Author Info for Barnea Jaffa Lande & Co.

Eldar Adato

Much More than 66% – Must-Know Changes in the Urban Renewal Field

After years of expectations, the government has approved the legislative amendments needed to promote “Urban Renewal” projects in Israel. While everyone is talking about the amendment lowering the threshold of consent for…more

Affordable Housing, Amended Legislation, Apartments, Condominiums, Housing Developers

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Terry Almozlino Arnon

Simulated Contracts and Concealed Agreements

In a new ruling addressing the legal validity of simulated contracts and the agreements concealed behind them, the Israeli Supreme Court significantly weakens the standing and legal validity of these contracts, while making it…more

Commercial Real Estate Contracts, Contract Terms, Israel, Purchase Agreement, Real Estate Transactions

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Alon Anava

Israeli Private Companies and Prospectus Obligations

A considerable number of Israeli private companies raise funds and approach prospective investors without a comprehensive understanding of the regulatory obligations mandated by the Securities Law. A pivotal provision in this…more

Capital Raising, Corporate Governance, Crowdfunding, Investors, Israel

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Fadi Atallah

Tax Aspects of Cryptocurrency-Based Compensation to Employees

Share-based compensation is the most popular reward method among employees and service providers in many industries today, especially the high-tech industry. From the grantee’s point of view, the receipt of options enables a…more

Compensation, Cryptocurrency, Equity Compensation, Exercise of an Option, Incentive Stock Options

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Shai Avnieli

Court Ruling Could Change the Status of Lump-Sum Contracts

The construction sector uses two main types of contracts. The first type, called a “measurement contract,” is a contract whose underlying principle is accuracy. In this type of contract, the contractor’s consideration is…more

Construction Contracts, Construction Industry, Construction Litigation, Construction Project, Contract Disputes

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Rahaf Awawdi

The Profit Test for Dividend Distribution – Israeli Court Ruling

The Israeli Companies Law provides for two tests a company’s board of directors must perform to approve a resolution to distribute dividends. The first test is the “profit test” and the second is the “solvency test.”…more

Board of Directors, Companies Law, Corporate Governance, Dividends, Fiduciary Duty

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Michael Barnea

Doing Business in Israel through Agents and Distributors

Most international companies prefer operating in Israel through domestic business partners, rather than setting up their own local operation. Such local partners – distributors or agents – assume all or a portion of the local…more

Agents, Antitrust Provisions, Commercial Contracts, Competition, Contract Terms

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Shay Bello

Supreme Court Dismisses Nespresso Suit against Espresso Club

The Supreme Court recently dismissed an appeal by Nestlé, the Swiss multinational food and drink processing conglomerate, and its subsidiary corporation Nespresso, filed against our client, the Israeli company Expresso Club. The…more

Advertising, Appeals, Copyright, Copyright Infringement, Dismissals

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Gal Ben David

Five Things You Didn’t Know about Impact Investing

In the last decade, impact investments have become an international trend to address global challenges in the areas of environment, welfare, health, employment, and education. In light of the development of the impact…more

B Corporation, Corporate Governance, Corporate Social Responsibility, Environmental Social & Governance (ESG), Investment Funds

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Hagit Ben Moshe

From Agricultural Lands to Business Projects: How to Overcome Challenges along the Way

Over the last decade, agricultural communities in Israel have become increasingly attractive. They are attractive for investors looking to invest in existing industries, as well as for entrepreneurs seeking to establish business…more

Agribusiness, Agricultural Land, Commercial Use, Economic Development, Farms

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Dana Ben-Yehuda

The Israeli Approach to Anti-Dilution Rights

Two of the tools investors can use to minimize the risks they take and preserve their holding percentage in a company are the anti-dilution protection and pre-emptive rights. These very important rights are customarily included…more

Anti-Dilution Terms, Corporate Governance, Investors, Israel, Share Price

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Moran Bickel

Arbitration Clauses in International Agreements – Do’s and Don’ts

Contractual engagements inevitably beget legal disputes. Even the best agreement is no guarantee the engagement will succeed. Accordingly, one of the most important provisions in any commercial agreement is the provision that…more

Arbitration, Arbitration Agreements, Arbitration Awards, Breach of Contract, Contract Drafting

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Ilan Blumenfeld

Conditional Payment (Earn-Out)

In merger and acquisition (M&A) transactions, the earn-out mechanism serves as a strategic tool for conditional payment based on the prospective performance of the acquired entity. This mechanism is particularly prevalent in…more

