The government has approved Sunday a proposal by Interior Minister Gideon Sa'ar to set unique entry visas to American investors who seek to visit Israel frequently for business. The arrangement is a part of an experimental program in which Israelis seeking to invest in the US and wish to stay there temporarily in order to develop and manage their business, will be given similar special conditions. The American embassy in Israel conditioned the approval of the plan by requiring the granting of benefits to American investors in Israel.
According to the plan, Israeli investors who obtain approval from American authorities will be offered a fast track entry into the US and will receive E2 visas that allow stays of up to two years in the United States.
The Interior Ministry said that the plan will be implemented within the next few months, after several legislative amendments required to complete it are made.
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American investors' entry visa to Israel will be accompanied by facilitation measures for the investors, their families, and professionals required to join them.
Entry passes to the United States are for Israeli businessmen who travel to the US frequently, and they will be required to undergo review in both the US and in Israel.
The plan was formulated in an inter-ministerial committee led by the Administration of Population and Immigration, which will manage the unique entry route – the Foreign Ministry and the Finance Ministry also took part in the plan's development. Following the approval of the plan, Sa'ar said that the "US is a major economic partner for Israel. It is the main source of foreign investment in Israel and is at the same time one of the major destinations for investments by Israelis.
"Investor visas constitute another stage in the United States-Israel Free Trade Agreement and will promote the economic cooperation of the two countries", Sa'ar added.