Creating a Company in Israel
Creating a company in Israel is necessary to pursue business in the country. If you don’t plan to register a foreign company in Israel, creating some type of local company is the only way to move forward with business ventures.
The natural question is: What kind of company should you create for this purpose? The law firm Cohen, Decker, Pex & Brosh has helped many clients create the type of company suited to their needs. Creating a company in Israel is quite simple and requires little documentation. However, it is necessary to follow certain procedures.
CREATING A COMPANY IN ISRAEL
When one wishes to create a company in Israel, they must register it in the Registrar of Israeli Companies, Rasham HaHaverot, located in Jerusalem.
DOCUMENTS THAT HAVE TO BE PROVIDED
- Company bylaws. All applications must include a copy of the company’s bylaws.
- The declaration of the first shareholders. This statement is a document in which each shareholder must acknowledge they are not prohibited by law or by verdict from being or becoming a shareholder.
- The statement of the first director. This document states that the director is willing to be the director.
- Proof of payment. Registering a company costs approximately 2,500 shekels.
Legal help in registering a company
Each of these documents will need a lawyer’s signature to recognize and certify the veracity of all the elements present in the various declarations. When a person involved in establishing the company is not an Israeli citizen, it will be necessary to provide a photocopy of their passport.
After verification of all documents, the Registrar of Companies will issue a registration number, which will be the identity number of the new company.
A company must have an accountant for the annual certification of its accounts. The accountant is responsible for the monthly accounting and the drafting of the annual report. Every year a company has to pay a fee to the Registrar of Companies. However, only a partial payment is required if the fee is paid in advance.
Finally, in the event a company wishes to change its bylaws, it must report this to the Registrar within 14 days of the decision.
CONTACT US – CREATING A COMPANY IN ISRAEL
These procedures and options are numerous and complex, thus it is recommended to call on lawyers who specialize in this work. Our firm Cohen, Decker, Pex & Brosh can provide you with legal advice and assistance in your administrative procedures.
: 03-3724722, 055-9781688