Israel client case studies in 2024

A US staff placement company establishes a company in Israel

Background

  • In May 2020, an American staff placement company with presence in several countries including Canada and UK, engaged Healy Consultants Group to register a company in both, Australia and New Zealand; Refer to this link to see a summary of these engagements;
  • Later the same year, the same company engaged us to register their company in Israel;

Engagement planning

  • During a fruitful call, Healy Consultants Group and our Client discussed the simplest corporate structure, licensing requirements and other country specific requirements;
  • Thereafter Healy Consultants Group prepared and emailed our Client an engagement advancement proposal including a formal invoice, our e-engagement letter, the due diligence checklist;
  • Because we already had substantial due diligence on this client, we were able to commence the company incorporation process as soon as our Client settled our complete invoice. Thereafter, Healy Consultants Group prepared i) a detailed engagement project plan mapping out by step plan to engagement completion and ii) a quality business plan;

Company registration

  • Within 1 week Healy Consultants Group prepared the Israel incorporation forms in Hebrew together with a simple English translation of the same, for our Client’s review, notarization and legalization in the Israeli embassy in the USA;
  • Immediately upon receiving the originals, Healy Consultants Group submitted a complete incorporation package to the Israeli Government;
  • Within 3 weeks, the Israeli company was registered as a legal entity in the country. From this date out Client could sign contracts but had to wait until tax registration completion before they could issue invoices to local customers or hire employees;

Tax registration

  • Following company registration, Healy Consultants Group assisted our Client to find the optimum legal tax representative by preparing a comparison table within 2 weeks. To prepare this table Healy Consultants Group i) interviewed and shortlisted several Israeli Firms and ii) introduced our Client’s business and iii) negotiated annual fees and refundable deposits amounts and iv) agreed on terms and conditions on behalf of our Clients;
  • Once our Client reviewed and chose their preferred legal representative, we submitted a complete tax registration application with the Ministry of Finance;
  • Within 3 weeks the tax numbers were successfully issued by the authorities. Our Client immediately started business operations in this country. Healy Consultants Group emailed our Client a draft tax invoice, for their convenience;

Corporate bank account

  • Once the company was registered, we proceeded to open a multi-currency corporate bank account for our Client. To achieve this, Healy Consultants Group submitted the business plan containing the expected fund inflows and outflows for the first 3 years to several Israeli banks;
  • Unfortunately several banks rejected our preliminary application because our Client i) didn’t have identified Israeli customers/suppliers yet and ii) none of the directors nor shareholders was resident in Israel and iii) due to the COVID-19 pandemic, our US Client was unable to travel to Israel for a 1 hour interview;
  • Eventually, one bank verbally agreed to open a multi-currency corporate bank account for our Client, without the need for them to travel. However a local co-bank signatory had to be appointed. Our Client accepted this as a temporary solution until he could travel;
  • Following submission of a formal corporate bank account opening application to the bank, the bank issued corporate bank account numbers within 4 weeks;

Engagement completion

  • Healy Consultants Group’s Accounting Department got in touch with our Client to inform them how to manage their business’ accounting and tax going forward;
  • Healy Consultants Group also ensured our Client had a complete set of electronic company documents from both their entities and requested our Client to complete our Client feedback survey and review us online;

Contact us

For additional information on our company incorporation services in Israel, please contact our in-house country expert, Mr. Seth Ochieng, directly:
Director of Client Engagements - Seth
  • Mr. Seth Ochieng
  • Senior Manager, Client Relations
  • Get in touch
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