The statistics say it takes 11 days to open an ltd company in Israel.
REGISTER THE COMPANY AT THE ISRAELI REGISTRAR
The first step starts with choosing the name for the company (3 optional names are submitted to the Registrar) and creating AOI (articles of incorporation are one of those pesky files that a startup also needs when it opens a bank account).
You will be requested to submit the following documents:
Registration With the Registrar of Companies
Copy of the Articles of Association.
Declaration of initial shareholders.
Declaration of initial directors.
Registration fee - make sure you have the payment confirmation handy to upload.
OPEN BANK ACCOUNT
Startups are not typical small businesses, and a funded startup's bank account and credit card needs are very different from a traditional SMB. Choose banks that are working with startups and understand your needs. A bank is a critical piece of an early-stage company’s financial infrastructure. The best startup banks need to be easy to use and access. Excellent phone support is also vital, as startups may need to wire (or receive) large amounts. A bank should have a simple and easy integration of the bank feeds into accounting software. This automation will save founders time if they do their bookkeeping. And will save them money if they pay outsourced accountants to do the work. You will likely need to go to the bank in person to set up your account.
Registering an Israeli company with the Tax Authorities
Following the company incorporation and the opening of the bank account, an application for tax registrations is submitted. An accountant, a lawyer, or yourself could make the application. It covers all the relevant tax offices – VAT, Income Tax, Tax Deductions (Payroll, etc.), and Bituach Leumi (National Health Insurance).
First, you will have to take a trip to the nearest VAT station to your location.
You will need to bring the following documents:
1. Form 821
2. Incorporation Documents: Including your Company Articles of Association.
3. board of director resolutions.
4. Bank account confirmation.
5. Shareholders' I.D.
Once you have your Licensed dealer certificate, you can register your Income Tax file.
If you like driving, you can go in person or online.
When you grow and have employees, don't forget to register the Tax Withholding by submitting the same form. The registration of Bituah Leumi is completed automatically following the ITA registration.
The location of VAT and ITA registration is based on the address of the Company.
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