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Register Company in Israel
The first thing you would need to know as an investor who is thinking about setting up and running a company in Israel is that it is going to be a different kind of business world from one you may already be familiar with.
What’s unique about the business market in Israel is that there is a business opportunity to match a lot of lifestyle varieties, even the niche ones hold opportunities to be grabbed.
Registering a company in Israel – What you need to know
Registering a company in Israel requires some amount of paperwork to be done. And because English is not one of the main languages in this region, some translation of the official documents may be required which you would need to prepare for.
The first thing you would need to know about starting a business in Israel is that the country’s official languages are Hebrew and Arabic. But while this may be the case, corporate documents in English will still be accepted by the Registrar of Companies.
However, the Registrar of Companies will require that the Articles of Association be translated into Hebrew, so enlisting the help of a professional services company would be the best way to go about this to ensure all documents are translated accurately and accordingly.
A company that has been incorporated offices may establish a branch or a local office in Israel, as long as this branch or local office is registered as a foreign company with the Registrar of Companies within a month of its establishment.
Investors can choose to set up a business as a private limited liability company, a public limited company, foreign company, self-employed, partnership, non-profit, corporation or a branch office.
Registering a company in Israel – The steps you need to take
The process of registering a company in Israel basically follows the same type of format. To register a company in Israel, investors would need to complete the following steps:
- Ensure that the company registration documents have been certified by an attorney officially. The documents required are Form No. 1, the Memorandum of Association, Articles of Association that have been signed by the shareholders and the affidavit from the Director’s stating competence to serve.
- File the necessary documents with the registrar of companies at the Ministry of Justice
- Get registered for taxes at the Ministry of Finance, Income Tax Department and the National Insurance Institute. No registration fees are usually charged for this process. You would need to bring along copies of the registration documents.
- Get registered for VAT at the Ministry of Finance, Customs and VAT Department
When registering at the VAT, the authorities would usually require your bank account details so keeping all the documents handy is a good idea. Preparing everything that you need beforehand will make the registration process a much smoother one.
All business which are registered in Israel must have their business registration renewed annually. Because of the paperwork involved and the translation that needs to be done, it is advisable for prospective investors to enlist the help of professional services company to make things easier.
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