Easing of Third Lockdown Restrictions
Dear Clients and Colleagues, Following a lockdown, which entered into effect on January 8, 2021 and imposed strict restrictions that prevented activity at many workplaces, the government decided to ease the restrictions as of this morning, February 7, 2021, at 07:00. Accordingly, after employees were not permitted to attend workplaces during the past few weeks […]
The ISA published a short guide which summarises the basic registration and ongoing requirements that apply to “Foreign Underwriters”
Dear Colleagues and Clients, On February 1st, 2021 the Israel Securities Authority published a short guide, which summarizes the registration and ongoing requirements that apply to non-Israeli corporations that wish to act as “Underwriters” in Israel. The Israel Securities Law, 1968 (the “Securities Law“) defines the term “Underwriter” as “an entity that took an Underwriting […]
Our client, Swapp raised $7M in a Seed financing round
Our client, Swapp, an AI-based Construction Planning company, raised $7M in a Seed financing round. The funding will be used for continued market expansion for its construction-planning platform and for its AI capabilities. The round was led by Point72 Ventures and Entrée Capital, with existing investors’ participation. Thanks to our partner Mor Limanovich and his team Shany Zalmanovich and Yara Azzam for […]
Our client NRGene closed its Initial Public Offering on the Tel Aviv Stock Exchange
Our client, the AI genomics company, NRGene, closed its Initial Public Offering on the Tel Aviv Stock Exchange this week and raised NIS 100 million. NRGene develops artificial intelligence solutions that analyze genomics big data to enhance plants’ and animals’ natural breeding processes without genetic engineering. NRGene has already partnered with several leading global companies […]
Recharge Payments relating to International Stock-Based Compensation
Dear Clients, Colleagues and Friends, Yesterday, the Israel Tax Authority (“ITA“) published circular 1/2021 (the “Circular“) addressing the ITA’s views on the tax treatment applicable to recharge payments relating to grants of stock-based compensation (“SBC“) in multinational groups. For the most part, the Circular is consistent with the draft circular published by the ITA less […]
Entrepreneurship 2021 Event – AMIT
Agenda: 19:00 from Executive to Founder Smadar David – Co-founder & CEO, Vanti Analytics Noa Danon – Co-founder & CEO, EverAfter AI Yehuda Kogan – Co-founder & CEO, Stealth Mode startup Moderator: Alon Lederman – Hi-Tech Partner, HERZOG 19:30 Investments Post Covid-19: Part II Yifat Oron – CEO, LeumiTech Yoram Tietz – Managing Partner, […]
More Interest on the Taxation of Carried Interest
Dear Colleagues and Clients, For several years now, an ongoing debate around the taxation of carried interest received by investment fund managers has occupied professionals, lawmakers and other market participants. The major issue, which has been discussed in the United States, Israel and other jurisdictions around the world, is how to characterize the carried interest […]
ITA published a new mandatory reportable tax position for import taxes: value of software imported with goods
Dear Clients and Colleagues, The Israeli Tax Authority (ITA) published lists of mandatory reportable tax positions for the 2020 tax year. In contrast to an income tax related tax position, which must be reported with the yearly tax return, in the case of VAT and import taxes (customs, purchase tax and import VAT), the reporting of […]
We were happy to participate in the 2021 Global Venture Capital Guide
We were happy to participate in the 2021 Global Venture Capital Guide published by the World Law Group. Our partner, Michal Herzfeld, gives readers a walk through the Israeli landscape for VCs, from deal structure, governmental approvals and investor rights and protections to exit mechanisms and their challenges. For the full guide >> click here
We advised Bank Hapoalim regarding financing the Municipal Solid Waste Treatment project
We advised Bank Hapoalim on financing the Municipal Solid Waste Treatment project being developed by Zero Waste Ltd. The new facility is planned to manage 400,000 tons of solid waste, about 10% of all Household waste created in Israel. This was the first municipal solid waste BOT project to reach financial close. Thank you to […]
Our client Enlight signed a deal to refinance five photovoltaic power plants
Proud to lead our client, Enlight Renewable Energy, on a deal to refinance five photovoltaic power plants projects for over 1B NIS. The project secured funding from a group of lenders led by Bank Leumi. Thank you to our partners Adam Eytan, Limor Shecter, Shira Margalit and associate Lidor Alfandri, for their hard work on […]
Partner Hen Tirosh represented Chile Ezra in a complicated Pro Bono case
We are excited to share with you that Chile Ezra, a Hungarian woman who was taken to Israel by human traffickers and was forced to work as a prostitute, will receive permanent residency in Israel. Chile heroically rebuilt her life and has dedicated herself to helping other women escape their horrible circumstances. She has become […]
The Supreme Court rejected an application to suspend a tender for our client Solel Boneh
Happy to update that the Israeli Supreme Court rejected an application for an order to suspend an important tender of the Israel Railways. Our client, Solel Boneh (part of the Shikun U,Binui group), was a bidder in the tender. This tender, for the construction of railway tracks to the southern port, is valued at NIS […]
Our client Unity recently acquired RestAR
We are proud to have represented Unity, the world’s leading platform for creating and operating real-time 3D content for a variety of industries, in its acquisition of RestAR, an Israeli computer vision company that enables fashion brands and online retailers to scan and render physical consumer products in high-quality 3D, using only a mobile device. […]
Elasticsearch is Not Open Source Anymore
