Foreign investors to be granted Jordanian nationality

Economy

Published: 2018-02-20 12:05

Last Updated: 2018-02-20 14:50


The Cabinet has capped the total number of investors at 500 per year. (Prime Fund)
The Cabinet has capped the total number of investors at 500 per year. (Prime Fund)
Roya News Source

If you’re looking to invest your money in Jordan, not only will you be rewarded with profit, but with a Jordanian passport as well.

Muhannad Shehadeh, minister of state for investment affairs and head of the Jordan Investment Commission (JIC), said on Tuesday that the decision to grant international investors the Jordanian nationality "was made after much deliberation and in-depth studies.”

Meanwhile, the Minister of Industry, Trade and Supply, Yarub Qudah, stressed that the decision "was not politically-motivated."

In order to qualify, the Cabinet requires you to fit the following criteria:

1. The investor must deposit $1.5 million in the Central Bank of Jordan, without making any profit or purchasing Treasury bonds for five years.

2. The investor must buy shares valued at $2.1 million in any Jordanian company(ies).

3. The investor must invest $1.5 million in Jordanian Governorates and $2 million in the capital Amman, with the condition of providing at least 20 job vacancies that would last for a minimum of three years.

On the other hand, an investor will just receive permanent residency if they buy a property worth no less than $282,000, on the condition that they don't rent it out or sell it for 10 years.

The spouse, sons and unmarried daughters of that investor will also be entitled to the permanent residency.

The Cabinet has capped the total number of investors at 500 per year.