Volumes of legislation passed by the States of Jersey in the Channel Islands since 1771. Photo: wiki commons.

Israeli Minister of Finance Yuval Steinitz announced that foreign lawyers will now have permission to work in Israel. The Ministry of Finance hopes that the decision will open the Israeli market to international law firms and other businesses.

Additionally, the government hopes Israeli customers of foreign law firms will now have somewhere to turn to inside the country. However, foreign attorneys will still be bound by Israeli ethical guidelines, and foreign firms will need to have at least NIS 2 million in insurance in order to operate in the country, reported Globes.