By: Yoav Noy, Partner
As part of the Israeli government plan to increase skilled manpower for the hi-tech industry – the Israeli government has decided to encourage the employment of students and graduates of hi-tech studies by Israeli Hi-Tech companies as follows:
1. Currently the government allows a maximum of 500 foreign workers , to be employed by a high-tech company, without the obligation to pay a monthly wage of at least double the average salary, provided that the foreign worker is one of the following:
- A foreign national who has completed a full academic degree at an institution of higher education in Israel in one of the following fields: Electrical Engineering, Electronics, Computers, Information Systems, Computer Science, Mathematics, Statistics, Optical / Electro-Optics Engineering, Communication Systems Engineering, Software Engineering, Data Science, Physics Precision and medicine, and
- not more than 3 years have passed from the date of graduation,
- provided that starting from the seventh month of his work, he will be paid no more than 150% of the average wage in the economy.
Or;
2. A foreign student who will be employed only part-time, along with studies leading to a full academic degree at a recognized institution of higher education in Israel in one of the high-tech professions.
A special committee will follow the implementation of the decision, the impact of the decision on Israeli workers and their wages in the high-tech industry, and the demand for foreign skilled labor and wages in the industry. Data regarding utilization of the program.
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