Did you Know? Change of Employers – Employee Transfers
We are pleased to present you with our first quarterly update for 2025, focusing on the local Israeli treatment of employee transfers during changes in employers. Israeli Market Delivers! Despite the ongoing security situation, the local market has shown remarkable resilience. Israel’s dynamic and innovative economy continues to attract interest from both domestic and international […]
Alternative Investments in Infrastructure: Challenges and Opportunities in 2025
We are pleased to invite you to a unique morning session on Alternative Investments in Infrastructure: Challenges and Opportunities in 2025. In this event, held in collaboration with Schroders, we will explore global trends and opportunities in infrastructure investments in 2025, discuss equity and debt structures, and delve into the financial, regulatory, and legal aspects […]
Rights of Reservists and their Spouses; Protections for Family Members of Soldiers Who Fell in combat
Although ceasefires are in effect on both the southern and northern fronts, there remains a significant reserve duty burden, with accompanying effects impacting reservists, their spouses, and their workplaces. As a result, a collective agreement has been signed with a primary goal of expanding and extending the arrangements applying to reservists and to their spouses […]
New York Legislature Passes the Health Information Privacy Act
The New York Assembly and Senate have passed the New York Health Information Privacy Act (the “Act“), establishing a comprehensive framework for the processing of health data. The Act joins other state-level health privacy laws in the US, such as the Washington My Health My Data Act and the Nevada Consumer Health Data Privacy Law […]
ISA Published for Public Comments the Draft Rules Regarding Notification to the ISA by Exempt Entities
We would like to bring to your attention that on January 2, 2025, the Israeli Securities Authority (the “ISA“) published for public comments the Draft Rules for the Regulation of Payment Services and Payment Initiation Law (Notification to the Israeli Securities Authority by Exempt Entities) (the “Draft Rules“). Section 3(a)(6) of the Regulation of Payment […]
The ITA Publishes an Updated Version of its Guidance and Safe Harbor for SAFEs
The Israel Tax Authority’s Guidance Yesterday, following extensive discussions with leading advisors, with the participation of our firm, the Israel Tax Authority (the “ITA”) published an updated version of the guidance document originally issued on May 16, 2023, regarding the tax classification of Simple Agreement for Future Equity (“SAFE”) instruments as investment instrument for […]
January 2025 Foreign Workers Update
Immigration law is a dynamic field that frequently undergoes revisions. In this update, we review important changes of which you should be aware. They impact the entrance of foreign citizens into Israel in general, and particularly the engagement of foreign employees. Additional changes are expected in the near future, so it is important to stay […]
Recent Developments in IP Case Law on Generative AI (4th Update)
In this fourth update on IP developments concerning generative AI, we highlight three significant developments: the UK government’s new consultation on AI and copyright, California’s groundbreaking transparency requirements for AI developers, and the evolving industry approach to AI training data. We invite you to consult with us to revisit your use of data sets as […]
Update on the Industrial Sector Grant Program for Emission Reduction through GHG Capture and Treatment
We would like to update you that the Ministry of Economy and Industry published another Director General Directive, numbered 4.80, regarding a grant program intended to support the industrial sector in emission reduction through greenhouse gas (GHG) capture and treatment (hereinafter: the Emission Capture Grant Program and Director General Directive 4.80). This publication follows the […]
Update on the Industrial Sector Grant Program for Adapting to the Carbon Tax
We would like to update you that last week the Ministry of Economy and Industry published for public comments Director General Directive 4.79, regarding a grant program intended to support the industrial sector in adaptation in light of the expected increase in fuel tax – “Carbon Tax” (hereinafter: the Grant Program and the Director General […]
Capitalizing on the U.S. Capital Markets: Trends and Insights for 2025
As the U.S. capital markets are gearing up for a fantastic year ahead, join us for an in-depth discussion on “Capitalizing on the U.S. Capital Markets”, exploring the trends and challenges expected to shape 2025. This distinguished panel will provide actionable insights into how businesses can thrive amidst regulatory shifts, policy priorities, and new economic […]
FTC Implements Major Revisions to Children’s Online Privacy Protection Rule
On 16 January 2025, the Federal Trade Commission (“FTC“) announced the finalization of a significant revision to the Children’s Online Privacy Protection Act’s (“COPPA“) Rule, placing stricter obligations on companies that collect, process and share personal information from children under the age of 13. This revision aims to strengthen privacy protections for minors, provide parents […]
New Rules on Entry to Israel by Visitors from Visa-Exempt Countries
As of January 2025, visitors to Israel from visa-exempt countries (countries that visitors from which, prior to traveling to Israel, do not require a visa obtained in advance and may obtain their visa at the port of entry to Israel) must now obtain an ETA-IL (Electronic Travel Authorization) to enter the State of Israel. A […]
Updated threshold for classifying individuals as Sophisticated Investors
On January 2, 2025, updated amounts were published for the definitions outlined in the First Schedule of the Securities Law, 1968 (the terms “Sophisticated Investor” and “Securities Law,” respectively). Starting in 2025, the updated amounts for a “Sophisticated Investor” who is an individual are as follows: The total value of their liquid assets exceeds 8 […]
Real estate properties in Israel: New Temporary provisions offer an exemption from real estate transfer tax
Real estate properties in Israel: New Temporary provisions offer an exemption from real estate transfer tax as part of a company’s liquidation as well as partial liquidation A new temporary provision enacted on 31 December 2024, offers a significant tax relief opportunity for the liquidation of ‘closely held companies’ during 2025. Under these provisions […]
Reform “What is Good for Europe is Good for Israel”
Dear Clients and Colleagues, Today, January 1, 2025, the “What is good for Europe is good for Israel” reform comes into effect. This is a comprehensive and significant reform in the field of imports, covering four different sectors: standards, food, cosmetics, and energy efficiency in electrical products (the main part of the reform in […]
Our New Labour Law Department Head
This year, Herzog lost Orly Gerbi, may she rest in peace, a beloved figure and founder of its Labour Law Department. Orly left a great void in the Labour Law Department and in all our hearts. The firm’s management has decided to appoint Adv. Moria Tam-Harshoshanim as Head of the Labour Law Department. Moria began her journey at […]
New Partners for the New Year!
