Can I open a joint Israeli bank account with a relative who lives in another country?

Siblings splitting a rent from an inherited Israeli apartment, or a parent in one country helping a child in another buy property, often want a single Israeli account both can operate. The account is possible. What catches people out is that the bank does not treat it as one customer with a second name on the card. It treats it as two customers, each of whom must be cleared on their own, from wherever they live.

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Detailed Explanation

Israeli banks open joint (meshutaf) accounts for non-residents, and there is no rule that co-holders must share a country. What the bank cannot waive is the identification of every holder. Under the Bank of Israel's Proper Conduct of Banking Business Directive 411 and the Prohibition on Money Laundering Law 2000, each account holder is a separate "know your customer" file. That means each of you provides a certified copy of a passport, proof of residential address, an explanation and evidence of the source of the funds, and a declaration of tax residency. A gap in either person's file, not just the main applicant's, holds up the whole account.

Distance is the practical obstacle, and it doubles when the holders sit in different jurisdictions. A non-resident who cannot walk into an Israeli branch usually has their signature and documents certified before an Israeli consul abroad, or before a local notary whose certificate is then apostilled, and increasingly banks accept a supervised video identification. If one co-holder is in Toronto and the other in London, each runs that certification separately in their own city, on the bank's forms, before the account is activated. Building the two files in parallel rather than one after the other is what keeps the timeline reasonable. The core steps for a single non-resident applicant are set out in our guide to opening an Israeli bank account as a non-resident, and a second holder repeats them.

Reporting is the part couples and relatives underestimate. Israel is a party to the Common Reporting Standard, so the bank identifies the tax residence of every holder and reports the account to each of those countries' tax authorities annually. A joint account held by a Canadian resident and a UK resident is reported to both the Canada Revenue Agency and HM Revenue and Customs, typically showing the full account balance against each holder, not a split. Neither of you should assume the account is invisible at home; it is visible in two places, and each holder needs to make sure it is declared correctly on their own return.

There is one more feature worth flagging before you sign. Israeli joint accounts are often opened with a survivorship clause, but Israeli law does not always give the survivor automatic ownership of the whole balance on the death of a co-holder; the deceased's share can fall into their estate and require a succession order. If the point of the joint account is to pass funds cleanly to the survivor, that intention should be documented properly rather than assumed from the account type.

In Practice: Under Bank of Israel Directive 411 and the Prohibition on Money Laundering Law 2000, each holder of a joint non-resident account is a separate KYC file requiring certified identity, proof of address, and source-of-funds evidence, and the account is reported under the Common Reporting Standard to every holder's country of tax residence. Consular or notarised-and-apostilled certification for a holder abroad commonly costs the equivalent of NIS 300 to 800 per person, and a fully documented joint account is usually activated within 2 to 6 weeks once both files are complete. Monthly account management fees typically run about NIS 20 to 40.

Key Considerations

• Two non-residents in different countries can hold an Israeli account jointly; there is no same-country requirement.
• Each holder is a separate Directive 411 KYC file, so both must supply certified ID, address, and source of funds.
• A holder abroad certifies documents at an Israeli consulate or via a notary plus apostille, and increasingly by video.
• The account is reported under CRS to both holders' countries of tax residence, usually showing the full balance against each.
• A survivorship clause does not guarantee the survivor the whole balance; the deceased's share may need a succession order.

When to Consult a Lawyer

This question typically requires professional legal advice when:

• The joint account is meant to hold inheritance or property proceeds and you need the source-of-funds file to satisfy the bank.
• You want the account to pass to the surviving holder and need that intention documented rather than left to the account type.
• Each holder is taxed in a different country and you need to know how the CRS report will land at home.

A qualified Israeli attorney should confirm both holders' documentation and the succession consequences before you open the account.

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Speak With an Israeli Attorney

We help relatives in different countries open and document a joint Israeli account, preparing both KYC files, arranging consular or notarised certification, and making sure the survivorship and reporting position is what you actually intend.

Contact us for a confidential initial consultation.