Jordan

Jordan published its first report on the Citizenship by investment and residence by investment program

Official statistics from Jordan Investment Commission (JIC) show the number of applications to its Citizenship and residency by Investment Program have reached 20 applications . On Sunday March 4th 2018 , the (JIC) announced that During the first seven days (February 26th – March 4th of 2018) , Jordan Citizenship ( Nationality) and Permanent Residency (PR) by investment program has received 20 applications.

Minister of State for Investment Affairs and JIC Chairman Muhannad Shehadeh said that "Only one of these applications received the preliminary approval and we are receiving inquiries on a daily basis for further clarification of the new instructions,".

The investors who submitted the applications are of Canadian, Iraqi, Lebanese, Palestinian , Syrian, Sudan, and Yemeni nationalities, he noted.

" We trust that this number will go up sharply after the first passport is issued under the program," Shehadeh added, noting that "the process is very smooth and we are committed to making it very efficient."

Shehadeh described the investment option preference. According to Shehadeh, three of the applications were submitted by investors who made necessary deposits, five bought shares in the Amman bourse, ten applied as they plan to implement or expand existing projects. Two of the applications were filed for purposes of permanent residency.

An investor who obtains any of the mentioned two statuses will have the right to obtain a similar status for his/her spouse, unmarried, widowed or divorced daughters, sons below 18 years old and for their parents, if they are their sole supporters.

Jordan citizenship and residency by investment Conditions

Citizenship by investment means acquiring citizenship against financial contribution. While, residency by investment is the route of obtaining a permanent residency card in another country by investing in the economy of that country.

On February 20th 2018, the Cabinet endorsed a decision under which investors are offered several options to become eligible for citizenship. They include a zero-interest, five-year USD 1.5 million deposit at the Central Bank of Jordan (CBJ), and buying Treasury bonds of the same value at an interest rate to be decided by CBJ for no less than 10 years.

The second option is to buy securities worth USD 1.5 million from an active investment portfolio, and to invest USD 1 million in SMEs for at least five years to become a Jordanian national.

Investors can also make a USD 2-million investment in Amman, or USD 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.

If Investors choose not to gain citizenship , however , they may apply for a permanent residency . To obtain permanent residency,any non-Jordanian can buy property worth at least USD 282,000 (JD200,000) without selling or disposing it in any manner for a period of 10 years, provided that the Lands and Survey Department confirms the property’s value.

Final thoughts

Citizenship by investment and residence by investment programs (“golden visas”) have seen big growths in recent years. Citizenship by investment programs (CIP) gets you fast track citizenship . The benefits of second citizenship are appealing such visa free travel to several countries, education for children, freely do business, and also benefits stateless persons .

Many countries offer residency by investment programs in order to attract much-needed foreign direct investment. Countries can then use these funds to invest in their own economic or cultural projects. Jordan is no an exception .

If you are looking for second citizenship or want to apply as permanent resident ,fill our FREE assessment now!

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