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Sunday, 18 February 2018 13:51

High Tech Work Visa (HIT)

Classification of Company Eligibility

The categorization of the companies is done by the Central Bureau of Statistics upon the company’s initial registration with the Company Registrar in Israel. This is confidential State information, and is not published anywhere. A special form will be needed to be signed to allow the Innovation authority requesting the company classification from the Central Bureau of Statistics.
 
According to the Innovation Authorities Regulations, the following will be reviewed by them in order to determine if the company qualifies as a “Hi Tech” company for the purposes of the HIT visa regulations:
 
A.      Is the Sponsoring Company registered in Israel?
 
If yes:
 
B.      In the 3 years prior to application submission: did the company receive from the Innovation Authorities any of the following:
 
1.      Monetary funding, or
2.      Tax exemptions, or
3.      Approval as an R&D company for public listing in the Tel Aviv Stock Exchange.
 
If any one of the above was received from the Innovation Authority, the company will be regarded as eligible as a “High Tech” Company.
 
If none of the above are met:
 
C.     The Innovation Authority will examine the company’s field of industry and operation, and the company will be eligible if they are involved in any one of the following fields:

1.      Manufacturing of pharmaceutical products, or
2.      Manufacturing of computers and its components or electrical or Optical components, or
3.      Computer programming, computes consultation, Computer related services, or
4.      Research and Development (not including social sciences), or
5.      Manufacturing of aircrafts or space ships and their components, or IT processing and data storage.

If the company meets one of the above criteria, the company will be regarded as eligible being regarded as “High Tech” Company.
 
If none of the above is met:
 
D.     Does the R&D costs of the company exceed 7% of the overall sales turnover in the previous calendar year or at least 15% of its employees are R&D employees.
 
If this criteria is met, the company will be eligible for classification as a “High Tech” Company.
 
KTA will assist its clients and any potential clients in pre-assessing the company eligibility for the HIT process.

Thursday, 18 January 2018 09:01

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