Israel’s Ministry of Economics announced a new visa category known as the Entrepreneur High-Tech visa which will allow for certain foreign workers that arrive in Israel to work at one of twelve preapproved technology companies that qualify under the program. Presently, the minimum salary for entrepreneur visas is at least double the average salary in Israel and it must also be sponsored by companies. Unlike the current entrepreneur visa, this new visa program will benefit eligible foreign entrepreneurs since there will not be a minimum salary and it will likely not require company sponsorship.

Fifty Entrepreneur High-Tech visas will be available to foreign workers. The visa will have a validity period of up to two years and those starting a company will have the possibility for renewal.

A committee comprised of officials from the Ministry of Economics and the Ministry of Interior will issue related guidelines within the next few months. Local companies interested in preapproval for the program will have the opportunity for proposals before the Head Scientist of the Israeli Government.

Please note that this is general information only and not intended as advice on a specific matter. Please feel free to contact Fakhoury Global Immigration directly with questions exclusive to your situation. This news alert may have been prepared using information from Peregrine Immigration Management, which is licensed to Fakhoury Global Immigration.