Acquisitions, Buyers, Contract Negotiations, Earn-Outs, EBITDA

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Irit Brodsky

Merger Parties Fined for Exchanging Sensitive Information

At the end of May, the Israel Competition Authority’s Director General published a consent decree with Mizra Delicacy Food Industries and Zilber Meat and Sausage Products Industries. Both companies agreed to pay approximately…more

Antitrust Provisions, Competition Authorities, Confidential Information, Consent Decrees, Data-Sharing

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Netta Bromberg

Imputed Value on Usage of Company Car as Income during Swords of Iron War

At the beginning of November 2023, the Israel Tax Authority published special instructions granting concessions to employees issued a company car who were subsequently called up for emergency reserve duty under an Order 8 or…more

Company Cars, Israel, Military Conflict, Military Service Members, Relief Measures

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Maya Carmi Lubartovski

Israel: Improved Purchase Tax Benefit for New Immigrants

New immigrants to Israel who purchase a first residence will pay significantly lower purchase tax rates than the tax payable according to the current benefit, after the Knesset Finance Committee recently approved an amendment to…more

First Time Homebuyers, Immigrants, Israel, Land Transfer Taxes, Proposed Amendments

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Amichai Cohen

Risk to Israeli Entities Posed by International Sanctions – What Is the Exposure and What Are the Dangers?

The executive order signed by United States President Joseph Biden in February 2024 states that the violence being committed by Israeli settlers has reached intolerable levels; poses a serious threat to peace, security, and…more

Banks, Biden Administration, Canada, Compliance, Economic Sanctions

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David Cohen

Advantage to Israeli Banks When Self-Exercising a Deposited Pledge

A deposited pledge is an arrangement enabling lenders to receive efficient, inexpensive, and readily available collateral from borrowers to secure credit. However, the current legislative arrangement in Israel differentiates…more

Banking Sector, Banks, Collateral, Foreign Banks, Insolvency

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Liron Dahan

State Must Create a Temporary Framework for Insolvency Procedures in Light of COVID-19

The coronavirus pandemic has wreaked extensive economic havoc on the activities of many businesses and households in Israel. According to data from the Commissioner of Insolvency Proceedings, 2020 brought a rise of about 41% in…more

Coronavirus/COVID-19, Financial Distress, Insolvency, Israel, Ministry of Justice

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Hanna Daher

New Israeli Court Ruling on Artificial Transactions

A recent court ruling in the Shalam Packaging Products Group case addressed claims made by the Netanya tax assessor. The assessor argued the group executed a restructuring solely to reduce its tax liabilities by offsetting…more

Business Losses, Business Taxes, Capital Gains, Debt Restructuring, Insurance Claims

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Alon Davidovich

New Israeli Court Ruling on Artificial Transactions

A recent court ruling in the Shalam Packaging Products Group case addressed claims made by the Netanya tax assessor. The assessor argued the group executed a restructuring solely to reduce its tax liabilities by offsetting…more

Business Losses, Business Taxes, Capital Gains, Debt Restructuring, Insurance Claims

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Ariella Dreyfuss

A Share Deal or An Asset Deal in Israeli Mergers & Acquisitions?

You have identified an Israeli target company to purchase. Now the question is – how to structure the acquisition? There are two traditional routes in Israeli private M&A transactions. The first is to purchase the shares of the…more

Acquisitions, Asset Purchase Agreements, Asset Purchaser, Change of Ownership, Complex Corporate Transactions

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Michael Dubin

State Must Create a Temporary Framework for Insolvency Procedures in Light of COVID-19

The coronavirus pandemic has wreaked extensive economic havoc on the activities of many businesses and households in Israel. According to data from the Commissioner of Insolvency Proceedings, 2020 brought a rise of about 41% in…more

Coronavirus/COVID-19, Financial Distress, Insolvency, Israel, Ministry of Justice

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Eran Elharar

Israel Securities Authority: Oversight of Unsupervised Entities

In recent times, there has been an increasing trend of supervision by the Israel Securities Authority (ISA) over non-supervised entities. This may seem paradoxical: if these entities are not under supervision, why does the ISA…more

Capital Raising, Cooperation, Corporate Governance, Enforcement, Enforcement Authority

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Roy Engel

US Regulatory Authorities Look to Increase Hedge Funds’ Transparency and Stability

