The Ministry of Interior will soon launch an online application in 2018 for foreign nationals to obtain work permits in the High-Tech sector. High-Tech Companies that are approved with the Innovation Authority would be able to obtain the work permits with a quicker processing time than those in the standard route.
Life partners of the foreign nationals that obtain work permits in the high tech sector would also be eligible to work in Israel. In an effort to help the High-Tech industry, the Ministry of Interior will permit 500 foreign students to work for up to one year without meeting the requirements of the prevailing wage.
Beginning January 1, 2018, the minimum salary increased to 5,300 NIS from 5,000 NIS, which applies to foreign nationals working under a SEA/STEP visa. The salary of foreign employees working under a 1 year B-1 work visa must be double the average salary. The average salary will be updated during January 2018.
Also effective January 2018, the minimum mandatory payments for pensions will increase to 6% for employee payments, and 6.5% for employer payments.
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.