A vessel is eligible for registration in the Israeli registry only if it is majority-owned by the state or Israeli citizen or Israeli corporation. Exceptionally, even in the absence of compliance with the ownership requirements, the Minister of Transport can allow the vesselto be registered under the national flag, subject to sufficient link between the vessel and the state of Israel.
"Definitions
1.In this law - [...]
"Israeli corporation" - a corporation that is legally registered in Israel or established by law in Israel, except for a foreign company registered under section 248 of the Companies Ordinance; However, if the Minister of Transportation sees that there is no real affiliation between a particular corporation and the State of Israel, and that there are special reasons not to see it as an Israeli corporation for the purposes of this law, he may notify the registrar and if so, the corporation will not be considered Israeli.
[...]
A vessel qualified for registration
2. (a)   vessels more than half is owned by the state or a citizen of Israel or an Israeli corporation, is eligible for registration.
(b)   Notwithstanding the provisions of subsection (a), the Minister of Transportation may notify the Registrar that a vessel is not eligible for registration in the Israeli Registry, if the Minister had special reasons for it, concerning ownership of parts not in the hands of the state, Israeli citizen or Israeli corporation.
A vessel whose registration is authorized
3.  (a)   vessels not fulfilled the qualifications for registration set forth in Section 2 or ceased to exist, the Minister of Transport, if he is satisfied there is sufficient connection between the vessel to Israel, to allow the owner of the vessel in the registry to register Israeli or allow Israel to remain registered in the register , All under conditions or without conditions, as will appear to the Minister.
(b) If the   Minister sees that there is no longer a sufficient affiliation between the vessel and the State of Israel or that the conditions of the permit have not been met or have ceased to exist, the Minister may revoke the permit.[...]" (Shipping (Vessels) Law (14.08.1960), last amended 22.07.2004, Sections 1, 2 and 3 [google translation])
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"Chapter Eleven: (Canceled)
244 . To 255 . (Canceled)." (Companies Ordinance (19.8.1983), last amended 15.3.2018, Section 248 [repealed])
Shipping (Vessels) Law (14.08.1960), last amended 22.07.2004, Sections 1, 2 and 3
Companies Ordinance (19.8.1983), last amended 15.3.2018, Section 248 [repealed]
[<a href="https://www.nevo.co.il/law_html/Law01/P172_001.htm">Law</a>],[<a href="https://www.nevo.co.il/law_html/law01/139_003.htm">Ordinance</a>]