In early February 2024, the Commodities Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) announced new disclosure rules. These rules will apply to hedge funds and to managers of other private…more

CFTC, Commodity Pool, Disclosure Requirements, Form PF, Hedge Funds

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Anat Even-Chen

New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders

The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment…more

Comment Period, Draft Guidance, European Banking Authority (EBA), Financial Conduct Authority (FCA), Israel

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Ido Freund

The Companies Registrar Rears Its Head – Financial Sanctions for Failing to File Reports

In the past, when companies failed to submit annual reports, the Companies Registrar was satisfied with issuing warning letters. However, recently, we have noticed a change in policy, as the Companies Registrar has increased…more

Annual Reports, Corporate Governance, Disclosure Requirements, Enforcement, Enforcement Authority

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Zvi Gabbay

Regulation in the Past Year: A Summary of Key Changes and Outlook for the Future

Most of the focus over the past year has been on the events of October 7 and the ensuing war. Not only the citizens, but also the legislative and regulatory authorities in Israel have been devoting most of their time to deal…more

Anti-Money Laundering, Anti-Terrorism Financing, Bank of Israel, Capital Markets, Corporate Governance

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Inbar Gorelick

Femtech in Israel: The Challenges, Opportunities, and Legal Considerations Every Company Needs to Know

The field of women’s health technology (FemTech) is rapidly evolving, and Israel is considered one of the global leaders, ranking fourth worldwide in the number of FemTech companies. Additionally, Israel ranks second in global…more

Digital Health, Medical Devices, Mental Health, Regulatory Requirements, SaaS

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Sagi Gross

Tax Benefits to NGOs in Israel and “Public Purposes”

Israel (like other countries) provides support to NGOs in the form of tax benefits granted subject to the fulfillment of defined criteria and conditions. The purpose of these benefits is to support the social and public…more

Israel, NGOs, Public Agencies, Public Purpose, Tax Credits

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Itay Gura

Raising Early Stage Financing for Your Start-Up? The Do’s and Don’ts You Must Know

Raising financing is tricky, stressful and for many involves navigating uncharted waters. It is an art and an important skill to master to ensure the future of your start-up. Whether your first investment comes when you simply…more

Business Valuations, Capital Raising, Contract Negotiations, Investors, Israel

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Ophir Hammer

ISA Seeks to Expand Authority beyond Securities Offenses

The Israel Securities Authority recently published a draft bill to amend the Securities Law. The amendment would give the ISA the power to investigate related offenses committed in addition to securities offenses. Under the…more

Amended Legislation, Corporate Governance, Enforcement Authority, Israel, Israel Securities Authority (ISA)

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Amit Harel

Important updates on the Israeli money market reform

The Israel Securities Authority has published several additional revisions to the Israeli money market reform since the Knesset approved legislative amendments designed to promote competition in the money market, and since the…more

Fund Managers, Government Bonds, Investment Adviser, Israel, Israel Securities Authority (ISA)

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Uri Hillel

Compulsory Online Reporting to the Registrar of Companies

On June 27, 2022, the Israeli legislature promulgated Amendment No. 2 to the Digital Communications with Public Bodies Law and Amendment No. 35 to the Companies Law. This amendment prescribes, inter alia, a new procedure…more

Amended Legislation, Annual Reports, Corporate Governance, Digital Communications, Filing Deadlines

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Hadar Israeli

Document Subpoena from US Authorities: Critical Steps

Receiving a document subpoena from the DOJ, the SEC, or any other US regulatory authority is a stressful and unpleasant situation. Things may seem even more stressful and complicated if you are a foreign national or company…more

Attorney-Client Privilege, Compliance, Confidential Information, Cooperation, Criminal Liability

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Ran Karmi

Regulation in the Past Year: A Summary of Key Changes and Outlook for the Future

Most of the focus over the past year has been on the events of October 7 and the ensuing war. Not only the citizens, but also the legislative and regulatory authorities in Israel have been devoting most of their time to deal…more

Anti-Money Laundering, Anti-Terrorism Financing, Bank of Israel, Capital Markets, Corporate Governance

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Karin Kashi

2022: Trends in Israeli and International Privacy Regulations

2022 saw significant regulatory developments in the field of privacy protection in Israel and throughout the world. These developments directly affect companies whose business activities in Israel and internationally involve the…more

Data Privacy, Data Protection, European Economic Area (EEA), General Data Protection Regulation (GDPR), Personal Data

