By Amit Acco, Partner |
The licensing of a Construction company Is crucial for any construction company to operate in Israel. A contractor in classification C5 is a contractor is with the highest construction capacity.
The registration of construction is a gradual one, meaning that a contractor can ask for his classification to be raised from C1 to C2 up to C5, but this by itself takes not less than 5 years.
Another option is to buy a company that has a C5 classification and then in practice, the purchasing company instantly becomes the owner of a company with a C5 and he can perform work with an unlimited financial scope. The disadvantage of this option is that the process of buying a company with a C5 is an extremely complex process and the company has to meet a great many conditions that the Registrar of Contractors sets in order to qualify the work of the company with the higher classification. Also, although the buyer becomes the owner of a C5 very quickly, the buying process ends after many, many years.
To determine the correct process for application, there is also a need to specify the exact type of license that is required, namely Infostructure or building. We also need to know if the company that wishes to register is a Parent company or another company already registered as a C5 contractor. In such an exception, we can expedite the process to obtain C5 for the parent company.
Kan-Tor & Acco is well experienced in this legal field of constructors registration in Israel and can provide your company with the best legal service and advice.
