The ISO code of Israel is IL according to the ISO 3166 standard. The local name of the country is Yisrael. Israel capital city is Jerusalem (declared, de facto). People in Israel speak the Arabic, and Hebrew languages. On 14 May 1948, Israel emerged as a sovereign political entity. In the year 05/14/1948, Israel emerged as a sovereign political entity. The largest cities in Israel are Jerusalem, Tel Aviv.
Israel is located in the UTC +02:00 time zone, which is also called Israel Standard Time or IST. The internet country code top-level domain (ccTLD) for Israel is .il. The International dialing code for Israel is 972. People in Israel drive on the right side of the road. Total land area of Israel is 20,770 km² (approx. 8,019 mi²). Israel is not a landlocked country. It means that is is bordered by at least one major body of water.
Israel is located in Asia. Israel is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life.
Currently Israel faces various issues, including limited arable land and natural fresh water resources, desertification, air pollution from industrial and vehicle emissions, groundwater pollution from industrial and domestic waste, chemical fertilizers, and pesticides.
Doing business in Israel
We offer various corporate services in Israel jurisdiction. These services can serve both, people coming from Israel and foreigners. If you plan on doing business in Israel you might be interested in contacting us.
To find out about starting your business in Israel click on company formation in Israel.
To find out how to open a bank account in Israel and moreover what type of account Confidus Solutions suggests to create, please click on bank account in Israel.
Choose preferred service below or continue reading to find out more about Israel.
Demographics of Israel
The total population of Israel is 8,452,841 people. In Israel, the population density is 382.16 people per square kilometer (994 per square mile). Because of this statistic, this country is considered to be densely populated. The ethnic diversity is diverse according to a fractionalization scale which for Israel is 0.3436. Israel has approximately 2011727 foreign immigrants. The median age is approximately 29.9 years. In Israel, 73.37 in every 100 people use internet. Israel has a Human Development Index (HDI) of 0.888.
The majority religion of Israel is Judaism, Israel is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Click on a link to read more on demographics of Israel.
Culture of Israel
People in Israel speak the Arabic, and Hebrew languages. According to data on inbound tourists in Israel, 2,962,000 tourists arrive in the country each year. The first McDonalds in Israel was opened on 14 October 1993, and it was located in Ayalon Mall, Ramat Gan. One of the most popular national dishes of Israel is hummus. To read more click on culture of Israel.
Geography of Israel
Israel is considered to be a large nation because of its total area. Its total land area is 20,770 km² (approx. 8,019 mi²). Israel is located in Asia. Its capital city is Jerusalem (declared, de facto). Israel has 5 neighbouring countries. Its neighbours include Egypt, Palestinian territories, Jordan, Lebanon, and Syria. Total length of land borders of Israel is 1068 kilometers (~412 miles).
The highest point of Israel is Mount Meron, with its official height being 1208 m (3,963 ft). Including land mass and EEZ, the total area of Israel is approximately 47,122 km² (~18,194 mi²). The most notable natural resources found in Israel are timber, potash, copper ore, natural gas, phosphate rock, magnesium bromide, clays, sand.To read more click on geography of Israel.
Economy of Israel
The currency of the country is Israeli new shekel. The symbol used for this currency is ₪, and it is abbreviated as ILS. 4.3% of population in the country are unemployed. The total number of unemployed people in Israel is 363,472. Each year, Israel exports around $60.67 billion and imports roughly $67 billion. The Gini Index of the country is 37.6. Israel has a Human Development Index (HDI) of 0.888.The Global Peace Index (GPI) for Israel is 2.781. Israel has a government debt of 13% of the country's Gross Domestic Product (GDP), as assessed in 2012. Israel is considered to be a developed nation. The developmental stage of a nation is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality, and quality of life. Major industries in the country are high-technology products (including aviation, communications, computer-aided design and manufactures, medical electronics, fiber optics), wood and paper products, potash and phosphates, food, beverages, and tobacco, caustic soda, cement, construction, metal products, chemical products, plastics, cut diamonds, textiles, footwear.
The total Gross Domestic Product (GDP) assessed as Purchasing Power Parity (PPP) in Israel is $272,112 billion. Each year, consumers spend around $164,040 million. The ratio of consumer spending to GDP in Israel is 0%, and the ratio of consumer spending to the world consumer market is 0.38. The corporate tax in Israel is set at 26.5%. Personal income tax ranges from 11.5% to 50%, depending on your specific situation and income level. VAT in Israel is 17%. To read more click on economy of Israel.
Infrastructure of Israel
Infrastructure quality in Israel is rated to be at 3.11. It indicates a satisfactory quality - roads, railroad, ports and other facilities are able to handle significant traffic at all times and are also suited to various types of transport vehicles and vessels.
In Israel, 100% of the population has access to electricity. There are 2,483,000 internet hosts in Israel. Israel has 47 airports nationwide.
The logistics performance index of Israel is 3.26. It indicates a satisfactory performance - in general, traffic is handeled well, some flaws in certain areas are possible, but overall the logistics system performs reliably and is ready to handle predictable amounts of traffic.
Tracking possibilities for shipments are rated at 3.2. It indicates a satisfactory performance - the tracking systems provide all the basic information as well as additional data about shipments; most of the times it also has a weel established cooperation with foreign and international tracking systems, as well as usually provides information in multiple languages.
The number of road motor vehicles per 1000 inhabitants in Israel is 50. To read more click on infrastructure of Israel.
Politics of Israel
Israel, is a unitary parliamentary republic. With regard to political and civil freedoms, Israel is 1. Citizens in Israel experience total freedom. The majority of countries in which citizens enjoy expansive civil liberties and political freedoms are representative democracies, in which officials are directly elected by citizens to advocate for their needs and desires. Free countries are often bolstered by healthy economies and high-functioning governments. The head of the government is Reuven Rivlin.
According to the World Bank Group, the government effectiveness index of Israel is 1.16. This indicates that the government of Israel is effective. Citizens enjoy well-organized public and civil services, and government efficiency is high. While some services may be lacking in certain areas, the overall environment fostered by government legislation is favorable.In Israel, the legislative power is vested in a Knesset. The Global Peace Index (GPI) for Israel is 2.781. The strength of legal rights index for Israel is 6. Overall, it is considered to be rather adequate - bankruptcy and collateral laws are able to protect the rights of borrowers and lenders at least decently; credit information is msotly sufficient and generally available. Israel is a member of the United Nations (UN). On 11 May 1949, it joined the UN as a full member state. Israel is a member of the World Bank. To read more click on politics of Israel.
Environment of Israel
Israel emits 9 metric tons per capita of CO2. 1600 km² of Israel's territory is covered in forests. and forest land comprises 8% of all the land in the country. The number of road motor vehicles per 1000 inhabitants in Israel is 50. To read more click on environment of Israel.
Company formation in Israel
The development of telecommunications and economic globalization has made it possible for interested investors to form companies around the world. With proper research, financial investments, and legal backing, business ventures can safely be established in Israel.
When establishing a company in Israel, an interested investor must do due diligence with regard to legal processes, international regulations, and sufficient investment for success. It is critical to understand cultural, social, and political factors of Israel that will affect the establishment and growth of one's business. Contact us or click on company formation in Israel to read additional information when setting up a business.
Bank account opening in Israel
With the right paperwork and initial outlay, it is possible for a foreign citizen to open a bank account in Israel. This opportunity for international accounts and investments offers several advantages based on economic regulations and tax structures. Interest rates and fees vary depending on your interests.
When considering opening a bank account in Israel, one must enlist the help of international experts to guide them through the process. To find out more about our banking services click on bank account in Israel or contact us.