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Long Term Debt (Details) - USD ($) $ in Thousands | 1 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Nov. 30, 2016 | Dec. 31, 2021 | Dec. 31, 2020
Long Term Debt (Details) [Line Items] |  |  |
Loan amount |  | $ 20,155 | $ 13,352
Description of financial covenants |  | a.Total equity attributable to Magic Software Enterprises shareholders shall not be lower than $ 100,000 at all times; b. The Company’s consolidated cash and cash equivalent and marketable securities available for sales shall not be less than $ 10,000; c. The ratio of the Company’s consolidated total financial debts to consolidated total assets will not exceed 50%; d. The ratio of the Company’s total financial debts less cash, short-term deposits and short-term marketable securities to the annual EBITDA will not exceed 3.25 to 1; and e.The Company shall not create any pledge on all of its property and assets in favor of any third party without the financial institution’s consent. |
Loan amount description |  | (2)On June 1, 2021, the Company obtained a loan in the amount of $ 15,000 from an Israeli bank. The principal amount of the loan is payable in eight equal annual installments with the final payment due on December 1, 2025 and bears a fixed interest rate of LIBOR + 2.1% per annum, payable in two semi-annual payments. |
Long-Term Debt [Member] | Israeli Institutional Corporation [Member] |  |  |
Long Term Debt (Details) [Line Items] |  |  |
Loan amount | $ 31,356 |  |
Final payment due date | Nov. 02, 2023 |  |
Fixed interest rate | 2.60% |  |

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