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Inbar Katzir

Advisory Board Agreements in Israel

Almost every entrepreneur comes across the term “advisory board” in the very early stages of developing its startup. But what does this term really mean? An advisory board usually consists of a number of external advisors who…more

Advisory Board, Board of Directors, Corporate Governance, Early Stage Companies, Entrepreneurs

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Liat Keisary Yahalomi

Married and Common-Law Couples – Division of Property

The Israeli Supreme Court recently handed down an important ruling addressing the issue of division of property between common-law spouses. Specifically, the ruling changes the “presumption of property sharing” arrangement…more

Cohabitation, Cohabitation Agreements, Common Law Marriage, Division of Assets, Israel

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Haguy Kessel

The Courts and the Metaverse – Service of Process through NFTs and Other Innovations

In several recent precedent-setting rulings, courts in England and New York have allowed plaintiffs in fraud cases involving cryptographic assets to complete service of legal process to unknown defendants directly on the…more

Blockchain, Cryptocurrency, Digital Wallets, Israel, Non-Fungible Tokens (NFTs)

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Omer Keydar

Class Action Lawsuit

Many class action proceedings end in settlement. The settlement agreement is designed, inter alia, to facilitate an efficient and fair resolution to the proceeding, in a manner that also provides certainty to the parties…more

Class Action, Class Certification, Israel, Settlement Agreements

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Avishay Klein

Board of Director’s responsibility for data security in a company

The Israeli Privacy Protection Authority recently published a binding directive addressing the board of director’s responsibilities for the fulfillment of a company’s obligations prescribed in the Privacy Protection Regulations…more

Board of Directors, Data Privacy, Data Protection, Data Protection Authority, Data Security

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Daphna Klein

Contracts, Signatures, and Smileys: Are Emojis Legally Valid?

A few weeks ago, a Canadian farmer sent a text message to a company he worked with that included a thumbs-up emoji, which symbolizes approval or agreement. To his surprise, the Canadian court treated this emoji as the farmer’s…more

Consent, Contract Formation, E-Signatures, Emoji, Signatures

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Daniel Kleinman

Amutot and PBCs Set to Independently Update Details and Information

The Israeli website “GuideStar,” which provides information about Amutot (One of the common types of non-profit organizations in Israel) and PBCs, launched a new and important interface that enables these organizations to…more

Israel, Nonprofits, Portal, Public Benefit Corporation

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Shani Kolton

Israeli Regulations Restrict Enrollees in Managers’ Insurance Plans

The Knesset Finance Committee recently approved an amendment to regulations designed to restrict new enrollees in managers’ insurance plans. This amendment will come into effect on September 1, 2023, and is likely to affect,…more

Amended Regulation, Employer Contributions, Employment Contract, Israel, Managers

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Michal Koren

New ISA Rules on Foreign Brokers’ Supervision of Marketers

As of February 10, 2024, new rules will apply to foreign entities that want to offer securities brokerage services via their marketers in Israel. The Israel Securities Authority promulgated these rules in December 2023, as part…more

Affiliate Marketers, Brokers, Capital Markets, Foreign Entities, Israel

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Raz Landau

How to Conduct Board and Committee Meetings

In recent years, we have witnessed a sharp increase in the number of lawsuits filed in Israel against officers and directors of companies and a broadening of the scope of their liability. As a result of their roles, directors…more

Board Meetings, Board of Directors, Books & Records, Companies Law, Corporate Governance

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Zohar Lande

Supreme Court Dismisses Nespresso Suit against Espresso Club

The Supreme Court recently dismissed an appeal by Nestlé, the Swiss multinational food and drink processing conglomerate, and its subsidiary corporation Nespresso, filed against our client, the Israeli company Expresso Club. The…more

Advertising, Appeals, Copyright, Copyright Infringement, Dismissals

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Yuval Lazi

Legal Aspects of SAFEs (Simple Agreement for Future Equity)

One common problem of early-stage ventures is the difficulty in determining a company valuation when recruiting capital from investors. This problem derives from the tension between entrepreneurs’ desire for a high valuation (in…more

Capital Raising, Discounted Cash Flow Valuations, Early Stage Companies, Entrepreneurs, Investors

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Ronit Lerer

Companies without a Control Core – Draft Bills Calls for Changes

The Ministerial Committee for Legislation has recently re-approved the draft amendment to the Israeli Companies Law. The aim of this amendment is to improve the corporate governance rules applicable to companies with no…more

