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                                    FORM 6-K

                       SECURITIES AND EXCHANGE COMMISSION
                              Washington D.C. 20549

                        Report of Foreign Private Issuer
                        Pursuant to Rule 13a-16 or 15d-16
                     of the Securities Exchange Act of 1934





For the month of October 2006

Commission File Number: 0-29442

                           Formula Systems (1985) Ltd.


                 (Translation of registrant's name into English)


                       3 Abba Eban Blvd. Herzliya, Israel

                    (Address of principal executive offices)

Indicate by check mark whether the registrant files or will file annual reports
under cover Form 20-F or Form 40-F.

                         Form 20-F X   Form 40-F________

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(1): N/A

Indicate by check mark if the registrant is submitting the Form 6-K in paper as
permitted by Regulation S-T Rule 101(b)(7): N/A

Indicate by check mark whether by furnishing the information contained in this
Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.

                                             Yes____        No X

If "Yes" is marked, indicate below the file number assigned to the registrant
in connection with Rule 12g3-2(b): 82- N/A







                                    CONTENTS

This report on Form 6-K of the registrant consists of the following document
which is attached hereto and incorporated by reference herein:

99.1  Notice of Extraordinary General Meeting of Shareholders for
      November 12, 2006 and Proxy Statement






                                   SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.


                                           Formula Systems (1985) Ltd.

                                           (Registrant)

                                           By: /s/ Dan Goldstein
                                               ---------------------
Date: October 5, 2006                          Dan Goldstein





                                  EXHIBIT INDEX

Exhibit Number                 Description of Exhibit

99.1                  Notice of Extraordinary General Meeting of Shareholders
                      for November 12, 2006 and Proxy Statement