Transferring a significant sum to an Israeli bank account often involves extensive document requirements, long waits and high fees. There are other routes — for example, a direct transfer from a bank abroad into a savings policy with an Israeli insurer, with no need for an Israeli bank account.
What it includes
- Mapping the source of funds and the documents required.
- A direct transfer from a bank abroad into a savings policy with an Israeli insurer — no Israeli bank account needed.
- Currency and conversion aspects.
- The tax aspects of the transfer, and a review of the rights of olim and returning residents, in coordination with an accountant.
- Financial integration: pensions, insurance and rights in Israel.
Who it is for
- New olim with savings abroad.
- Returning residents who want to bring their capital home.
- Israelis living abroad who want part of their wealth working in Israel.
Every transfer is subject to the receiving institution’s prior approval and a know-your-customer (KYC) check, and it may decline a transfer. Israeli financial institutions do not accept funds originating in Russia, Belarus, Iran, North Korea or Myanmar.