Useful information
PLANNED VAT REDUCTION IN ISRAELBeginning January 2010 Israeli authorities have reduced the VAT to the level of 16%. ...
REQUIREMENTS FOR DOCUMENTS FOR OPENING OF A CORPORATE BANK ACCOUNT IN FIBI
List of necessary documents 1) Account Opening Form, signed by authorized persons of the company or representatives of the company acting on the basis of the power of attorney (as stated in the legal opinion), plus specimen signature card, duly completed and signed. In accordance with the directives of the Bank of Israel the abovementioned...
ISRAELI LEGISLATION ON MONEY LAUNDERING
Main requirements of the Act on the Prohibition of Money Laundering enter into force in Israel. The main purpose of this law is to let the authorities locate funds derived from the criminal activity. Financial institutions of Israel must identify customers in accordance with a set of rules and regulations and to report on certain financial...
ISRAELI HOLDING COMPANIES
Reform of Israeli tax legislation eliminated the possibility of using local companies as a means of avoiding taxation. Nevertheless, under certain conditions, Israel provides tools, very attractive for foreign investors, while keeping all options of the State, which gained the confidence of the international financial community. First of all,...
BANKING SYSTEM OF ISRAEL
Small Israel today has about 20 banking institutions. A relatively large number of banks is due to several factors, including the amount of capital of each bank, size of its target audience, type of activity and so on. Israeli banks can be divided into several groups. First of all, 5 leading commercial banks, holding the largest number of...