New Olim or returning Israelis who have resided abroad for at least 10 full years (and for whom the center of life was abroad during those years), receive 10 years of tax concessions and benefits. For a period of 10 years, eligible new Olim and returning residents are exempt from tax on all income that originates outside Israel. The exemption covers all passive income, such as interest, dividends, allowances, royalties and rent from properties. Income, whether derived from the realization of assets and investments abroad or from current passive income abroad, is tax-exempt. See also here.