Opening an Israeli bank account as a foreign buyer
Updated November 2026 · agent+
Purchase payments, purchase tax and a mortgage all run through the Israeli banking system. Opening a non-resident account is routine but slower than at home, mainly because of anti-money-laundering checks. Start early, ideally before you choose an apartment.
Do you really need one?
For a cash purchase, you can in principle pay everything through your lawyer’s trust account, which receives your foreign transfers and pays the seller, the tax authorities and the fees. Many buyers do exactly that for the purchase itself.
You will still want an account of your own for a mortgage, for building fees and utilities after delivery, and for receiving rent if you let the apartment.
Documents the bank asks for
A valid passport, a second ID, proof of address abroad, and a declaration of tax residency. US citizens sign a W-9 under FATCA; everyone else signs a CRS self-certification. Expect to document the source of the funds you will deposit: savings statements, a sale contract, an inheritance document or company accounts.
Several banks open non-resident accounts by video call; others require one visit to a branch. Branches in central Tel Aviv, Jerusalem and Netanya are used to foreign clients and work in English and French.
Transferring the money
International transfers into Israel are checked against the source-of-funds documents you gave; a large transfer without supporting paperwork can be held for days. Send the documents to the bank before the money.
Conversion to shekels happens in Israel at the bank’s rate, or through a licensed currency broker, which is often cheaper for large amounts. Ask for the rate before the transfer, not after.
Costs and maintenance
Non-resident accounts carry monthly fees and sometimes a minimum balance. Once the purchase is done, keep the account alive with the standing orders for building fees and utilities, and give your lawyer or property manager limited online access if you prefer not to follow it yourself.
Frequently asked questions
›Can I open the account before I have an apartment?
Yes, and it is better to do so. Banks do not need a contract to open a non-resident account.
›Which Israeli banks accept non-residents?
All the large banks do, with differences in paperwork and remote onboarding. We will point you to branches that handle foreign clients routinely.
›Is my foreign income taxed in Israel if I open an account?
No. Opening an account does not make you an Israeli tax resident. Only Israeli-source income, such as rent from the apartment, is taxed in Israel.
General information, current as of the date shown; not legal or tax advice. Brackets and rates change: check your own situation with an Israeli lawyer or tax adviser before you sign.