US, Israel to ease restrictions on investors

The government on Sunday approved a proposal drafted by Interior Minister Gideon Sa'ar that will ease entry restrictions for Americans wishing to invest in Israel and for Israelis seeking to invest in the United States. The approval is part of a pilot program agreed between the U.S. and Israel to create a new track for Israeli and U.S. businesspeople to invest in each other's countries.

Under the program, Israelis wishing to make a significant investment in the U.S. would undergo an extensive background check in both countries before being given the U.S.'s special E-2 entry visa, which allows an extended stay in the U.S. for the purposes of opening and managing a business.

"The U.S. is the main source of foreign investment in Israel, and at the same time is one of the main targets for Israeli investment. Issuing investor visas is another facet of the free-trade agreement between Israel and the U.S. and promotes further economic cooperation between the two countries," Sa'ar said.

The Population and Immigration Authority, which worked side by side with the Interior, Foreign, and Finance ministries to formulate the proposal, will be tasked with its implementation.

For U.S. investors in Israel, steps will also be taken to ease entry requirements for families and for professionals required for an investment project.