JERUSALEM (JTA) — The United States and Israel have launched a reciprocal policy allowing major investors to reside in each country.

Israel’s Ministry of Foreign Affairs announced Tuesday that it would grant investor visas  permitting U.S. citizens, including vital workers and their families, to reside and work in Israel on a temporary basis for the purpose of managing and developing a business venture.

The visas are in response to an announcement earlier this month by the U.S. Embassy in Israel that it would grant U.S. E-2 investor visas for Israeli nationals that allows them to invest in the U.S. economy and send qualified employees to the United States to develop the enterprise.

Both countries’ investor visas will be implemented starting May 1.

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