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:

1. The total value of their liquid assets exceeds 8 million New Israeli Shekels (NIS) (as of 2025: NIS 9,411,809).
2. Their income for each of the last two years exceeds 1.2 NIS (as of 2025: NIS 1,411,772), or the income of their family unit exceeds 1.8 million NIS (as of 2025: NIS 2,117,657).
3. The total value of their liquid assets exceeds 5 million NIS (as of 2025: NIS 5,882,380), and their income for each of the last two years exceeds 600,000 NIS (as of 2025: NIS 705,885), or the income of their family unit exceeds 900,000 NIS (as of 2025: NIS 1,058,827).

Please note:

1. There are no changes to other categories.
2. There are no changes to the verification process outlined in the First Schedule of the Securities Law, as interpreted by the Israel Securities Authority on several occasions in the past.