The 10-year grace period granted to new immigrants, in its current form, specifically exempts business income derived or generated outside Israel.
In the latest webinar of the Shenkman Winter Webinar Series, "Business Income of New Olim: Pitfalls and Risks", Head of Tax, Boaz Feinberg, focused on what this entails and the major tax risks in planning business activity once the new immigrant becomes an Israeli tax resident.