28 Millionaire investors apply for Jordanian nationality

Economy

Published: 2018-03-06 16:21

Last Updated: 2018-03-06 18:03


The government has capped the total number of Jordanian nationalities to be granted to foreign investors at 500 per year. (Al Ghad)
The government has capped the total number of Jordanian nationalities to be granted to foreign investors at 500 per year. (Al Ghad)
Roya News Source

Following the government’s recent decision to grant the Jordanian nationality to foreign investors, should they meet certain criteria, 28 investors contacted the Jordan Investment Commission (JIC) with their wish to make an investment in the kingdom and to apply for a Jordanian passport, government spokesman Mohammad Al Momani said on Monday.

The 28 cases are currently being studied by the government, Al Momani said.

Al Momani added that 35% of the phone calls received by the JIC on a daily basis enquire about the procedures needed to obtain the Jordanian citizenship.

To be eligible for obtaining the Jordanian nationality, investors must 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 government has capped the total number of Jordanian nationalities to be granted to foreign investors at 500 per year.