GAL LAW OFFICES ITALY DESK
גל עורכי דין דסק איטליה
Real Estate
Many Israelis or their heirs who live abroad wish to sell their properties in Israel or buy one. Attorney Tomer Gal, head of the department with an office in Rome notes: "Such a transaction is a complex process that requires coordination with few parties. Representation of a qualified attorney it is mandatory in order to do it all remotely."
In Italy as well, due to the low real estate prices and booming tourism, many Israelis wish to buy a property for residence in Italy or a property for vacation in Italy. "Here as well, such a transaction requires coordination with other parties, when the person connecting them must have knowledge of both languages and also knowledge of Israeli - Italian law with an office in Italy", adds Attorney Gal.
Buying or selling property in Israel
Dear clients and visitors,
We regularly deal with the representation and handling of the affairs of non-residents, including real estate. Due to our experience, we are fully aware of the difficulty in knowing the legislation and procedure regarding the sale or purchase of property in Israel by non-residents.
Precisely for this purpose, we are here to provide you an international - professional services multilingual, without the need for your presence in Israel. We will take care of preparing all the necessary paperwork for you to successfully complete the long-awaited transaction from a distance, and we will also take care of representing your interests at the contract stage and receiving your funds into a unique Israeli bank account (Escrow account).
We have highlighted some important points for you:
Physical presence at the location of the transaction
A foreign resident or a party to the agreement does not have to come to Israel for the purpose of carrying out the transaction, and all the procedures necessary to carry out the transaction can be carried out remotely by a lawyer who will receive the treatment from the beginning of the process that will be opened through a notarial power of attorney to perform operations on the real estate.
Our service includes drawing up a notarial power of attorney that can be verified in Italy and, if necessary, also a translation from Hebrew to Italian or English and a verified affidavit.
Contract drafting and review
According to Israeli legislation, a real estate transaction requires a written contract. Thanks to our hybrid - international services, you will not have to come to Israel in order to sign the contract. In addition, we will make sure that the contract reflects your wishes and interests. A legal professional will read the contract in Hebrew thoroughly to understand the terms and conditions and highlight risks or relevant information.
Process of selling or buying property
The process of selling or buying a property in Israel is conducted entirely, naturally, in Hebrew only. Our team speaks your languages and therefore we will assist you in the entire process starting from the stage of selling or buying the property to to the legal registration of your ownership of the property in the Registers of the State of Israel.
Receiving or transferring funds
If you have a bank account in Israel, this will greatly facilitate the process of purchasing or buying the property. If not, we will use an escrow account in order to take care of transferring the funds safely and efficiently.
Taxation aspects
Generally, property buyers in Israel will pay a purchase tax that is updated from time to time by the Israeli government and we always recommend checking with a local accountant about reporting the property in the country of residence. Sellers of property in Israel, even if they are foreign residents, will pay appreciation tax subject to the exemptions provided by law. To benefit from the exemption, a detailed application must be submitted to the Israel Taxation Authority, which in some cases will require arrival in Israel.