35% increase in Jordan citizenship applications

Jordan’s economic citizenship program is getting more popular and there has been a 35% increase in citizesnhip applications, compared to previous month, said the government. According to Zawya, a total of 105 investors have applied for citizenship and permanent residency scheme in Jordan through the Jordan Investment commission (JIC).

According to JIC, 7 investors have already received their citizenship and 15 citizenship cases are pending with the passport office.

On Feb 20, 2018 at a press conference following a Cabinet meeting, State Minister for Media Affairs and Government Spokesperson Mohammad Momani announced Jordanian citizenship by investment scheme. The Minister announced that the limit will be capped to only 500 applicants each year. All applicants will be subjected to security clearance and due diligence checks before approvals.

In Feb 2018, 52 investors applied for Jordan citizenship by investment. In about five months, the applications doubled.

Citizenship by Investment

• Bank deposit: Invest in a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ)
• Treasury bonds: buying treasury bonds valued $1.5 million  at an interest rate to be decided by CBJ for a period of 10 years.
•  Securities: Buy securities, valued at $1.5 million from an active investment portfolio.
• Small and Medium Enterprises: Invest $1 million in SMEs for five years
• Investment project: Make $2 million investment in any location in the country, or $1.5 million if the project is registered in any Governorate other than Amman, provided such a project creates at least 20 job opportunities and remains operational for at least three years.

Permanent Residency Scheme

Jordan offers permanent residency to overseas investors and their families.

Investors who buy a property at-least JRD 200,000 ($280,000) and hold the property for 10 years are eligible for permanent residency in Jordan.

The official website of JIC is available at https://jic.gov.jo

Jordan is very attractive for investment with the following benefits (figure)