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The importance of the local partner

Many Israeli entities are proud of the fact that they are the entrepreneurial companies in the project in Cyprus without a local partner, and even present it as an advantage, when in fact in most cases it is not an advantage at all. In cases where Israeli companies are the entrepreneurs, they often struggle to the point of failing to manage projects outside of Israel.

Therefore, an investor who wants security in real estate deals abroad, it is preferable and advisable for him to work with a local partner in the target country.

One of the keys to success in real estate projects outside of Israel is to collaborate with a local partner or entrepreneur who has proven experience in that market, a strong financial backing, good industry connections, and professional understanding of the associated costs of local and Israeli taxation (especially when there is no tax treaty). This is precisely the reason why large entities carefully select only the partners who can contribute to increasing the profit potential in each deal, while providing full security to investors.

Experienced in the market - TRACK RECORD

The first thing we will look for in a local partner or entrepreneur abroad is their accumulated experience in the country and city where the project is located.

Strong financial backing - FINANCIAL ABILITIES

Another parameter in the evaluation of a local partner is their financial capabilities and financial connections. The higher the cost of investment in real estate transactions, the more institutional bodies will prefer to cooperate with a partner with high liquidity, good credit rating and extensive financial connections with the banking system. This preference is intended to reduce risks and increase the chances of success and profitability in each project.

Professional assistance in foreign deals

In foreign deals, it is of utmost importance to be accompanied by experienced and highly reliable professionals, in order to obtain full transparency and accurate and reliable information about the deal data and its execution.

Carrying out a deal in Cyprus or any other country is not the same as carrying out a deal in Israel. Beyond the physical distance between the countries, the different legal system, tax aspects and the way the deal is executed are not the same as what is known and familiar in Israel.

Therefore, it is recommended to use the services of professionals with extensive experience in the local market, each specializing in his field.

In Ofek Zamarot, we carefully select the local partners we work with and use a network of local professionals specializing in the legal and tax aspects.

We hope we have managed to explain the importance of the local partner in deals outside of Israel.

For any further questions, please feel free to contact us.

Ofek Zamarot from Zamarot Real Estate Group.

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