Set-up Your Company in Israel
To establish a branch or a subsidiary in Israel, a foreign company is obliged to register with the Registrar of Companies. It can be a complicated process for any business looking to establish an entity in Israel following the legislation and under strict supervision from the ministry. NNRoad can guide and help throughout the company set up process in Israel. Our trained and experienced team will provide full support in the company formation process so that you start your business operations legally in Israel without the need of understanding the complex business policies.
Business entities you can open in Israel
The most common form of business entity in Israel is a limited liability company with capital stock (share capital). In this structure, the liability of each shareholder for the company's obligations is generally limited to the par value of their shares.
A partnership can be a general partnership or a limited partnership. A limited partnership must have at least one general partner. A limited partner is not allowed to take part in the management of the partnership.
This type of business entity is found mainly in agriculture, transportation, and certain types of marketing operations associated with agricultural products. Co-operatives are based on a social and ethical ideology of partnership and equality and are managed through democratic principles in favor of all their members.
4) Non-profit Organizations
Typically, academic institutions, hospitals, charitable organizations, and municipalities are organized as non-profit organizations.
5) Subsidiaries and Branches
A subsidiary is a separate legal entity and its shareholder is a foreign company. The liability of the foreign company is limited to the amount of its investment in the subsidiary, subject to piercing the corporate veil considerations.
Our Company Formation Service Includes:
- Confirm the selection of a business entity type.
- Assist with the name or business name of the entity.
- Guiding and preparing legal documents like an Application form for company registration, Memorandum, and Articles of Association and other incorporating documents if needed and registration with Companies Registrar.
- Translations of documents in Hebrew and Arabic if required.
- Assist with registration of the company with the relevant Tax Authorities.
- Support with after company setup services.
- Assist with other licenses, if required by Law.
- Bank Account Opening assistance and registration with the VAT institute.
PEO/Employer of Record in Israel
Hire employees in Israel while NNRoad handles all employer liabilities. No local entity needed.
The employment regulations in Israel are complex and therefore if any organization decides to employ staff in Israel it is advised to administer the employment through an experienced organization that can handle all the Employer of Record responsibilities. NNRoad will act as an Employer of Record (EOR) to employ staff on your behalf in Israel without establishing a legal entity ensuring full compliance with all the local laws.
NNRoad's PEO/Employer of Record Service in Israel Includes:
- Engaging employees through local labor contracts including contract administration, engagement, extension termination, and conversion to a permanent hire.
- On-boarding and off-boarding employees following Israel labor law practice.
- Registration of employees with the social security board and with the tax office.
- Complete payroll solution and mandatory benefit administration.
- Employee management according to local laws, including employee record, timekeeping, bonus, and allowance management, expense and claims, and leave employee database management.
- Payment management, including invoicing customers/clients and salary payments.
Company incorporation is necessary before setting up of Israel Payroll. It could take weeks or months to have a company set up in Israel. This can be time-consuming, therefore, NNRoad can help eliminate it through Outsourcing Israel Payroll. We at NNRoad; understand your payroll requirement and provide a cost-effective payroll solution. We take care of all HR operations and also look after standard deductions which include Social Security, National Insurance, and Income Tax so that you can focus on core business activities.
- Registering and de-registering the necessary company and personnel information for payroll calculation in compliance with local rules.
- Registering all local employees with the social security board, if required.
- Calculation of gross salary, salary deductions, such as social insurances, unpaid leaves, etc., and net salary based on information provided by the Company including irregular payments such as incentive/bonus, allowance, etc. if applicable.
- Assist with Insurance issues, as required.
- Pro-rata calculation for people who join/resign.
- Providing a monthly payroll summary to the Company.
- The monthly issue of electronic pay-slips.
- Prepare annual payroll related reconciliation report.
Whether it’s a startup or a well-established organization; one of the important factors that count for any organization’s financial well-being is efficient and accurate accounting service. The most effective and cost-efficient solution is to have an expert take care of it. At NNRoad, we infuse best practice along with professional and experienced accountants and tax experts who look after all the financial transactions and tax saving in full compliance with the laws in Israel.
- Handling all the bookkeeping records for companies and individuals.
- Preparation of Monthly or bi-monthly reports to different government authorities.
- Preparation of accounting reports.
- Preparation of year-to-date balance sheet.
- Monthly and Annual Tax Declaration.
- Assisting clients in representing before Tax Authorities wherever permitted in compliance with local law.
- Consolidation accounting and preparation of group financial statements.