As of last week, Elasticsearch is no longer open source. From version 7.11 and onwards, all ELK products (Elastic, Logstash, Kibana) will be registered under the new SSPL license created by Mongo and now adopted by Elastic. Anyone who joins this can ask our Partner Gal Eschet any question about his specific use case of […]
We were happy to contribute to The US-Israel Legal Review 2020
We were happy to contribute to The US-Israel Legal Review 2020, published by Nishlis Legal Marketing. Our partner and head of Technology & eCommerce Regulation practice Ariel Yosefi, and intern Tom Borenstein, wrote the chapter which is focusing on trends in American privacy legislation and their effect on Israeli companies operating there, while addressing the […]
Regulatory Developments with regard to Importation and Operation of Wireless Devices
Dear clients and friends, We wish to update you that the Ministry of Communications (“MoC“) has recently published two new and important regulations files with regard to importation and operation of wireless devices: Wireless Telegraph Regulations (Exemption from Licensing), 5781 – 2020 (“Exemption from Licensing Regulations“) Draft Wireless Telegraph (Modification Certificates) Regulations, 5781 – 2020 […]
The Environment Crisis | Challenges, opportunities & business models
What potential legal challenges and market opportunities can the environmental crisis create? Our partner, Dr. Ruth Dagan, will be discussing these issues in a webinar hosted by Tel Aviv University – Coller School of Management and BSI. Wednesday | 27.1.2021 | 17:30 Register now >> click here
Brexit: Data Protection Checklist
Background On 1 January 2021, the European General Data Protection Regulation (“GDPR”) ceased to apply in the UK, and a UK version of the GDPR – the “UK GDPR” – applies from that date. While the UK GDPR is generally similar in all key aspects to the GDPR, it applies as an independent, domestic law. […]
Bill to regulate the activities of Fintech Companies in Israel
New bill establishes two alternative regulatory regimes for Fintech companies who wishes to operate in Israel Dear Clients and Colleagues, Recently, the government submitted the bill to encourage the development of technology in the financial field in Israel, 5721-2021 (the “Bill“). The submission of the Bill is a major step in the process of […]
The VAT authorities’ postpones the date for submission of the monthly VAT return and the payment of the applicable VAT
Dear clients and friends, In light of the situation of the businesses in Israel and in order to assist the business sector, which faces cash flow difficulties due to, among other things, the limitations recently imposed by the Government on businesses due to the Covid-19 situation, the Israel Tax Authority granted an extension for the […]
Provision of brokerage services by UK firms to clients in Israel post Brexit
The ISA has decided to extend the terms of the General Permit under section 49A of the Securities Law, so that, post Brexit, certain regulated entities in the United Kingdom (UK) will be entitled to apply for a General Permit for the provision of brokerage services to clients in Israel. Dear friends and clients, Pursuant […]
INNOVATION IN 2021: THE VIEW FROM ISRAEL AND JAPAN
Over the past decade the number of Israel/Japan investment deals has increased three-fold. OurCrowd together with the top Israeli law firm Herzog, Fox & Neeman will delve into what is behind this staggering growth and how we can ensure it continues to the benefit of both countries. Leading professionals working in the regions will join […]
The FTC Enforces Against Deceptive Practices in Mobile Advertising
Technology & eCommerce Regulation in the Spotlight The Federal Trade Commission (“FTC“) has recently announced a settlement with Tapjoy, Inc. (“Tapjoy“), after it allegedly violated the FTC Act when it failed to provide in-game rewards that were promised to users for completing advertising offers. Tapjoy operates an advertising platform, through which advertisements are embedded within mobile […]
Consumer Protection Authority Draft Guidelines regarding Opinions, Ratings and Reviews on the Internet
Dear clients and friends, We wish to update you that on January 5, 2021, the Consumer Protection Authority (the “CPA“) published draft guidelines regarding opinions, ratings, and reviews on the internet (the “Draft Guidelines“). The Draft Guidelines were published in light of the extensive use of opinions, rating and reviews (“Reviews“) in online e-commerce websites, […]
Client Update – Tightening of the Third Lockdown
Dear Clients and Colleagues, Due to the continued rise in infection rates, as a result of the spread of Covid-19, the Israeli government has decided to tighten the lockdown imposed less than two weeks ago, and harshen the restrictions imposed by virtue thereof, as detailed in our previous client update. Accordingly, a Temporary Order was […]
Finding Funding During Covid-19
Tuesday, 12.01.21 | 11:00-12:00 | ZOOM WEBINAR Join Herzog and Sagent Management Israel for an intriguing panel discussion webinar, where we will be covering the considerations, challenges and the difficulties startups face specifically during Covid-19 and this altered funding environment. Come hear from experienced entrepreneurs on how they face and adapt to the new normal, […]
Herzog Fox & Neeman is pleased to announce the appointment of 10 new partners
International Capital Markets For Israeli Companies 2020 Overview, Trends & Analysis
2020 turned out to be a record year in capital markets. Israeli companies participated in the market frenzy and completed numerous material transactions including IPOs, convertible bond offerings, and SPAC mergers. Barclays Israel, Davis Polk & Wardwell and Herzog Fox & Neeman have joined forces to review 2020 capital markets transactions of Israeli companies and […]
Partner Gilad Majerowicz talks about potential opportunities for Israeli companies in Indonesia
The wave of normalization between Israel and majority-Muslim countries may arrive at the shores of Indonesia in the foreseen future. Indonesia, the 4th-most populous country in the world, is a huge new market for Israeli companies to operate in once a formal relationship is established. Our partner, and co-Head of Asia Practice, Gilad Majerowicz, recently […]
