Jordan Investment Commission (JIC) has announced that it has received 105 applications in total for citizenship based on the investment activity. The number of investors has doubled within this year.
In April 2018, 52 investors applied for nationality under the investment scheme and this has doubled within 5 months.
Last February, Jordan announced new citizenship through investment scheme for foreign investors who invest in the country.
According to the minister, the overall number of requests submitted to the JIC to obtain citizenship reached 105 and they are still being studied to ensure that are in line with the terms set by the government.
The Minister of state for investment affairs and Jordan Investment Commission (JIC) chairman, Muhannad Shehadeh, said to Jordan Times on Monday.
The government will approve eight requests by Arab investors to obtain the Jordanian nationality in two weeks under an incentives scheme introduced by the government, an official said on Monday.
The approval of the eight requests will increase to 15 the overall number of investors to receive citizenships under the programme, which the government introduced in February, minister of state for investment affairs and Jordan Investment Commission (JIC) chairman, Muhannad Shehadeh, said on Monday.
Citizenship
Under the Cabinet’s decision in February, investors are required to invest several options to become eligible for citizenship (jordanian national).
- Zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ) or
- Treasury bonds for $1.5 million at an interest rate to be decided by CBJ for no less than ten years.
- Buy securities worth $1.5 million from an active investment portfolio or
- Invest $1 million in SMEs for at least five years
- $2-million investment in any location in the country, or
- $1.5 million if the project is registered in a governorate other than Amman, provided that the project creates at least 20 job opportunities and remains operational for at least three years.
Permanent residency
To obtain permanent residency, any non-Jordanian can buy property worth at least JD200,000 without selling or disposing it in any manner for a period of ten years
Scheme provisions
The Government during the launch also announced the scheme will have the following provisions..
- Scheme will apply to 500 cases annually after a security clearance and checking on financial adequacy.
- Citizenship/residency will be revoked for any violations of conditions
- Residency or citizenship for wife, unmarried, widowed or divorced daughters, sons who are below 18 years old and parents if he or she were the sole supporters of them.
- Applications to be processed within 10 days.
For more information, please visit https://jic.gov.jo