Audit Committee, Board of Directors, Controlling Stockholders, Corporations Code, Diversity

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Dor Levi-Tam

Conditional Payment (Earn-Out)

In merger and acquisition (M&A) transactions, the earn-out mechanism serves as a strategic tool for conditional payment based on the prospective performance of the acquired entity. This mechanism is particularly prevalent in…more

Acquisitions, Buyers, Contract Negotiations, Earn-Outs, EBITDA

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Lior Girshevitz

Israel: Amendment to the Prevention of Sexual Harassment Law

The Knesset recently promulgated an amendment to the Prevention of Sexual Harassment Law. This is an important legislative amendment protecting a large group of employees who are largely at the bottom of the organizational…more

Amended Legislation, Anti-Retaliation Provisions, Effective Date, Employer Mandates, Internal Investigations

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Gal Livshits

Informal Agreements or a Binding Contract?

Everyone knows what a contract means. But what does a “non-binding contract” mean? Does it encompass, for example, a memorandum, meeting minutes, a document containing nonspecific points of consent in principle? A recent Israeli…more

Binding Agreements, Contract Formation, Contract Termination, Israel, Meeting Minutes

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Guy Marcovici

Bank of Israel Continues to Regulate Use of Cryptocurrencies

Israel’s financial regulatory authorities are regulating virtual currencies (cryptographic currencies) due to their steady increase in use. For example, the Capital Market, Insurance and Savings Authority (CMISA) issued an…more

Anti-Money Laundering, Anti-Terrorism Financing, Bank of Israel, Banking Sector, Cryptocurrency

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Dor Marinovsky

Contracts in Israel: Doing Business in Israel

Law has a major role in Israeli business. Israelis feel their freedom to act is determined by what is allowed under law, and this includes what has been agreed to in a binding agreement. Therefore, legal contracts form the basis…more

Contract Drafting, Contract Formation, Contract Negotiations, Contract Terms, Israel

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Hili Michaeli

What Is the Maximum Exemption from Land Appreciation Tax?

Judge Yardena Seroussi recently handed down a new ruling in a case deliberated by the Real Estate Tax Appeals Committee on the taxation of luxury apartments. The Appeals Committee deliberated the question of the entitlement to…more

Apartments, Beneficiaries, Exemptions, Israel, Property Valuation

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Idan Miller

Increasing the odds of winning in an insolvent Corporation auction

Acquiring an insolvent corporation’s operations during a legal proceeding (rehabilitation, recovery, or debt settlement) presents numerous business opportunities. However, the holding of an insolvency auction, an integral part…more

Acquisitions, Auction, Business Opportunities, Commercial Bankruptcy, Competitive Bidding

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Moshe Minster

Entities with Relatively Small Market Shares May Also Be Deemed Monopolies

Six months after the amendment to the Economic Competition Law took effect, the Competition Authority published its position regarding the circumstances in which even an entity with less than a 50% market share may be deemed a…more

Amended Rules, Anti-Monopoly, Antitrust Violations, Competition Authorities, Criminal Sanctions

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Naama Ben Arosh Moshe

Arbitration Clauses in International Agreements – Do’s and Don’ts

Contractual engagements inevitably beget legal disputes. Even the best agreement is no guarantee the engagement will succeed. Accordingly, one of the most important provisions in any commercial agreement is the provision that…more

Arbitration, Arbitration Agreements, Arbitration Awards, Breach of Contract, Contract Drafting

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Eyal Nachshon

Class Actions on Accessibility of Public Companies' Reports Dismissed

About two years ago, motions to certify class actions were filed against dozens of public companies and reporting corporations in Israel, alleging violations of provisions of the Equal Rights for Persons with Disabilities Law…more

Case Consolidation, Class Action, Corporate Governance, Disability Discrimination, Dismissals

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Ben Norman

Privacy: Transfers of Personal Data Outside of Israel are Only Permitted to Countries Ensuring Adequate Data Protection

The Israeli Privacy Protection Authority (“PPA”) recently published a draft opinion, which is open for public comments, addressing transfers of personal data from Israel to other countries. In this opinion, the PPA seeks to…more

Compliance, Data Privacy, Data Protection Authority, Data Security, International Data Transfers

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Izabel Pashayev

Tel Aviv Stock Exchange Publishes ESG Questionnaire

The Tel Aviv Stock Exchange (TASE) published a questionnaire on corporate social responsibility for listed companies for the first time on April 17, 2023. The TASE published the questionnaire with the goals of expanding listed…more

