By Amos Hacmun of Heskia – Hacmun Law Firm, Tel Aviv, Israel Introduction Israeli Inheritance Law, primarily defined by the Succession Law of 1965, establishes the legal framework for the distribution of assets following a person’s death. This legislation extends its reach to individuals who, while not residing in Israel at the time of their passing, held property or assets within the country’s borders. Consequently, beneficiaries who are not Israeli residents but are entitled to inherit from such estates must navigate the Israeli legal system to secure their rightful inheritance. A fundamental instrument in this process, particularly when the deceased did not leave a valid will, is the inheritance decree, officially termed a Succession Order. This judicial order, issued by the Israeli Registrar of Inheritance Affairs or the Family Court, serves as a formal declaration of the legal heirs and specifies their respective shares of the deceased’s estate. The inheritance decree is indispensable for non-resident heirs as it provides the necessary legal standing to claim and manage the inherited assets located in Israel, which can include bank accounts, real estate, and various other forms of property. Without this official confirmation of their rights, these heirs would lack the legal authority to engage with Israeli financial and legal institutions concerning the estate. Jurisdiction and Initial Considerations The jurisdiction of Israeli courts in inheritance matters is determined by the deceased’s residency at the time of death or the location of their assets. For individuals who were not residents of Israel, the presence […]
Category: News
The Israeli Ministry of Finance has proposed a bill that repeals the exemption previously granted to new immigrants and returning residents
The Israeli Ministry of Finance has proposed a bill that repeals the exemption previously granted to new immigrants and returning residents (hereinafter: “first-time Israeli residents”) from reporting their income outside of Israel for 10 years from the day of obtaining their status. This amendment was made in light of the threat from Western countries to put Israel on the blacklist of tax policy, which includes countries that legislate harm to other countries. The application of the law as currently proposed will affect those who change their status from June 1, 2025. Additionally, it states that the tax authorities will also be able to require the submission of reports by foreign companies controlled by a first-time Israeli resident. Apparently, the amendment clarifies that this is only about a reporting obligation and the exemption from tax will continue to be preserved for the 10 years, but experience teaches that once reporting is required, it could eventually lead to a tax liability or at least a demand. In light of the above, it is recommended for anyone considering making Aliyah, or who has left the country and 10 years have passed and they wish to return, to do so by May 31, 2025. Our office handles obtaining approvals for first-time residents of Israel and also tax planning before returning. For further details please contact our tax partner Adv. & CPA Yitzhak Fogel at yitzhak@hh-law.co.il
The story of the HH Art Project
For more than two decades, this project has welcomed ventures, exhibitions and events with various artists and creators. The project promotes painters, photographers and artists whose works of art have been presented in exhibitions, museums and private collections…. To read the full interview visit click here