New Oleh Center · Sparks to Life Tzfat
Banking and Finances
Open a bank account, collect your Sal Klita, understand your tax benefits, and plan your finances as a new Oleh.
Opening a bank account
Opening an Israeli bank account is one of the first things you must do after Aliyah. Your Sal Klita payments cannot be received without one. Do this within the first few days.
Important: You must make an initial deposit to activate the account. Misrad Haklita cannot transfer Sal Klita to an inactive account. Bring cash or a foreign check.
What to bring to the bank
- ›Teudat Zehut or Teudat Oleh
- ›Note of Future Bank Account (received at airport)
- ›Cash or check to activate the account
- ›Foreign tax ID number (US citizens: Social Security Number)
- ›US citizens must complete a W-9 form
- ›Passport
Sal Klita — Your absorption basket
Sal Klita is the Israeli government financial support package for new Olim. It is paid in 6 monthly installments directly to your Israeli bank account. Amount depends on age, family status, and Aliyah classification.
After Sal Klita ends, rental assistance (Misrad Hashikun) begins automatically from month 7 (Olim who made Aliyah after March 2024) or month 8. Make sure your bank details are registered with Misrad Haklita.
Tax benefits for new Olim
10-year income tax exemption
New Olim receive a 10-year exemption on passive and active income earned abroad. Consult an accountant — US citizens have additional obligations.
Purchase tax discount
Reduced purchase tax when buying property, usable up to 7 years after Aliyah. As of August 2024, applies only to a single primary residence.
Import tax exemption
Bring household goods, appliances, and a vehicle tax-free within your first few years. Restrictions apply.
US and Canadian citizens: You have dual tax obligations. Israel's 10-year exemption does not eliminate your US filing requirement. Consult a CPA who specializes in US-Israel taxation. This is not optional.
Arnona discount
New Olim receive a 50-90% discount on Arnona (municipal property tax) for up to 100 sqm during one 12-month period in the first two years. Apply at the local Iriya — it is not automatic. Apply as soon as you have a lease.
Banking in Tzfat
Local to Tzfat
Bank Hapoalim: 72 Jerusalem St., Tzfat | 04-699-4835 | Authorized for Zakaut mortgages
Bank Leumi: Tzfat branch — confirm address via *5522
Bank Mizrahi Tefahot: Tzfat branch — confirm via 076-804-8860
Misrad Haklita: 1 HaGdud HaShlishi St., Shaarei Ha'ir Mall, 2nd floor | 073-397-3702
Arnona Office (Iriya): Jerusalem St. 50, Tzfat | Phone: 106
English-speaking accountant: Contact Sparks to Life for trusted local referrals
Sparks to Life can help
If you need help understanding your benefits or support during financial hardship, reach out.
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