Jordan’s new citizenship by investment program is already attracting investors for citizenship. Â Jordan officially announced citizenship by investment program in Feb 2018.
The Minister of State for Investment Affairs and Jordan Investment Commission (JIC) Chairman Muhannad Shehadeh told The Jordan Times..
Jordan Investment Center (JIC) had received 56 applications by Arab investors to obtain Jordanian nationality and permanent residency, following a recent Cabinet decision endorsing the new incentive system.
Of the total, 52 applied for obtaining nationality and four for permanent residency, the minister said, and of the total, 27 had received the necessary security approvals.
The applications were submitted by investors from various nationalities including Iraqi, Lebanese, Syrian, Yemeni and Palestinian, working in the fields of tourism, industry and agriculture, according to the official. Â Some of the applicants hold foreign nationalities, including European, American and Commonwealth counties.
Approvals for other investors to obtain the Jordanian nationality will be issued in ten days, the minister said.
Under the decision, investors were offered several options to become eligible for citizenship. They include a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ), or buying Treasury bonds of the same value at an interest rate to be decided by CBJ for no less than ten years.
The third option is to buy securities worth $1.5 million from an active investment portfolio, or to invest $1 million in SMEs for at least five years to become a Jordanian national.Â
Investors can also make a $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.
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, provided that the Lands and Survey Department confirms the property’s value.
