location
Middle East
Total area
20,770 sq. km
Population
9,459,260 (2022)
Capital
Jerusalem
National currency
Shekel (new)
Conditional reduction of currency
ILS
Against USD
0,27 (2022)
Climate, average max and min t°
humid Mediterranean climate; average temperature in January is +10°С, average temperature in July is +32°С
Time difference from Moscow
1 hour (none in the summer)
Dialing code
+972
State language
Hebrew
Ethnic groups
73.9% ¬- Jews; 21.1% - Arabs (Christians, Moslems and Druzes); 5% - national minorities
Literacy rate
97.8%
History
—
Credit rating
A+
Government type
Parliamentary republic
Executive branch
Government headed by prime minister
Legislative branch
Knesset – unicameral parliament (120 deputies)
Judicial branch
Magistrate courts, district courts, Supreme Court; special tribunals; religious courts
Unemployment
4.2% (2020)
GDP per capita rank
55 (2017)
Corruption perceptions index rank
36 (2021)
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