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August 24, 2016
New Financial Reforms
During July, the Knesset passed the Control of Financial Services (Regulated Financial Services) Law. The Law is a harbinger of efforts to regulate the provision of financial services that had not been supervised up until now, apart from certain aspects pertaining to money laundering and the Regulation of Nonbank Loans Law. The Law also unifies the handling of all matters relating to the regulation of these services under one roof.
August 23, 2016
Officers’ Remuneration – Are New York and London Following TASE’s Lead?
Adv. Micky Barnea, our managing partners, was interviewed by Globes Dun's 100 on the emerging trend in the United States and England to adopt stricter corporate governance rules for director remuneration.
August 23, 2016
Reverse Vesting and Holdback – Good News for Entrepreneurs?
On July the Israel Tax Authority presented its position that the sale of equity by a founder should be treated as a capital gain and not income, irrespective of whether such shares had been subject to a Reverse Vesting mechanism and/or Holdback. A double edged sword for entrepreneurs.
August 22, 2016
The High-Tech Sector in Israel in the Year Ahead
Israels ‘startup boom’ has grown unfettered for decades. Its emergence as a nation of opportunity for business creation and innovation came not by accident, but through careful planning, tendency to think ‘outside the box’ and constant strive towards execution. All of which have been accomplished due to ability of Israel to support and grow qualified and innovative individuals. After years of steady growth, though, the country now faces some challenges to its positioning in the technology sector. Shortages in their high-tech labor pool and a need for companies to grow more within the country are forcing adjustments. How Israel navigates these concerns will have a significant impact on the year ahead for high-tech companies.
August 10, 2016
Investors Search For Options Before Apartment Tax Comes Into Force
Adv. Liat Keisary was interviewed by Bizportal following Finance Minister Moshe Kahlon’s announcement of the government’s intention to impose an annual tax on owners of three or more apartments. Liat discussed the advantages and disadvantages of holding these properties through a company.
August 9, 2016
Israel's Leadership in the Internet of Things
The Internet of Things (IoT) has emerged as a popular technology buzzword in the last decade. As with many such phrases, it has garnered widespread usage with little understanding of what it actually signifies. Far from meaningless terminology, though, IoT already pervades the consumer marketplace, and growth opportunities abound. Israels sophisticated tech sector provides fertile ground for continued expansion in IoT investment and development.
August 4, 2016
Barnea Represents Stride Gaming PLC
Adv. Karin Kashi recently represented Stride Gaming PLC, an online Bingo operator traded on AIM, London, in a major transaction. The Stride group acquired the assets and shares of Tarco Limited and Netboost Media Limited for a consideration of up to GBP 40.2 million. GBP 22 million of the amount will be paid in accordance with the 2017 EBITDA of the acquired businesses.
August 3, 2016
Moshe Kahlon Proposes New Apartment Tax
Finance Minister Moshe Kahlon is proposing an annual tax of 1% of property value on owners of three or more apartments, effective January 2017. Adv. Liat Keisary told Globes that owners are likely to find lawful tax structures to reduce their liability, while those unable to do so may pass the cost on to tenants.
August 1, 2016
Cellect Biotechnology Completes NASDAQ IPO
In July 2016, Cellect Biotechnology announced that it had completed its NASDAQ IPO, raising USD 8.4 million. Cellect Biotechnology will be traded on NASDAQ in parallel with its listing on the Tel Aviv Stock Exchange. Barnea represented a group of US underwriters, led by H.C. Wainwright, LLC, in the process of submitting Cellect Biotechnology's prospectus for the listing. Cellect Biotechnology develops innovative technologies in the stem cells sphere.
July 31, 2016
Agtech: Why Israel Makes Sense
If you think about fertile land for agricultural development, Israel probably doesnt immediately come to mind. But perhaps it should. Despite a desert climate and the relative youth of the country, Israels technological development has created a boom in agricultural innovation, with technology that helps farmers and companies develop healthier, higher-quality foods. With the challenges facing the worlds farming and crops markets, this tiny country provides a wealth of opportunity moving into the future of agriculture.
July 28, 2016
Barnea Represents Maurice Haliwa
Adv. Zohar Lande and Adv. Yaacov Gershoni of our Litigation Department represent Maurice Haliwa, a shareholder in Manor A.D. Construction Investments Ltd., in an ILS 18 million lawsuit against Jacky Ben-Zaken and Avraam Nanikashvili.
July 27, 2016
Reverse Vesting and Holdback – Good News for Entrepreneurs?
Earlier this month, the Israel Tax Authority stated that proceeds from a founder’s sale of shares should be treated as capital gains rather than ordinary income, regardless of whether the shares were subject to reverse vesting or a holdback arrangement. For entrepreneurs, this position is a double-edged sword.
July 26, 2016
Jerusalem Real Estate Scams and How to Avoid Them
Adv. Liat Keisary was interviewed by Ynet about a real estate fraud case in Jerusalem involving the sale of apartments using forged documents. Liat emphasized the importance of watching for warning signs and following a structured process when purchasing property.
July 24, 2016
CySEC Steps Up Enforcement of Israeli Forex Companies
The Cyprus Securities and Exchange Commission (CySEC) has stepped up enforcement against Israeli companies operating in the forex and binary options sectors and is pursuing reforms that could restrict their operations. The head of our Internet Department told Calcalist that Israeli companies operating in Cyprus are exploring alternative locations, including Malta and other EU member states in Eastern Europe.
July 21, 2016
Non Israelis - 10 Essential Tips When Purchasing Residential Property in Israel
Purchasing a residential property is generally one of the most profound, expensive and important decisions you make in your life. Even more so when purchasing a residential property in Israel. Following is a check list containing 10 most important tips on how to do it the right way.
July 21, 2016
Barnea Selected to Collaborate with IDC Legal Clinic for Startups
Barnea was selected to collaborate with the IDC Legal Clinic for Startups to support law students and entrepreneurs from underrepresented sectors during the 2016/2017 academic year.
July 17, 2016
Things You Need to Know About Fintech
Financial technology (“FinTech”) is a broad term that encompasses many kinds of technology across many industries. It includes hardware and software, apps and analytics, and solutions for companies of all sizes. Because FinTech plays a role in virtually every kind of company, it is worth taking the time to understand its position in the world economy.
July 13, 2016
Made in Lod Bootcamp
Barnea will participate today in the Made in Lod bootcamp, part of an accelerator for social enterprises, technology ventures and small businesses run by PresenTense and the Lod Young Adult Center. Adv. Yuval Lazi will discuss common mistakes made by early-stage startups.
July 12, 2016
The Ministry of Construction and Housing allows foreign construction companies to operate in Israel for the first time
In March 2016 the government adopted the housing cabinet’s recommendations regarding criteria for allowing foreign construction companies to begin operating in Israel. This move is one of the government’s strategies for increasing the volume of residential construction in Israel.
July 7, 2016
Barnea Represents Pharma Cosmetics Laboratories Ltd.
Our Litigation Department represented Pharma Cosmetics Laboratories Ltd., formerly HL Cosmetics Laboratories, in an intellectual property claim against a beautician and her partner. The Rishon Lezion Magistrate’s Court recently awarded Pharma compensation and rejected the defendants’ argument that the Copyright Act did not apply to the images and text they had copied from Pharma’s website.