Saturday, July 2nd | 3 Tammuz 5782

March 24, 2019 8:07 pm

Israeli Citizens to Become Eligible for US Investor Visas as of May

avatar by Gad Lior / CTech

An Israeli flag and an American one are projected on a part of the walls surrounding Jerusalem’s Old City. Reuters / Ronen Zvulun.

As of May 1, Israeli citizens will be eligible for work permits in the US provided they can commit to investing “a substantial amount of capital” in the US and, in doing so, employ American citizens. The granting of the visa, known as the E-2, was approved last week after seven years of negotiations between both countries and is expected to come into effect in early May, a spokesperson for the Israeli Ministry of Foreign Affairs told Calcalist in a phone call Saturday.

The level of investment required for an E-2 visa varies by the nature of the business, but applications must show how the investment will lead to the hiring of US workers, according to the US citizenship and immigration website. The E-2 program also allows investors to man key positions in their companies with people of the same nationality.

Israeli investors can either purchase an existing business or establish a new one in order to be eligible for the E-2 visa.

The path to Israeli participation in the E-2 program started with a treaty signed by President Barack Obama in 2012. However, implementation lagged behind as Israeli law did not contain a similar provision for US citizens to invest in Israeli companies and obtain work authorization. The issue was resolved in June when the Israeli parliament’s Internal Affairs Committee created the B-5 visa for American entrepreneurs interested in building up their businesses in Israel.

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