Hefty financial incentives encouraging Israelis to return from abroad

Israel has announced a new “counter migration” campaign aimed at securing the return of 75,000 Israeli migrants and residents abroad.

According to Israeli newspaper, Yediot Ahronot, the campaign will grant those deciding to return from abroad and re-establish themselves in Israel ‘new immigrant’ status along with the substantial associated tax benefits and other financial incentives.

The plan, which was initiated by Prime Minister Benyamin Netanyahu in collaboration with the Ministry of Immigrant Absorption is scheduled to be approved by the government next Sunday when it will be decided whether to grant ‘new immigrant’ status to all Israelis deciding to return to Israel and re-establish themselves there after having spent at least 6 years abroad.

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With regard to the financial incentives, Yediot Ahronot published a table comparing current amenities with those being promised whereby all those who decide to return to Israel from abroad will be exempt from income tax, including those outside the country for 20 years as opposed to the current 10 years and in addition to being given preferential points in relation to regular income tax. With regards to work, the government will give “returnees” substantial assistance with re-absorption into the labour market and will provide dedicated sessions for their professional development as well as granting their children 5 hours of extra educational support weekly instead of the current hour being offered.

Source: Palestinians 48