Wealthy Russians said seeking shelter from Western sanctions in Israeli property

Wealthy Russians are looking to invest in Israeli property as they seek shelter from Western sanctions over Russia’s invasion of Ukraine, The Times of London reports.

According to the British newspaper, which cites estate agents and tax lawyers, there has been a marked uptick in inquiries from Russian buyers about beachfront properties and plots in Tel Aviv.

The report attributes the interest in Israeli property to the country’s 10-year tax exemption and tax-reporting exemption for new immigrants, and what it says is an agreement between Israel and Russia against carrying out assassinations in each other’s territory.

According to the Times, the areas with the most interest are the upscale suburb of Herzliya Pituach and Tel Aviv’s Neve Tzedek neighborhood, where the report notes sanctioned Russian-Israeli billionaire Roman Abramovich owns property.

Never miss breaking news on Israel
Get notifications to stay updated
You're subscribed
Register for free
and continue reading
Registering also lets you comment on articles and helps us improve your experience. It takes just a few seconds.
Already registered? Enter your email to sign in.
Please use the following structure:
Or Continue with
By registering you agree to the terms and conditions. Once registered, you’ll receive our Daily Edition email for free.
Register to continue
Or Continue with
Log in to continue
Sign in or Register
Or Continue with
check your email
Check your email
We sent an email to you at .
It has a link that will sign you in.