US citizens who have an interest in investing in an Israeli business will qualify for a visa that will permit them to live and work in Israel on a temporary basis to manage and grow a business outfit. An announcement by the Israeli embassy in Washington on Tuesday confirmed that the program will be effectively open come 1st of May and will be reciprocated to Israeli citizens investing in the US. According to Elod Strohmayer, the visa progress has no cap imposed on it, and all applications will be treated individually. He emphasized the fact that the investors are to make significant investments in a business and not just make contributions to an NGO. The investor is expected to own nothing less than 50% of the company. Interested investors may submit their applications to any of the Israeli consuls handling its official diplomatic missions in the US. The consul must be one that hosts a commercial attaché that works under the Ministry of Economy and Industry. These Consuls are in Washington, Houston, New York, and San Francisco. According to Strohmayer, the investor is expected to proceed to an Israeli consulate after receiving all the necessary documents. After this, it is the job of the consulate to forward all the submitted documents to the Ministry of Economy together with a professional recommendation. The inter-ministerial committee will consider the application. The committee will then make a proposal on the application and submit it to the Minister of Interior to be approved.
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