vLex Israel

  • Service Users Must Now Hold Hearing Procedures for Service Providers’ Employees

    The National Labor Court recently handed down an important ruling that concerns many employers in the market engaged with service provider companies.   The National Labor Court ruled that although there were no employee-employer relations between the employee and its employer in this matter, the service user still had to take part in the employee’s… (See Article)

    Aug 5, 2020 6:32 AM

  • It Is Time to Come Back Home: Investors Can Now Enjoy a Reduced Purchase Tax

    Israeli Minister of Finance Israel Katz’s plan to reduce purchase tax for investors has gone into effect.   Until now, under plans advanced by the previous Minister of Finance, Moshe Kahlon, for lowering housing prices and pushing investors out of the real estate market, the purchase tax for investors went up from 5% to 8%… (See Article)

    Aug 4, 2020 6:32 AM

  • Labor Law- An Important Update for Employers

    There have been a few recent updates to statutory provisions and administrative procedures regarding employees and employers during the COVID-19 outbreak. Here are the main points:   In a decision handed down on 27.7.2020, the Supreme Court, sitting as the High Court of Justice, repealed an order given on 4.2.2020 by Prof. Sigal Sadetzki, former… (See Article)

    Jul 30, 2020 6:32 AM

  • Apartment Sale Delayed because of COVID-19? Home Upgraders Eligible for an Extension

    Apartment owners experiencing difficulty selling their old apartments are entitled to a seven-month extension in which to sell, and the Israel Tax Authority will not count this period for tax purposes. (See Article)

    Jul 24, 2020 6:33 AM

  • Are Publicity Brochures for Apartment Developers Considered an Agreement?

    Developers and entrepreneurs often market apartments for sale using glossy prospectuses and state-of-the-art simulations that purport to represent to the buyer the apartment they are about to purchase. Sometimes, though, there is no connection between the information in the brochures and the apartment one purchased. The question arises of whether such publicity materials constitute a… (See Article)

    Jul 22, 2020 6:32 AM

  • Dividend Distribution in Times of Covid-19 - Barnea

    The recent distribution of dividends by the TASE traded Fox-Wizel Ltd., while in receipt of emergency funding from the Israeli government, did not only raise a moral question, but also directed the spotlight on the complexity facing many companies during these times. A key question facing companies is how to balance between dealing with the… (See Article)

    Jul 14, 2020 6:33 AM

  • Fintech Companies: New Program to Facilitate Regulatory Reliefs

    Although Israel is a world leader in the fintech field, companies operating in this area face many regulatory challenges.   A newly published legal memorandum aims to enable the creation of a “sandbox”, with inspiration from various programs already implemented in Japan, Australia, and Singapore. The goal is to establish a unique experimental environment, a… (See Article)

    Jul 13, 2020 6:33 AM

  • Remuneration Policy: New Reliefs for Officers' Insurance

    The Israel Securities Authority announced a new relief for public companies regarding directors’ and officers’ liability insurance. This relief will enable companies to include in remuneration policies only the scope of the insurance coverage, without the other parameters required to date. (See Article)

    Jul 10, 2020 6:33 AM

  • Banks Required to Share Information about Clients with Other Financial Bodies

    As part of a broad change led by the Ministry of Finance to increase competition in the banking and financial services market, a memorandum for the Provision of Financial Information Services was recently published for public comments. (See Article)

    Jul 8, 2020 6:32 AM

  • Israel: How to Identify Suspicious Use of Virtual Currencies

    Prompted by the use of digital currencies to fund terror and other illegal activity, the Israel Money Laundering and Terror Financing Prohibition Authority has published a document aimed at assisting financial bodies and law enforcement agencies to identify improper activity in this field. (See Article)

    Jul 7, 2020 6:32 AM

  • Taxation of Hedge Funds in Israel – A Short Guide to the Perplexed

    Hedge funds are generally entities that are managed by investment managers, in accordance with certain investment strategies, in order to invest in financial assets and generate returns for the hedge funds’ investors. (See Article)

    Jul 3, 2020 8:32 AM

  • Bankruptcy, Insolvency & Rehabilitation Proceedings in Israel

    KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER ISRAELI LAW - The Israeli Parliament (Knesset) passed a new statute regarding insolvency law, which is named the Insolvency and Rehabilitation Law-2018 (the "Law"). The Law was enacted on March 5, 2018 and came into force on September 15, 2019. The Law offers a comprehensive reform and provides Israel with modern insolvency legislation dealing with both corporate and individual insolvency. The Law has three primary objectives: 1. to promote the debtor’s economic rehabilitation; 2. to maximize the debt repayment to creditors and to divide the debtor’s pool of assets in a more equitable manner between the secured and unsecured creditors; 3. to increase the certainty and stability by streamlining processes and reducing the bureaucratic burden. Please see full Chapter below for more information. (See Article)

    Jun 29, 2020 6:33 AM

  • Crowdfunding Regulation in Israel

    Crowdfunding began as a fundraising model used by entrepreneurs or artists to fund projects. Investors gave money as a donation or with the expectation of receiving the final product. Now, many companies are using crowdfunding simply as a means to raise money. (See Article)

    Jun 24, 2020 6:33 AM

  • Decision Implementing Trademark License Requirements in Israel and a Comparison to the US and Mexico

    In some jurisdictions, the local trademark offices will require an owner to record trademark licenses used by entities other than the registered owner. (See Article)

    Jun 22, 2020 6:33 AM

  • How to Arrange the Inheritances of Agricultural Farms

    Many landowners in agricultural communities (moshavim) find themselves wondering about the future of the family farm once they have passed. Questions such as how can the estate be bequeathed, to whom, and what the parties who are not gifted the farm might receive arise frequently in such cases. Because the agricultural farm is the primary… (See Article)

