Highlights of the Hashemite Kingdom of Jordan Citizenship By Investment Program (CIP)
King Abdullah |
Middle East |
The Hashemite Kingdom of Jordan |
Jordan Investment Commission |
February 20, 2018
Jordan provides investors with citizenship and permanent residence
On Monday February 19th , 2018 , Jordan announced a Citizenship By Investment Program .High-net-worth individuals can now become Jordanian citizens ! This move by the government is to encourage investment in the kingdom.
Mr. Mohammad Al Momani, Minister of State for Media Affairs, and official Jordanian government spokesman at the press conference held on the matter following a Cabinet meeting said , "The Cabinet decided at the behest of the Minister of State for Investment to grant investors a permanent residency or citizenship status."
Mr. Al-Momani said " Jordan would allow foreign investors Jordanian nationality and permanent residency in certain cases and under conditions set by the government".
Basic rules and procedures for the award of Jordanian nationality through investment
Mr. Al Momani said that Jordanian citizenship would be granted to the investors who meet the investment criteria for one of the five investment platforms. This includes :
- Option 1 : Placing a deposit of $ 1.5 million with the Central Bank of Jordan without interest for a period of five (5) years;
- Option 2 : Purchase of treasury bonds worth $ 1.5 million and for ten (10) years and interest determined by the Central Bank of Jordan;
- Option 3 : Buying stock (shares) in Jordanian companies for $ 1.5 million ;
- Option 4 : Investing in small and medium-sized enterprises in the amount of one $ 1 million for a period of not less than five (5) years.
- Option 5 : Registration of an investment project in any of the productive sectors with a capital of not less than $1.5 million outside the capital (Amman) and $ 2 million inside the capital provided that at least twenty (20) jobs are provided to Jordanians, registered with the Social Security institute and the actual operation of the projects ongoing for a period not less than three (3) years.
With these figures, it is evident that the Jordan Citizenship By Investment Program has chosen not to compete on price with the other Citizenship By Investment Programs.
Government sets conditions to grant permanent residency to investors
To obtain permanent residency, any non-Jordanian can buy a property worth no less than USD 282,000 , provided that the Lands and Survey Department confirms the value, for 10 years without selling the property in question or dispose it in any manner. Having said that , buying real estate for $ 282,000 could get you a residency in Jordan !
Family members :
Any investor who obtains any of the said two statuses will have the right to obtain a similar status for spouse, single (unmarried), widowed or divorced dependent daughters who live in the confines, children who are under the age of 18 years and parents who are dependent on Jordanian nationality or permanent residence As required.
The Jordanian government announced that only 500 applicants will be accepted each year! The goal here is to maintain the exclusiveness of the Jordan Citizenship By Investment Program and also keep nationals on side who don’t want the government to do anything to endanger national security or jeopardize their visa-free travel. As of 1 January 2018, Jordanian citizens had visa-free or visa on arrival access to 45 countries and territories.
Here Jordan is going after a more exclusive clientele for their Citizenship By Investment Program as the focus is on developing the kingdom through increased Foreign Direct Investment. Thus, the investment opportunities available under the program are significant and so better suited to the super-rich.
Jordan will undertake the necessary checks and balances in order to attract people with a large potential and sound reputation . Having said that , those wishing to secure a second passport through the Jordan Citizenship By Investment Program must undergo security background check , and in case of violations to any of the conditions, the citizenship will be revoked and residency cancelled.
The citizenship by investment industry has undergone a lot of changes in the last year. Depending on your situation, there are many options . If you prefer to invest less , there are a few of countries that offer Citizenship By Investment Programs .
For the Citizenship by Investment Programs comparison table, please click here.
To see our Citizenship and Residency Programs by Investment in Real Estate comparison table, please click here
To see our Caribbean citizenship by investment comparison table, Please click here
To compare St Kitts vs. Antigua vs. Grenada vs. St Lucia vs. Dominica , please click here
To see our Malta & Cyprus Citizenship Programs Compared table, please click here
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