Investor visa for Americans clears another hurdle

15 Aug 14

ISRAEL

IMPACT – MEDIUM

What is the change? Israel has approved a measure to provide investor visas to Americans, completing a reciprocal agreement in which the U.S. will provide similar visas to eligible Israeli investors.

What does the change mean? The new visas will allow American and Israel investors, along with their families and essential employees, to stay and work in each other’s countries.

  • Implementation timeframe: Implementation is expected soon, but no official date has been set.
  • Visas/permits affected: A new Israeli B-5 visa.
  • Who is affected: U.S. nationals interested in investing in Israel.
  • Impact on processing times: None.

Background: In June 2012, U.S. President Barack Obama approved a measure to allow Israeli investors, their families and executives in their companies to enter the U.S. with E-2 visas, but its implementation depended on reciprocal action in Israel. On Aug. 13, 2014 the Israeli Knesset approved a decision to offer new B-5 visas to Americans investing in Israeli businesses. Senior officials at the Ministry of Interior stated that the visa will allow American investors, their family members and key employees to live in Israel at first for one year, but their stays may be extended upon demonstration of job creation in Israel.

BAL Analysis: Israel’s Ministry of Interior is expected to issue regulations on procedures for the B-5 visas soon.

This alert has been provided by the BAL Global Practice group and our network provider located in Israel. For additional information, please contact your BAL attorney.

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