    May 29, 2020 6:33 AM

  • Israeli Registrar of Amutot Eases Reporting Obligations for Amutot and Public Benefit Companies (PBCs)

    Following the guidelines that the Israeli Corporations Authority (ICA) has issued on March 2020, inter alia, regarding easements in the annual reporting dates applying on Amutot and PBCs, in light of the coronavirus outbreak in Israel, the ICA has now issued further updated guidelines regarding the annual reporting dates. (See Article)

    May 15, 2020 6:32 AM

  • Assessing Risk and Implementing Workplace Protections

    It is obvious that people are experiencing a lot of anxiety right now. People are anxious to get back to some form of normalcy – whether that means getting back to work, to school, and/or to their social lives – but people also are anxious about how to do these things safely, protecting their health… (See Article)

    May 14, 2020 6:33 AM

  • Israel: Aid Measures for Third-Sector Organizations and Civil Society

    As part of its effort to deal with the coronavirus crisis, the Social Services Division of the Accountant General’s Department at the Israeli Ministry of Finance recently released an aid package for the benefit of third-sector organizations (Amutot and public benefit companies) and civil society. The following are the highlights of the published steps... (See Article)

    May 13, 2020 6:32 AM

  • Israel: Fast-Tracked Grant Channel for Companies in Crisis

    Following a previous Israel Innovation Authority call for bids for companies developing technologies to help deal with the coronavirus crisis, the IIA has opened a channel to support companies facing financial hardships due to the virus. (See Article)

    May 8, 2020 6:32 AM

  • Managing Labor Relations in Accordance with the New Israeli Guidelines

    On April 19 new guidelines were introduced allowing a gradual return to the workplace. Here are the key guidelines. How many employees are allowed to physically come to the workplace? According to the guidelines, it is permitted to employ in a workplace whose opening has not been banned 10 employees or up to 30%… (See Article)

    May 5, 2020 6:31 PM

  • Startup Funding in the Coronavirus Era

    Get up in the morning, go to work, sit in meetings, pick up the kids from school, go to the grocery store, work out at the gym, or just meet up with friends and family. It’s hard to believe that until a few weeks ago this described a normal day for most people. It’s clear… (See Article)

    May 5, 2020 6:32 AM

  • Israel: Extending Validity of Regulatory Approvals in Light of the Coronavirus Crisis

    On March 25, 2020, emergency regulations were adopted in Israel that include, among other things, an extension of the validity of regulatory approvals that expire in the near future.   The purpose of the extension is to ensure the continued functioning of business entities, which without the extension, would have remained without a valid license,… (See Article)

    Apr 10, 2020 6:32 AM

  • Pregnant Women May Now Be Put on Unpaid Leave without Labor Ministry Approval

    In light of the COVID-19 crisis, many employers, including many of our clients, have been forced to send their employees to unpaid leave. However, in the case of pregnant women, women and men undergoing infertility treatment, and women returning to work after maternity leave, employers are required to apply to the Supervisor under the Women… (See Article)

    Apr 9, 2020 8:32 AM

  • ISA and TASE Publish Reliefs for Public Companies and Reporting Corporations

    In light of the global coronavirus crisis, the Israel Securities Authority (ISA) has published several steps toward easing the burden on public companies and reporting corporations whose securities are traded on the Tel Aviv Stock Exchange. (See Article)

    Apr 9, 2020 6:32 AM

  • Israel Innovation Authority Updates for Companies and New Benefit Tracks

    Due to the coronavirus pandemic, the Israel Innovation Authority, has issued a major easement for the companies it supports, in the manner in which payroll expenses for companies in the midst of carrying out approved plans will be recognized. (See Article)

    Apr 8, 2020 6:33 AM

  • ISA Publishes Temporary Order on Clarification of Clients’ Needs

    In response to the Corona pandemic, the ISA published on March 30, 2020, a temporary order for license holders in connection with the clarification of clients’ needs. The temporary order is valid until June 30, 2020. (See Article)

    Apr 7, 2020 8:32 AM

  • Contractual Obligations during the Coronavirus Outbreak

    The coronavirus outbreak has stricken us all by its brutal implications on our daily lives. Alongside the invasion of personal space, the virus’ effects have not spared the business arena, and the ability of both businesses and individuals to meet their contractual obligations is also in question. (See Article)

    Apr 7, 2020 6:32 AM

  • Protecting Privacy despite the Coronavirus

    The global effort to fight the spread of coronavirus has prompted new privacy related questions around the world. Much has been written for and against the use of privacy-compromising measures to protect public health. Therefore, we have chosen to concentrate on the practical implications of privacy principles on companies and businesses. (See Article)

    Mar 31, 2020 6:33 AM

  • Israel: Engaging Employees on Overtime at an Unusual Scope

    The Ministry of Health’s recent guidelines have created, inter alia, uncertainty and instability in the labor market. Organizations are dealing with a shortage of manpower, either because of the quarantine obligation or in light of new guidelines limiting the number of employees in workplaces. (See Article)

    Mar 24, 2020 1:33 PM

  • Taking Testimony in Israel for Criminal Trials in the United States

    Recently, United States federal courts have been more frequently approving the extra-territorial collection of testimony for use in criminal trials to be held in the United States. While the collection of such testimony for civil proceedings held in US courts is already commonplace, until now it has been a very rare occurrence in criminal proceedings. (See Article)

    Mar 24, 2020 7:32 AM