The Knesset plenum on Monday evening approved a bill amending the Israeli Economic Recovery Law so that taxes would not be levied on foreign investors who are US citizens, on their spouses or on specialists working for the investor, or in Israeli companies where the investment was made.
The law was passed with 58 in favor, 6 abstained and none opposed.
The legislation also changes the definition of “foreign worker” so that it does not include foreign investors, their spouses and specialists who work on their behalf, who have received visas under the Citizenship and Entry into Israel Law.
The accompanying notes to the bill state that “in accordance with the government’s decision regarding an arrangement for the issuing of temporary residence permits for investors who are citizens of the United States and their essential expert employees, as well as for members of their family, it has been determined that in order for the arrangement regarding the issuing of E-2 visas to Israeli citizens in the United States to go into effect, a similar arrangement must be applied in Israel regarding citizens of the United States.”