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22 OVERVIEW OF ISRAEL’S HIGH-TECH INDUSTRY However, given the ambiguity prevailing in the European and American markets on which Israel relies, it is too early to predict whether the trend will continue in 2011. 3.2. THE HI-TECH WORLD IN 2010 In 2010, approximately 391 Israeli hi-tech companies raised $1.26 billion from local and foreign venture investors. This figure is 13% higher than the $1.12 billion raised in 2009, but 39% below the $2.08 billion raised in 2008. Capital Raised by Israeli High-Tech companies ($M), 2001-2010 0 0 Hi-tech exports totaled $20.2 billion in 2010 – approximately 49.5% of Israel's aggregate exports - representing a 12.6% increase compared with 2009. In 2010, the venture capital investments constituted 30% of the overall amount invested in Israeli hi-tech companies, compared with 37% in 2009 and 38% in 2008. Investment activity continued to show a decline in the number of investments by Israeli VC funds. BDO Israel
BDO Israel DOING BUSINESS IN ISRAEL Capital Invested in Israeli Hi-Tech Companies by Israeli VC Funds, Foreign and Other Investors (%) 2001-2010 In 2010, four Israeli companies made initial public offerings on the Nasdaq. These IPOs followed a two-year period (2008 and 2009) in which no Israeli company went public in the US. After two years during which the market almost completely “dried up”, relationships between issuing companies and investors have been resumed in the current year. The following graphs illustrate the amount of capital raised in the U.S. and through European public offerings by Israeli hi tech companies: Capital Raised in IPOs on the US Stock Exchange by Israeli Hi Tech Companies in 2001-2010 87 2 72 1 0 6 4 4 7 0 0 73 2 0 0 60 30 23
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Page 60 and 61: 5.5. PROPRIETARY RIGHTS 58 BUSINESS
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72 ACCOUNTING AND AUDITING PERSPECT
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74 INVESTMENT INCENTIVES AND TRADE
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106 TAXATION Under the recent tax r
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108 TAXATION (d) More than 50% of o
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110 TAXATION 8.2.2.6. Dividends Rec
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112 TAXATION (3) Location of fixed
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114 8.2.3.4. Rental Income from Out
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116 TAXATION "Accommodating Year”
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118 TAXATION "Privileged Securities
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120 TAXATION 8.2.4.3. Tax exemption
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8.3.4. Sale of Stocks 122 TAXATION
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124 TAXATION 8.3.7.3. Setting-off C
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126 TAXATION ♦ According to the r
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8.5. TAXATION OF TRUSTS 128 TAXATIO
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8.6.1. Definitions: 130 ♦ Israeli
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132 5) Certain services rendered to
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8.8.6. Real Estate Companies 134 TA
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8.10. TAX TREATIES 136 TAXATION As
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138 Dividends % Interest % TAXATION
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140 FOREIGN EXCHANGE CONTROL AND PR
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10.3. ISRAEL LAND ADMINISTRATION OF
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11.2. KEY FIGURES FOR DECEMBER 31,
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Example A NIS Example B NIS APPENDI
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APPENDIX 2 Industrial enterprises m
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Ministry of Justice 29 Tsalch Adin
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Israel - US Binational Industrial R
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BRAZIL Embassy of Israel S.E.S Av.
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ECUADOR Embassy of Israel Av. La Co
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IVORY COAST (COTE D’IVOIRE) Embas
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PANAMA Embassy of Israel Edificio P
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THAILAND Embassy of Israel Ocean To
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REPUBLIC OF THE FIJI ISLANDS Embass
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