The Hashemite Kingdom of Jordan launched the citizenship by investment scheme for foreign investors in Feb 2018 who meet certain conditions, with the aim of bringing more foreign direct investment to Jordan and adding more economic activity.
When the government first launched the initiative to grant citizenship to investors in February, it was only limited to investors who start new investments under certain conditions, but in mid-November the Cabinet made some amendments to expand the programme’s privileges to already operational projects.
“After the government’s latest decision, we received 130 requests by investors who have existing projects to obtain the citizenship. A specialised government committee will start looking into these request next week,” Minister of State for Investment Affairs and Jordan Investment Commission (JIC) Chairman Muhannad Shehadeh said on Monday.
He added that nine requests by Arab investors to obtain the Jordanian citizenship had already fulfilled the conditions and will be referred to the Cabinet next month.
Once approved, the overall number of investors who will receive citizenship will increase to 15.
In Sep 2018, 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.
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.
Jordan citizenship scheme is limited to 500 cases annually. For more information, please visit https://jic.gov.jo
Permanent residence
To obtain permanent residency, any non-Jordanian can buy property worth at least JD 200,000 without selling or disposing it in any manner for a period of ten years
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