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OVERVIEW OF ISRAEL’S HIGH-TECH INDUSTRY Capital Raised by Israeli Life Science Companies ($M), 2001-2010 30 0 BDO Israel
4. BUSINESS STRUCTURE 4.1. BUSINESS ORGANIZATIONS 4.1.1. General BDO Israel Most of the legal entities in the modern Israeli business world operate under Israeli law. These legal entities include companies, partnerships, cooperatives, and nonprofit organizations. Individuals may conduct business without establishing any separate legal entity. 4.1.2. Companies The most common form of business entity in Israel is a limited liability company with capital stock (share capital). The Companies Law, 1999, which went into effect on February 1, 2000, oversees corporate activities. However, issues pertaining to liquidations, pledges and secured bonds are still settled by the Companies Ordinance, which preceded the Companies Law. A company can either be limited by capital stock or unlimited - in which case its stockholders have no ceiling to their liability. No requirements exist regarding the nationality or residency of stockholders and company directors. In order to be incorporated, a company must register with the Registrar of Companies at the Ministry of Justice. An incorporated company is required, inter alia, to have Articles of Incorporation. The Articles of Incorporation state, inter alia, the company's name, objectives, the composition of its capital stock (ordinary, preferred, etc.), the number of shares the founders undertook to purchase and the stockholders’ liabilities. The Articles of Incorporation define the rules for managing the company and the relationship between the company and its stockholders and directors. They also determine the procedures for amendment of the Articles. 31
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Page 7: 7. INVESTMENT INCENTIVES AND TRADE
Page 10 and 11: 8 THE ISRAELI ECONOMY IN 2010 The I
Page 12 and 13: 1.2.4. Fiscal Developments 10 THE I
Page 14 and 15: 12 THE ISRAELI ECONOMY IN 2010 1.2.
Page 16 and 17: 14 THE ISRAELI ECONOMY IN 2010 Comp
Page 18 and 19: 16 ISRAEL - GENERAL OVERVIEW Israel
Page 20 and 21: 2.4. ISRAEL’S CURRENCY 18 ISRAEL
Page 22 and 23: Legal holidays in 2010 and 2011 are
Page 24 and 25: 22 OVERVIEW OF ISRAEL’S HIGH-TECH
Page 34 and 35: 32 BUSINESS STRUCTURE The Companies
Page 36 and 37: 34 BUSINESS STRUCTURE with respect
Page 38 and 39: 36 BUSINESS STRUCTURE recommendatio
Page 40 and 41: 38 BUSINESS STRUCTURE TASE regulati
Page 42 and 43: 40 BUSINESS STRUCTURE ♦ Non-profi
Page 44 and 45: 4.2.2. Prerequisites 42 BUSINESS ST
Page 46 and 47: 44 BUSINESS STRUCTURE As mentioned
Page 48 and 49: 46 BUSINESS STRUCTURE 4.3. INSURANC
Page 50 and 51: 5.1.2. Distribution of Employees 48
Page 52 and 53: 50 BUSINESS ENVIRONMENT As of Janua
Page 54 and 55: 5.2. ANTITRUST LAW 52 BUSINESS ENVI
Page 56 and 57: 5.3. INTERNATIONAL TRADE 54 BUSINES
Page 58 and 59: 5.4. TRADE AGREEMENTS 56 BUSINESS E
Page 60 and 61: 5.5. PROPRIETARY RIGHTS 58 BUSINESS
Page 62 and 63: 60 ACCOUNTING AND AUDITING PERSPECT
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80 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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