The following is a translation from the instructions on the website of the Registrar of Companies of how to register a company in Israel:
In
order to register a company in Israel
1.
Company bylaws (Article 8 of the Companies
Law)
A.
The bylaws shall include the following
information (Article 18):
i.
The company name - A company may register
any name in accordance with paragraphs 26 to 31 of the Companies Law.
ii.
The company’s purpose
a.
In general, the company may indicate
merely that it intends to engage in any lawful business (section 32 (1) of the
Law). A company that wishes to specify the types of businesses it will engage
in should indicate that in the bylaws and should indicate on the form (“Request
from the Registrar of Companies”) Article 32 (3) of the Law.
iii.
Details of the registered share capital
iv.
The bylaws must list the company’s
registered share capital.
a.
Exception: If the stock has no par value,
there is no need to list the amount of share capital, only the number of
shares.
v.
Details of other restrictions
a.
Whether the company shares are restricted
or unrestricted
B.
An attorney must verify the bylaws with
his signature and stamp.
C.
Except regarding the company which may be
changed, for any other mistake in the bylaws an emended version of the bylaws
must be submitted with the stamp and signature of an attorney.
2.
Affidavit of original directors (section
8)
A.
If the director is a corporation, the signature
on the affidavit of the director must be made by a person on behalf of the
company, who is authorized to sign on behalf of the company.
3.
Important items on the registration
application (Form 1)
A.
The proposed company name must be
identical to the name in the bylaws.
B.
Check the appropriate option for the
liability of shareholders.
C.
If the application for registration of a
company is tendered by an organization, the signature on the request must be made
by a person on behalf of the company, who is authorized to sign on behalf of
the company.
D.
Fill-in the lines for the company's
capital in accordance with regulations (and delete the inapplicable fields).
In addition, the registered capital should be equal to
the combined capital "shares without par value / shares of par value ...".
E. The
declaration must be signed by the applicant who wishes to incorporate the
company and by an attorney who can confirm the details of the applicant.
4. Statement
of shareholders
A. A separate
sheet must be included that lists the affidavits of all the shareholders, each duly
attested in front of an attorney.
B. IMPORTANT:
The affidavits of the shareholders must be written out in full, including the
names of the attesting shareholders and their identification numbers (don’t
write simply, “The above-mentioned shareholders appeared before me…”). If there
is only one shareholder then it is unnecessary to attach a separate affidavit;
the registration form is sufficient. Similarly, if there are multiple
shareholders, then the one who signs the application need not submit an
affidavit but the others must.
Company registration can be done by sending the documents
to the Registrar of Companies:
Corporate Authority - the Registrar of Companies, Legal Department - New Company
Registration
The company’s registration will be processed within 14
days of the receipt of the documents at the offices of Registrar.
And I found the following information Israel Company formation and Registration, Setting Up a Business in Israel:
Registering a Corporation in IsraelThere is no restriction placed on an overseas resident who wants to set up a corporation in Israel.
No minimum capital has to be proven for an overseas resident to obtain approval to set up a corporation or to open a bank account in Israel.
Everyone is allowed to establish a company in Israel , on condition that the company is not illegal or immoral.
The company may have a single shareholder.
The company name must not be similar to other company's name in Israel, or have a name considered deceitful or misleading by the registrar.
A company with limited liability should include at the end of its name "Ltd" or "Limited Liability".
The application to register a company has to incude:
The registration fee is NIS 2,345 . In the following years there is an annual fee of NIS 1,277
- Copy of the articles of association.
- Shareholders declaration.
- Declaration of primary directors willing to act as directors.The articles are in fact an agreement between the company and its shareholders and between themselves.
- The articles must include the company name, goals and details about the share capital.
Setting up a corporation in Israel through a lawyer takes 2 - 3 days and includes the following stages:
1. Preparing the Memorandum and Articles of Association. 2. Registration with the Companies Registrar 3. Adopting a resolution on the Directors of the Company/Authorized Signatories. 4. Opening a bank account for the corporation 5. Opening a file with the VAT Authorities 6. Printing tax invoices/receipts 7. Opening 2 files with the Income Tax
a. A Corporation file.
b. An Employers File (for the corporation employees)
Stages 1 - 3 are carried out by an attorney.
Stages 4 - 7 are carried out by a CPA.
The total average/initial cost of the lawyers and accountants fees excluding fees to the Companies Registrar amount to US$ 2,000- 2,500.
Bookkeeping FeesThe monthly payment to a CPA for bookkeeping is influenced directly by the extent of the work and quantity of documents. Nevertheless, the average monthly fee for small corporations is $300 - $600 a month, for medium corporations: $1,000 - $3,000 a month and for preparing an annual balance sheet, $1,300 - $3,000.
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