I have been talking to potential and current clients who are in the process of moving to Israel, and most are overwhelmed by the number of things that need to be done. Here is a partial and non-exclusive relocation checklist.
Relocation checklist for moving to Israel
There are several items to address before moving to Israel. Here’s a checklist.
- Getting US financial affairs in order.
- Ensuring that immigration documentation is properly arranged.
- Selling the house.
- Deciding what to bring in container vessel.
- Setting up Israel bank account and deciding how to get money and regular income. If you are coming from the US, for example, it may be Social Security, a pension or alimony from an ex-spouse.
- Determining where to live – buy or rent
- Picking a healthcare provider.
- Selecting schools for the kids.
- Making sure that wills and trusts are compatible in both countries.
- Getting a car.
Is it difficult to move to Israel?
You may be moving to Israel for the first time, making Aliyah, or moving back after an extended stay in the United States or elsewhere. Whatever the situation, Israel can be a difficult place to move to.
Here are some suggestions that may help the move to Israel be less overwhelming.
- Figure out which tasks are imminent and which can be taken care of later. Not everything is an immediate priority.
- Wherever possible, outsource to professionals – be it a recommended moving company, or a tax advisor, a handy-man, or the Israeli ministry of absorption.
What we don’t recommend is what some “do it your selfers” have done and consult with Facebook pages such as “Americans moving to Haifa” (fictitious name). These often attract people who are thinking about maybe moving to Israel in a few years. They will give you their generous unsolicited advice, which may be incorrect and which will only confuse you more.
Planning your move to Israel
Be intentional about it.
What I do when I need to plan and prioritize is go somewhere where I have no distractions – like a coffee shop near the beach or with a nice view – and take a clean piece of paper (or as I do a piece of cardboard from a dry-cleaned shirt pack) and map things out.
If you are moving to Israel and don’t know where to start when it comes to the financial side of things, please contact us.
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Norman H. Chait, CFA, Managing Principal, Nardis Advisors LLC,
July 9th, 2021
Disclaimer: Nardis Advisors LLC (“Nardis”) is a Registered Investment Advisory Firm regulated by the U.S Securities and Exchange Commission in accordance and compliance with applicable securities laws and regulations. Nardis does not render or offer to render personalized investment advice through this medium. The information provided herein is for informational purposes only and does not constitute financial, investment or legal advice. Investment advice can only be rendered after delivery of the Firm’s disclosure statement (Form ADV Part 2) and execution of an investment advisory agreement between the client and Nardis.
