Israel is known also as SUN – Start-Up Nation. The official languages in the country are Hebrew Arabic and English and after the big immigration from Russia in the 90’s Russian is also very common.
Israel is highly urbanized and economically developed country. The economy remains stable and dynamic despite the war against Hezbollah, regular terrorism threats and military campaigns against Hamas. The country has a thriving high-technology sector attracting foreign investments and the discovery of large offshore natural gas deposits has improved its energy security and balance-of-payments prospects.
In the 2019 Index of Economic Freedom, Israel is ranked at being the 27th freest in the list with a score of 72.8 up +0.6 from the previous year. Israel is also ranked 2nd among the 14 countries in the Middle East and North Africa region, and its overall score is above the regional and world averages.
It has been made easier to register property through the increased transparency of information as Israel upgraded their official website that provides the relevant information for the public regarding land registry services. Israel has also made registering property easier by reducing the time needed to obtain a municipal tax clearance certificate. In 2018 Israel was ranked the 130th easiest country for registering property, which is in fact not very easy at all, however, due to the above changes made, in 2019 the country had dropped significantly to 89th easiest place.
Israel has also changed its labour market regulation including working hours per week, overtime hours and maternity leave.
These reforms that Israel has made makes it easier overall to do business there, which is proven as the country’s ease of doing business in 2019 is ranked at 49 out of 190 countries, which is down 5 places from 2018 where it was in 54th place.
World Business Culture provides you with invaluable information and knowledge for doing business in Israel.