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Israel Company formation and Registration

Registering a Corporation in Israel
There is no restriction placed on an overseas resident who wants to set up a corporation in Israel. No minimum capital has to be proven for an overseas resident to obtain approval to set up a corporation or to open a bank account in Israel. Setting up a corporation in Israel through a lawyer takes 2 - 3 days and includes the following stages:

1. Preparing the Memorandum and Articles of Association.

2. Registration with the Companies Registrar

3. Adopting a resolution on the Directors of the Company/Authorized Signatories.

4. Opening a bank account for the corporation

5. Opening a file with the VAT Authorities

6. Printing tax invoices/receipts

7. Opening 2 files with the Income Tax
a. A Corporation file.
b. An Employers File (for the corporation employees)

Stages 1 - 3 are carried out by an attorney.
Stages 4 - 7 are carried out by a CPA.

The total average/initial cost of the lawyers and accountants fees and the fees to the Companies Registrar amount to US$ 1,000 - 1,200.

Bookkeeping Fees
The monthly payment to a CPA for bookkeeping is influenced directly by the extent of the work and quantity of documents. Nevertheless, the average monthly fee for small corporations is $300 - $600 a month, for medium corporations: $1,000 - $3,000 a month and for preparing an annual balance sheet, $1,300 - $3,000.

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