Israel Innovation Visa

Israel

Entrepreneur , Consultant , Investor , Innovator , Selfemployed
All Business Sectors
Free

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.

Israel Innovation Visa

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.

Country

For who?

Entrepreneurs , Consultants , Investors

Time Granted Details

Two years

Requirements

* Standard application for the issue of a temporary residence permit of the Republic of Lithuania
* A valid travel document (passport)
* A document granting the right to be in the Republic of Lithuania during the submission of the application to the Migration Department
* One photo corresponding to the person s age
* Documents, confirming that the company has been implementing the activity :
– business plan;
– documents related to the location of the company s office (e.g. premise rental agreement);
– no more than 10 contracts, confirming the company s economic activity
– any permissions necessary for the implementation of the company s activity, if any
– documents to prove the company s economic operations and events (e.g. the company s bank statement, invoices, cash receipt and expense orders)
– registers of the company s economic operations and events
* Employment agreements to confirm that the company has at least 5 employees that are citizens of the Republic of Lithuania, other European Union member states or the European Free Trade Association, or foreigners, permanently residing in the Republic of Lithuania, working in full-time positions
* A document to confirm that the foreigner has enough funds and (or) receives enough regular income, that is enough to subsist in the Republic of Lithuania
(a bank statement on the assets owned or an employment contract)
* A bank statement on the assets owned or an employment contract
* A letter from (a) competent institution(s) of the foreign state(s), where the foreigner has lived before coming to the Republic of Lithuania or has been living for the last 2 years (except for cases, when the residence in a foreign state was shorter than 6 months in a period of 12 months) to confirm that the said foreigner has no criminal record in the said foreign state(s)
* List of the foreign states that the foreigner has visited and (or) lived in in the last 10 years before coming to the Republic of Lithuania
* Health insurance, which covers any emergency medical aid costs and expenses that may occur due to the foreigner s return to the foreign state due to health issues
* Documents of the company s incorporation or articles of incorporation
* Documents to prove that the foreigner is the director of the company or a shareholder of the joint stock company or closed joint stock company, who holds the company s shares with the nominal value of at least 1/3 of the company s authorised capital
* Documents to prove that the value of the company s equity capital constitutes at least 28 thousand Euros (e.g. the company s interim financial statement (balance or statement of changes in equity)), at least 14 thousand Euros of which consists of funds or other assets, invested by the foreigner to the firm or company

Minimum fund

$0

Fund Source

This information is not available

Visa application fees

Normal application : 71 EUR
Urgent application : 142 EUR

Duration

This information is not available

Documents required

This information is not available

Procedures

·         Foreign entrepreneur shall apply to the landing pad with the project he is willing to develop.

·         The landing pad shall approve/reject the project for development - provide Appendix 4 'Statement of the Landing Pad Regarding the      Acceptance of a Foreign Technology Entrepreneur.

·         In the event that the landing pad approves the project, the entrepreneur shall apply, with the landing pad approval attached, for the grant of an Innovation Visa - provide Appendix 5 'Application for recommendation to issue an innovation visa for a foreign technology entrepreneur'.

·         A professional evaluator shall examine the project.

·         The project will be brought up for discussion at the Israel Innovation Authority Committee, which will reach a decision on whether to approve the project and recommend the grant of an Innovation Visa to PIBA.

·         The entrepreneur will receive a reply from the Committee - provide Appendix 6 'The Committee's Recommendation to PIBA to Issue an Innovation Visa'.

·         In the event that the Committee approves the project, the entrepreneur will continue the application procedure as per procedure 5.3.0029 of PIBA - Residency Permit for foreign innovation entrepreneurs.

How to apply?

This information is not available