Corporate Governance, Environmental Social & Governance (ESG), Israel, Publicly-Traded Companies, Tel Aviv Stock Exchange (TASE)

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Harel Perlmutter

Israeli-UAE Tax Treaty – Client Update

On May 31, 2021, Israel and the United Arab Emirates signed a tax treaty. This is the first tax treaty between the states. It is expected to go into effect on January 1, 2022, after passing the necessary ratification processes…more

Capital Gains, Dividends, Interest Rates, Israel, OECD

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Niv Polani

Israeli Supreme Court Asserts Responsibility Is Not Necessarily Accountability

The investigation of the Meron disaster raises an important legal question regarding the connection between responsibility and accountability. The Israeli Supreme Court answered this question recently in a completely different…more

Investors, Israel, Israel Securities Authority (ISA), Liability, Regulatory Authority

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Avinadav Preuss

What Is and Isn’t Permissible When Startup Founders Split

The Tel Aviv District Court (Economic Department) recently ruled that a partner in a startup breached his obligations as an officer in the company, as well as other obligations toward his former partner in that company. The…more

Anti-Competitive, Breach of Duty, Business Disputes, Companies Law, Contract Negotiations

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Elad Reshtick

How to Conduct Board and Committee Meetings

In recent years, we have witnessed a sharp increase in the number of lawsuits filed in Israel against officers and directors of companies and a broadening of the scope of their liability. As a result of their roles, directors…more

Board Meetings, Board of Directors, Books & Records, Companies Law, Corporate Governance

See all updates »

Ori Rodriguez

New Regulations Ahead: Reporting Obligations for Payment Companies and License Holders

The Israel Securities Authority recently published a draft of a new directive for payment companies and holders of basic initiation licenses or approvals regarding reporting to the Authority. According to the Draft, payment…more

Comment Period, Draft Guidance, European Banking Authority (EBA), Financial Conduct Authority (FCA), Israel

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Amos Rosenzweig

Rights of New Immigrants (Olim) and Returning Israeli Residents

One of the ramifications of the Israel-Hamas war is the growing interest of diaspora Jews and expat Israelis in immigrating to Israel. The National Insurance Institute and various government ministries grant a spectrum of rights…more

Bank of Israel, Expatriates, Government Assistance, Health Insurance, Immigrants

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Hagit Ross

Companies without a Control Core – Draft Bills Calls for Changes

The Ministerial Committee for Legislation has recently re-approved the draft amendment to the Israeli Companies Law. The aim of this amendment is to improve the corporate governance rules applicable to companies with no…more

Audit Committee, Board of Directors, Controlling Stockholders, Corporations Code, Diversity

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Gal Rozent

Israeli Monopolists Barred from Granting Discriminatory Rebates

A few days ago, the Central District Court handed down its ruling in the lawsuit filed by Aviad Concrete and Clay Industries against Nesher Israel Cement Enterprises. The suit concerned Nesher’s rebate policy to its customers,…more

Adverse Impact, Breach of Competition Law, Case Consolidation, Class Action, Competition

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Shir Rozenzweig

Anti-Money Laundering Obligations in Israel

The Israel Securities Authority’s Financial Sanctions Committee recently issued two different decisions to impose financial sanctions on companies. These sanctions were for financial activities violating provisions of the…more

AML/CFT, Anti-Money Laundering, Enforcement Priorities, Israel, Israel Securities Authority (ISA)

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Samuel Henri Samuel

Doing Business in Israel: Effects of War in Israel on International Companies

Operation Swords of Iron constitutes a state of emergency in Israel unlike any other in past decades, with at least 1,400 citizens killed and some 300,000 reservists called up for duty. This state of emergency is being felt…more

Breach of Contract, Commercial Contracts, Contract Terms, Force Majeure Clause, Frustration of a Common Purpose

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Galia Shahar

Policy Update: Employing Ukrainian Refugees in Israel

The Interior Ministry has once again extended its policy of not taking enforcement measures against the employment of Ukrainian citizens who are in Israel because of the war in Ukraine. According to this policy, enforcement…more

Israel, Military Conflict, Ministry of Interior, Passports, Refugees

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Ken Shaked

Israel Innovation Authority: New Startup Fund “Boost for High-Tech”

The Israel Innovation Authority (IIA) is launching new startup funds as part of a stimulus package for the Israeli high-tech industry. Alongside investors from the private market, the IIA’s “Boost for High-Tech” funds will…more

