Is It Possible for Foreigners to Open a Business in Israel?

You have heard many times that there is nothing impossible – just try, and you will get everything you need. It is a true statement if we talk about foreigners opening a business in Israel. There are some points that an entrepreneur should know.

  • Paper issues

First of all, you should get to know all necessary details about getting a visa and permitted duration of stay in Israel. Note that having a business does not mean that you will get permission to live and work in this country.

  • Israeli representative

Each foreign businessman has to have a representative who is a resident of Israel. It is an obligatory condition for registering a company because it ensures paying of all necessary taxes to local authorities.

Moreover, a non-resident cannot register a business, because he/she does not have an Israeli ID card. There can be an exception in the case you are undergoing a procedure for getting the citizenship. However, in such a situation, in addition to your temporary ID number you will need a guarantor who already has citizenship.

Business in Israel

If you do not get an Israeli passport, you can register a company in the Limited Liability Company format (Ltd). However, you will also need a resident guarantor who will undertake tax obligations.

How to Find a Guarantor?

If you do not have any family members or friends in Israel, you can appeal to a trust company, which usually consists of lawyers and auditors. Such firms will serve as your sponsor during the registration process. You can learn more about one of such companies on https://auditing.co.il/en/

So, while it is possible for foreigners to open a business in Israel, first of all, any entrepreneur has to deal with citizenship issues or find a local guarantor for paying taxes properly. More details by link: https://auditing.co.il/en/bookkeeping-services/business-in-israel-for-foreigners/