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FISCHER (FBC & Co.) | July 2017

New Ruling – calculation of an hourly employee’s last wage for the purpose of calculating the severance pay to which he is entitled will be made according to the partiality of his position throughout the term of his employment On June 4, 2017, the National Labor Court rendered a judgment in Labor Appeal 44824-03-16 Y.B. See Resources Ltd. vs Adhenom Berh Teami (the “See Resources Case“) ...

FISCHER (FBC & Co.) | July 2017

We write to inform you about a precedent-setting ruling by a District Court in Israel in a case between Gteko, a subsidiary of Microsoft Corporation, and the Israel Tax Authority ("ITA") regarding a transaction for the sale and purchase of intellectual property assets and its valuation.In 2006, Microsoft acquired the entire share capital of Gteko for $90 million (pursuant to a "Share Agreement") ...

FISCHER (FBC & Co.) | June 2017

FBC & Co examine the business and legal aspects of investing in one of the world’s most technologically advanced economies. Established in 1948, Israel is the world’s only Jewish state, and the sole democracy in its vicinity. Israel has a diverse open market economy. Being a relatively young state, Israel is recognized as a developed market by many major indices. Israel has been a member of the high-income sector of the OECD since 2010 ...

FISCHER (FBC & Co.) | April 2021

Further to the decline of the Covid-19 spread in Israel after the successful vaccination rollout, Israel has announced changes in foreign entry policy into the country, which will allow, among others, the regular entry of foreign experts and businessmen. These reliefs come after several months in which the state borders were almost completely closed to foreigners ...

FISCHER (FBC & Co.) | June 2016

There is a growing trend of initial public offerings of debt in Israel by U.S. (and Canadian) real estate companies with income-producing real estate and the listing of the bonds for trading on the Tel Aviv Stock Exchange. During 2014 and 2015, approximately 15 such real estate companies completed public debt offerings in Israel, the large majority of which were initial public offerings, raising approximately NIS 8 billion in total (equivalent to approximately US$2 billion) during such period ...

FISCHER (FBC & Co.) | September 2017

The Israeli Tax Authority ("ITA"), published a list of instances whereby transfer of funds, through banking corporations, to foreign residents will be exempt from tax withholding ...

FISCHER (FBC & Co.) | February 2018

SECTION 1: Market Overview 1.1 Please provide an overview of the project finance market in your jurisdiction. Project financing is a well-established finance scheme in Israel, widely implemented in the last 15-20 years. It is used for debt financing in a variety of sectors, particularly where public private partnership (PPP) projects are involved ...

FISCHER (FBC & Co.) | August 2017

The Israeli Supreme Court Ruling earlier this year, which establishes that, for the purpose of service out of the jurisdiction based on Regulation 500(7) of the Israeli Civil Procedure Regulations, 5744-1984 (“Civil Procedure Regulations“) – it is not sufficient to indicate damage which allegedly occurred within Israel, but rather an act or omission in Israel must be shown ...

FISCHER (FBC & Co.) | June 2016

In February 2016, a general collective agreement was signed between the Histadrut (the largest labor union in Israel) and the Presidium of Israeli Business Organizations (the umbrella organization of employers in Israel).The collective agreement will come into effect on July 1, 2016 and its provisions are expected to be applied by extension order to all employees in Israel ...

FISCHER (FBC & Co.) | August 2018

The Israeli legal system is mainly based on common law, but incorporates some aspects of civil law. Israeli business entities include cojmpanies, partnerships, co-operatives and non-profit organisations. Individuals can conduct business without establishing any legal entity ...

FISCHER (FBC & Co.) | August 2018

The Israeli Securities Law was amended (Amendment No. 63) with a goal of turning the Tel-Aviv Stock Exchange (TASE) into a more competitive, efficient and profitable stock exchange, by outlining an ownership structure change of the TASE. The ownership structure change allows private investors, in addition to institutional investors, to acquire means of control over the TASE ...

FISCHER (FBC & Co.) | December 2017

The Basic Laws of Israel that comprise the county’s constitution specifically grant Israel’s citizens the right to privacy as a basic human right. This practice note provides an overview of the regulation of data protection and privacy in Israel, presented in a question and answer format. Legislative Framework • Question 1: Summarize the legislative framework for the protection of personally identifiable information (PII) ...

FISCHER (FBC & Co.) | July 2020

Due to the COVID-19 outbreak, as of March 2020, Israel prohibited foreign nationals from any country from entering its borders, including citizens who held any kind of visa. Only foreign residents who could prove that their 'life centre' was in Israel could enter the country. In June 2020 the Population and Immigration Authority published a list of exceptional cases in which it will allow foreigners into the country ...

FISCHER (FBC & Co.) | November 2020

In response to the COVID-19 pandemic, in March 2020 Israel imposed significant restrictions on foreign nationals' entry into Israel. As a general rule, the entry of foreigners into Israel is prohibited, except for a limited list of exceptional cases (for further details please see "COVID-19: exceptional cases in which Population and Immigration Authority will allow foreigners to enter Israel") ...

FISCHER (FBC & Co.) | January 2021

In light of the spread of the global Covid-19 pandemic and the discovery of a new mutation of the virus, the Israeli government has decided that as of December 23, 2020, the entry of foreigners into Israel will be banned. Further to this decision, the Population and Immigration Authority published guidelines regarding exceptional cases in which foreigners will be allowed to enter the country despite the ban ...

FISCHER (FBC & Co.) | April 2020

Among its other consequences, the ongoing global outbreak of Novel Coronavirus 2019 (COVID-19) has resulted in an economic crisis. In this legal update we present insolvency law issues which may arise during the crisis and we also propose practical solutions for dealing with challenges that companies may face. 1 ...

FISCHER (FBC & Co.) | November 2017

An Important Israeli Court Decision for Dual-Listed Companies: The Liability for Breaches of Reporting Obligations by Dual-Listed Companies Is Governed by the Securities Laws of the Foreign Trading Jurisdiction.   In 2017 the Tel Aviv District Court (Economic Division, Judge Kabub) issued a decision in Cohen v. Tower Semiconductor Ltd. et al., C.A ...

FISCHER (FBC & Co.) | February 2016

Dear Clients and Colleagues, We write to inform you about amendments tothe "Angels Law" that were recently enacted with the aim ofencouraging private investment in new start-ups in the seed stage (the "Amendment").The "Angels Law" refers to theprovisions of section 20 of the 2011-2012 Economic Policy Law, which was passedas a temporary order and was in force during 2011-2015 (the "Law") ...

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