We are proud and excited to introduce Herzog’s newest partners, who represent the forefront of our firm’s outstanding legal team. We are confident that these exceptionally talented professionals, most of whom have grown within our own ranks, will continue driving our success, achieving new milestones, and fostering further growth. We trust each of you wholeheartedly […]
Strategizing for Success: Navigating Exits in Unpredictable Business Landscapes
As business landscapes evolve unpredictably in Israel and worldwide, it has become increasingly essential to strategize effectively for a successful exit. Tuesday, 21 January 2025, 09:30-12:30 IST Herzog, 6 Yitzhak Sadeh St, Tel-Aviv, Israel ♦ 09:30 Registration and Networking ♦ 10:00 Opening Remarks Ran Hai Co-Head, Corporate and Securities, Herzog ♦ 10:10 M&A Panel […]
Taxation of Undistributed Profits and Personal Service Companies
Dear Clients, Friends, and Colleagues, Further to extensive discussions during recent weeks, the Finance Committee of the Knesset (the Israeli Parliament) approved a new Bill which imposes a new regime for the taxation of undistributed profits and Personal Service Companies (hereinafter referred to as “the Bill“).[1] The Bill is now pending the final approval of […]
EDPB Adopted Opinion on Personal Data in Developing and Deploying AI Models
Last week, the European Data Protection Board (“EDPB“) has adopted an opinion on the use of personal data for the development and deployment of AI models. The opinion, which was requested by the Irish Data Protection Authority, looks at three issues related to privacy and AI: When and how AI models can be considered anonymous; […]
Herzog’s Comparative Guide on Key Rights in US States Privacy Laws – December 2024
The legal landscape surrounding data protection in the United States has undergone significant changes over the past couple of years. While various attempts to legislate a comprehensive federal privacy law have not succeeded, more and more US states have moved forward with adopting their own comprehensive privacy laws. To date, 19 states have enacted comprehensive […]
Publication of a Staff Legal Position Regarding Trust Activities
We would like to bring to your attention that on December 9, 2024, the Israeli Securities Authority (the “Authority“) published a staff legal position regarding the applicability of the Payment Services and Payment Initiation Law, 2023 (the “Law” and the “Staff Position” respectively) to trust activities. The purpose of the Staff Position is to outline […]
The UK Online Safety Act – Ofcom Releases First Set of Regulatory Guidelines
The UK Online Safety Act (“Act“) has entered its implementation phase. On 16 December 2024, Ofcom, the UK communications regulator, published its first major policy statement and accompanying regulatory guidelines, which focus on safeguarding individuals from illegal online harms. The statement outlines notable developments for in-scope online service providers, including user-to-user and search services (“Providers“). […]
Rising to new heights – navigating the air mobility landscape
We invite you to join us on January 15, 2025, for an event led by Mobilion Ventures, Earth & Beyond Ventures , Deloitte Catalyst, and Herzog, where we will dive into the future of air mobility. This event will explore investment trends, market opportunities, and cutting-edge technologies in the industrial, logistics, and defense sectors. In collaboration with NVIDIA Inception Program, EcoMotion Community, and […]
VAT Updates for 2025 – VAT rate increase, Israel Invoices Reform, and the Economic Plan Bill
Dear Clients and Friends, We would like to bring to your attention the latest updates in the field of value-added tax that will come into effect on January 1, 2025. Increase in the VAT rate to 18% As of January 1, 2025, the VAT rate in Israel will increase by one percentage, from 17% […]
Key Insights from new ISA position on Collective Investment Schemes: What You Need to Know
On November 18, 2024, the Israeli Securities Authority (“ISA”) published a circular on the offering of collective investment schemes (the “ Circular“). The Circular presents several new insights on how the ISA interprets and applies the Joint Investment in Trust Law, 1994 (“Mutual Funds Law“) and the Regulation of Investment Advice, Investment Marketing, and Portfolio […]
Israeli Employment Law – Did You Know? End of Year Employer ‘To-Do’ Check List
We are pleased to present you with our last quarterly update for 2024. Once again, we present you with our End of Year Employer ‘To-Do’ Check List. Obviously, the following checklist cannot cover all the important tasks which employers face at the end of the year, but we detail herein some of the most pertinent […]
Publication of Legal Staff Position on Reseller Model Activities; and Publication of Reporting Directive for Payment Companies
We would like to bring to your attention that on November 25, 2024, the Israel Securities Authority (the “Authority”) published a legal staff position regarding activities in the Reseller business model that do not require a license under the Payment Services and Payment Initiation Law, 2023 (the “Law” and the “Staff Position,” respectively). Additionally, on […]
Compensation Scheme for Businesses in Northern Localities (September-October 2024)
On November 25, 2024, the Israeli Parliament (Knesset) Finance Committee approved the Property Tax Regulations (Damages Payments) (War Damages and Indirect Damages) (Iron Swords) (Temporary Order) for September-October 2024. These regulations provide compensation to businesses in northern localities through three alternative routes: (1) Turnover Route; (2) Salary Expenses Route; and (3) Red Route. Key Details […]
