מאת: Юлия Гольдин


Opening a bank account in Israel, the transfer of funds from abroad.

In recent years, there has been increase in the number of new immigrants from Russia and Ukraine. As a rule, it is businessmen who seek ways to settle and transfer business in the most favorable conditions and loyal than Russia and Ukraine, in terms of the country's economy. A new round of  Alia VIP  visibly traced in 2015 and does not subside with the onset of the new, 2016.

Typically, entrepreneurs come families are interested to purchase a house, invest in high-tech and other projects on the territory of Israel. Naturally, there is a need to transfer capital and place it freely in Israeli banks. As you know, new immigrants are exempt from duty to report and pay taxes on income acquired abroad for 10 years from the date of arrival. However, despite this, the Israeli banks, sometimes even quite reasonable from the point of view of the law, want to know the origin of the imported money.

This is due to several reasons, based on the performance of Israel's international agreements on the exchange of information, as well as with the adoption of the US FATCA law, which entered into force on 1 July, 2014. FATCA law was passed in order to deprive US citizens who have accounts abroad, US escaping taxation. Under the law, foreign banks are required to report to the IRS (US tax inspection service) data on individual accounts that are tax residents of the United States. Deviation from these obligations may result in severe financial sanctions by the US tax authorities.

However, not only the actions of the US tax residents are subject to meticulous inspection of Israeli banks. A number of intergovernmental agreements on the exchange of information, joined by Israel, entered the list of OECD countries, led to a new indication Israeli central bank, according to which Israeli banks conduct inspections of remittances from foreign tax residents. Accordingly, the fear of Israeli banks have to deal with so-called "black money" is the cause of excessive caution.

If a businessman wants to bring the capital of Russia, from the account, which is open in its name, there is less discomfort for the newly created bank customer. However, when it comes to corporate accounts immigrant, or if it comes to the client's account in other countries, such as Switzerland, the Israeli banks are excessive and sometimes unwarranted anxiety and perseverance, pushing additional requirements to repatriate, which are difficult feasible and ultimately hinder the transfer of money to Israel.

As a rule, reporting requirements for funds exceed regulatory requirements not only of Israel, but also Russia, so potential customers Israeli banks are at an impasse, from - the inability to submit all requested documents, because Russian tax law does not require these procedures.

Lawyers companies  DTKGC , together with Russian colleagues, legal experts in the field of taxation have developed an established mechanism, taking into account the Russian legislation and the requirements of the Israeli banks to meet the requirements of the Israeli banks, to prove that the incoming funds are absolutely legal, if the client's funds come from Russia, Switzerland and other foreign banks.

In close cooperation with our Russian colleagues, company lawyers  DTKGC  conduct negotiations on behalf of clients with an Israeli bank, prepare a legal expert opinion, all the necessary documentation, taking into account the Russian and Israeli law, and, if necessary, in detail explain the bank aspects of the taxation of the Russian Federation, indicating their origin and the way in which these funds were to be taken into account in Russia. 

תנו לעו"ד מומחים ומנוסים לייצג אתכם נאמנה – בדיסקרטיות מלאה

לייעוץ ראשוני, פרטים נוספים ובכל שאלה פנו אלינו כעת: סניף מרכז 03-6109100סניף חיפה 04-8147500.

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