Israelis and US residents will be able to receive a work permit on an investment basis

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by Ifi Reporter Category:Government Jun 19, 2018

The Knesset's Interior Committee approved the regulations for a work permit for Israeli investors in the US According to the agreement, Israelis and US residents will be able to invest in each other's country and receive a work permit on an investment basis only.
Until now, Israelis who wanted to obtain a work permit in the US, even for the purpose of starting a business, were forced to meet strict threshold conditions such as proof of unique knowledge, exceptional achievements, seniority or demand from the applicant to prove that in the past he had already made real trade. The new condition is mainly contingent upon an application proving that it provides the business with a sufficient amount of capital to secure the financing of its employment during the construction period, and that the business will create jobs for American citizens.
In fact, as early as January 2017, the government approved the reciprocal regulations with the US that allow the granting of an E-2 visa to Israelis interested in working in the US and type B5 to Americans who wish to work in Israel (a work permit based on investment in Israel) Working for a foreign citizen on the basis of investment had to amend a series of regulations and the Interior Committee of the Knesset was required to approve them.
The approval of the visa outline opens the door for private investors and companies that will invest in the US in every business sector, in a volume that will create jobs for American workers, including Israeli start-ups, businessmen, diamond dealers, marketing companies and real estate.
Adv. Zvi Ken Tor, a partner in the law firm of Ken Tor & Acco, who heads the visa committee at the Israel-America Chamber of Commerce, initiated and promoted the process of promoting mutual work visas. According to him, the term commercial investments can also include food businesses of any kind, hairdressers, garages, personal services and any retail business has a unique.
The expectation is that Israelis will be able to begin applying for a visa within a few months, after the US authorities give final approval that the wording of the Israeli regulations meets the requirement of reciprocity.
The regulations also create a situation in which, for the first time in Israel's history, only US citizens can obtain work visas in Israel on the basis of investment, they can stay in Israel for over 63 months, and the spouse can obtain a general work permit.
Advocate Zvi Ken-Tor explained that the promotion of the covenant was coordinated with the Population Authority, which supported and assisted all along the way.In order to promote the process, AIPAC was also mobilized to submit a short and specific law authorizing the granting of a visa to Israeli citizens. Adv. Zvi Ken Tor Israel will become the 40th country with which the US has an E2 agreement.

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