Corporate Financing, Early Stage Companies, Economic Development, Federal Grants, Innovation

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Daniel Shlomovitz

Israel: Everything to Know about the Purchase Tax Hike on Real Estate Investors

Last week, the Israeli Ministry of Finance approved the outline for a hike to the purchase tax imposed on real estate investors, once again, to tax brackets of 8% and 10%. The ministry’s goal is to “dissuade” investors from…more

Apartments, Israel, Ministry of Finance, Property Tax, Real Estate Investments

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Itiel Shloush

Tax: Classification of Inter company Transactions

A precise definition of business services was recently at the core of a dispute between the Israel Tax Authority and eBay Marketplace Israel Ltd., a subsidiary of the multinational eBay Group. The district court litigated this…more

Corporate Taxes, eBay, Fair Market Value, Israel, Multinationals

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Anat Shubat

Anti-Money Laundering Obligations in Israel

The Israel Securities Authority’s Financial Sanctions Committee recently issued two different decisions to impose financial sanctions on companies. These sanctions were for financial activities violating provisions of the…more

AML/CFT, Anti-Money Laundering, Enforcement Priorities, Israel, Israel Securities Authority (ISA)

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Ron Shuhatovich

Foreign Funds from Additional Stock Exchanges May Dual List on the TASE

On February 22, the Israeli Ministry of Finance published a draft bill for public comments to amend the Joint Investment Trust Regulations (Foreign Fund Unit Offerings). These regulations regulate the listing of foreign funds…more

Comment Period, Foreign Exchanges, Investment Funds, Israel, Listing Rules

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Jacki Silbermann

Israel Freezes Convalescence Pay Rate

In March 2024, the Knesset legislated the Freezing and Reducing Convalescence Pay in 2024 for Budgeting Benefits for Reservists Law. This law applies to the private sector, following an earlier collective bargaining agreement…more

Israel, Paid Sick Leave, Private Sector, Public Sector, Tax Authority

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Avihai Tal

Proprietary Trading and Global Regulation

In recent years, a new field called “prop trading” has emerged. It enables traders to trade financial products such as stocks, commodity bonds, cryptocurrencies, CFDs, and forex products without using their own money, but rather…more

Capital Markets, CFTC, European Securities and Markets Authority (ESMA), Forex, Investment Management

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Yakov Vilenski

Israeli Institutional Investors and Transfer Rights

When an institutional investor in Israel invests in an investment fund, it must comply with regulations set in the Supervision of Financial Services Regulations. In particular instances, the manner funds manage their affairs…more

Financial Regulatory Agencies, Institutional Investors, Investment Funds, Israel, Regulatory Standards

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Dean Weinberg

Intricacies of SAFEs (Simple Agreement for Future Equity)

A SAFE is designed to be short and straightforward. In essence, the investor provides cash now against a promise to receive shares in the future. The challenges of negotiating full transaction documents, including agreement on…more

Business Valuations, Contract Terms, Conversion, Corporate Financing, Dilution

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Alon Wolner

NPOs Receive Exemptions from Real Estate Betterment Levies

The Israeli Supreme Court handed down a precedent-setting ruling recently in the Evangelical Episcopal Church case. According to the ruling, Israeli NPOs may receive an exemption from paying real estate betterment levies to the…more

Betterment, Capital Gains, Exempt Organizations, Exemptions, Israel

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Andrey Yanai

Important updates on the Israeli money market reform

The Israel Securities Authority has published several additional revisions to the Israeli money market reform since the Knesset approved legislative amendments designed to promote competition in the money market, and since the…more

Fund Managers, Government Bonds, Investment Adviser, Israel, Israel Securities Authority (ISA)

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Masha Yudashkin

Board of Director’s responsibility for data security in a company

The Israeli Privacy Protection Authority recently published a binding directive addressing the board of director’s responsibilities for the fulfillment of a company’s obligations prescribed in the Privacy Protection Regulations…more

Board of Directors, Data Privacy, Data Protection, Data Protection Authority, Data Security

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Maya Zisser

Year in Review – Trends in Real Estate Law in Israel

At the beginning of 2022, everyone had great expectations about the Israeli real estate market. Would the record-breaking price increases in 2021 persist, or would the real estate market cool down a bit?…more

Interest Rates, Israel, Property Tax, Real Estate Development, Real Estate Investments

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