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The State of Israel A Tax Benefit Paradise for Foreign Residents, New Immigrants & Returning Israelis
Lior Pick & co Law Offices 2 Hanechoshet St., Ramat Ha'chayal, Tel Aviv, ISRAEL Tel: +972-3-5105002 Fax: +972-3-5105025 E-mail: office@pick-law.com
office@pick-law.com:
2. There is no estate tax in Israel, and no gift tax apart from a gift to a "foreign citizen" of a taxable assets and capital gains in Israel. 3. An exemption from capital gains tax for Foreign Residents on the sale of securities registered and traded on the TASE by foreign residents 4. An exemption from Capital Gains tax for Foreign Residents on the sale of shares in an Israeli company (or foreign company, provided that most of its assets are in Israel), subject to a number of terms and conditions. 5. An exemption from Income tax on interest on bank's deposits by foreign residents and/or new immigrants. 6. An exemption from tax for foreign residents on income from interest and linkage differentials on bonds traded on the TASE (subject to certain terms and conditions). 7. An exemption from tax on residential rent up to approx. 900 per month per individual. Alternatively, a reduced tax rate of only 10% on residential rents (without the deduction of expenses, credits or exemptions). 8. An exemption from betterment tax in Israel on the sale of an absolved residential apartment (under certain terms and conditions), once every four years (or 18 months when this is the only apartment). Furthermore, there are prescribed tax exemptions on land swapping, vacating and construction transactions, on certain transfers as a gift to a relative, on legacies, on transfers from a trustee to a beneficiary, on transfers to a land association, on transfers from a land association under dissolution.
New immigrants are entitled to an exemption from purchases tax up
to a sum of approx. NIS 1.4 million (approx. 280,000), as at February 2010 and on the balance they should pay 5%.
Lior Pick & co Law Offices 2 Hanechoshet St., Ramat Ha'chayal, Tel Aviv, ISRAEL Tel: +972-3-5105002 Fax: +972-3-5105025 E-mail: office@pick-law.com '- 2, , -, +972-3-5105002 : +972-3-5105025 : office@pick-law.com:
9. Section 6 of the agreement between Israel and France (from 1963) prescribes that the tax on income from property assets (real estate) in Israel to be paid by a French citizen will only be paid in Israel (the place and which the land is located). The opposite holds true for an Israeli citizen who invests in real estate in France. Section 13 of the agreement adds that earnings produced from transferring land will be taxed in the engaging country in which the aforementioned land is located. 10. A low company tax rate (compared with other countries). In 2011, a fixed rate of 24% - to be reduced by 1% per year until 18% in 2016. 11. Foreign citizen trust Under certain conditions, no tax liability shall apply to trusteeships and Israeli citizen beneficiaries. 12. An investment in a REIT fund An alternative to a direct investment in real estate, enables distributing the investment over a number of assets, even when the investments is not high. A further advantage negotiability, compared with a direct investment in real estate. 13. An exemption from capital gains tax in Israel for foreign investors in hedge funds. The aforementioned contains nothing to serve as an opinion and/or an alternative to individual legal taxation advice. We will be happy to be at your disposal for any queries and or explanations regarding this or any general matter. Our office specializes in taxation advice (income tax, betterment tax, VAT) and also accompanies real estate, company and international transactions.
Lior Pick & co Law Offices Yours 2 Hanechoshet St., Ramat Ha'chayal, Tel Aviv, ISRAEL Tel: +972-3-5105002 Fax: +972-3-5105025 E-mail: office@pick-law.com