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GAL LAW OFFICES ITALY DESK

גל עורכי דין דסק איטליה

Real Estate

Buying or selling property in Israel

Attorney Tomer Gal recognized by the Italian Embassy in Israel with an office in Rome, states: "Foreign residents wish to sell their property in Israel remotely or buying one for future Aliyah or vacation purposes. On the other hand, many Israelis are looking to purchase permanent property in Italy for vacation due to the low real estate prices and amazing views." Such a transaction is a complex process that requires coordination with many parties, but with the representation of a knowledgeable attorney, it is entirely feasible to carry out remotely.

 

Regarding purchase transactions, Attorney Gal explains: "We step in at the stage where the client has already identified the area they wish to buy in and has established a budget. Our role, with the help of a professional notary, is to weave together the two cultures, languages, and the Italian and Israeli legal systems."

Our office specializes in representing foreign residents in matters of personal status and inheritance, as well as in real estate transactions in Israel and Italy. We understand the unique challenges faced by clients who are not residents of the country, especially when it comes to understanding the complex legal systems and procedures involved in buying or selling properties in Israel. The head of Italy Desk, Attorney Tomer Gal, notes: "Clients tell that our international and multilingual service allowed them to feel comfortable carrying out all actions remotely. Our team prepared all the necessary documents in advance for the successful completion of the transaction, while safeguarding the client's interests at every stage of the process."

 

We are committed to representing you during the contract phase and the transfer of rights, ensuring that your funds are transferred safely through a unique Israeli bank account. To streamline the process, we have compiled important clarifications 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.Our service includes drawing up a special power of attorney that can be verified in Italy and, if necessary, also a translated from Hebrew to Italian or English.

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 

In Israel, the entire process of selling or buying a property is naturally conducted in Hebrew only. Our team speaks your languages, so we can assist you throughout the process, from the stage of selling or buying the property to carrying out the entire process up to registering the property. In Italy, the property is registered with a notary after it has been established that the parties speak the language of the contract and understand the act of purchase. In cases where both parties do not speak the language of the notary or wish to carry out the transaction remotely, we can appear on your behalf and carry out the registration operations thanks to our professional team in Italy.

Receiving or transferring funds

In Israel, if you have a bank account, this will greatly facilitate the process of purchasing or acquiring the property. If not, through a unique account we will ensure that the funds are transferred safely and efficiently to your place of residence abroad. In Italy, it is customary for the transfer and receipt of funds to be done through Italian bank accounts, but there are Israelis who do not have such an account. In such cases, we can easily arrange for the transfer or receipt of your funds.

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.

We are here to professionally secure your interests in transactions in Israel and Italy. Contact us today and we will be happy to be at your service!

GAL LAW OFFICE

© Tomer Gal | 2023 | כל הזכויות שמורות לעו"ד תומר גל

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