Israeli Ministry of Economy Director General Amit Lang this week signed off on an executive ministry program entitled "Innovation Visas for Foreign Entrepreneurs". In coming months, the Office of the Chief Scientist at the Israeli Ministry of Economy and the Population and Immigration Border Authority will complete preparations for the program, in which visas will be given to foreign investors from abroad. These investors will be allowed to develop technological initiatives in Israel for a period of up to two years.
Entrepreneurs who after the two years seek to establish a company in Israel will be eligible to apply for an "Expert Visa" for an additional period of time and this will allow them to receive reimbursement for their work and the companies will be able to apply for support through programs operated by the Office of the Chief Scientist.
The initiative, led by the Director General of the Israeli Ministry of Economy, aims to contribute to Israel's economy by bringing knowledge and experience in many fields including those missing in Israel, through the arrival of the entrepreneurs.