Israel, a parliamentary republic, is located on the eastern shore of the Mediterranean Sea. It is bordered by Lebanon and Syria to the north, Jordan to the east, and Egypt to the southwest. The capital of Israel is Jerusalem, and its currency is the Shekel (ILS). Currently, there are two official languages in Israel: Hebrew and Arabic. Israel has a technologically advanced free market economy. Cut diamonds, high-technology equipment, and pharmaceuticals are among its leading exports. Its major imports include crude oil, grains, raw materials, and military equipment. Israel usually posts sizable trade deficits, which are offset by tourism and other service exports, as well as significant foreign investment inflows. Recent natural gas discoveries off the coast of Israel have been a positive development for Israel, which otherwise has limited natural resources. Israel also has intensively developed its agricultural and industrial sectors over the past 20 years. Cut diamonds, high-technology equipment, and agricultural products (fruits and vegetables) are the leading exports. The Bank of Israel expects gross domestic product (GDP) growth in the Israeli economy to increase by 3.4% in 2018 and by 3.5% in 2019.
Entrepreneurs from abroad willing to establish a technologically innovative project in Israel are invited to submit an application for the grant of an Innovation Visa. An innovation Visa shall enable the entrepreneur to develop a technologically i...
Entrepreneurs from abroad willing to establish a technologically innovative project in Israel are invited to submit an application for the grant of an Innovation Visa. An innovation Visa shall enable the entrepreneur to develop a technologically innovative project in Israel, for a period of up to 24 months, with the purpose of establishing an Israeli company. During the development of the technological concept, the entrepreneur will be able to receive support from the Innovation Authority's Tnufa Incentive Program. Entrepreneurs who are holding an Innovation Visa may also be granted an Expert Visa by the time the project is already developed and mature enough to receive support through one of the incentive programs of the Innovation Authority. In order to be granted an Expert Visa, the foreign entrepreneur must establish a company and apply for one of the incentive programs at the Innovation Authority.See more details