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Amending the foundations for granting Jordanian citizenship to investors

Amman Today

publish date 2021-09-12 14:40:58

The Council of Ministers, in its session held today, Sunday, headed by Prime Minister Bishr Al-Khasawneh, agreed to amend the foundations for granting investors Jordanian citizenship and residency through investment, for the purpose of creating an environment that attracts foreign investment.

According to the new amendments, Jordanian citizenship is granted to the investor when he deposits a deposit of one million dollars with the Central Bank of Jordan without interest, for a period of three years, and does not withdraw from it during this period, and buys treasury bonds worth one million dollars for a period of six years, with interest determined by the Central Bank of Jordan, This is provided that he has been within the territory of the Kingdom for a period of no less than a month before signing the final recommendation to grant him Jordanian citizenship.

Jordanian citizenship is also granted to the investor when investing through the purchase of shares and/or shares in Jordanian companies for an amount of no less than one and a half million dollars, provided that the shares are not disposed of for a period of no less than three years, provided that the Companies Control Department and/or the Authority Securities by placing a seizure sign on them.

The investor is granted a temporary Jordanian passport for a period of three years, upon establishing and registering a project or investment projects in any of the productive economic sectors, with a total paid-up capital of no less than one million dollars within the borders of the Capital Governorate, provided that (20) real job opportunities are provided for Jordanians, and no less than 750 One thousand dollars outside the borders of the capital, provided that (10) real job opportunities are provided to Jordanians, upon the actual start of operating the project, according to the statements of the General Organization for Social Security. In this case, the investor is given a period of four months to complete the required number of Jordanian employees after actual employment, and then he will be granted Jordanian citizenship after ensuring his compliance with these conditions for a period of three years.

The new amendments also stipulate that the investor, or the ordinary person who is not an investor, be granted residency for a period of five years, regardless of his previous period of residence in the Kingdom, when purchasing a property or more, with a total value of not less than two hundred thousand dinars, according to the assessment of the Department of Lands and Survey; With keeping the real estate for a period of no less than five years without disposing of it or mortgaging it. In this case, the residence is issued by a decision of the Minister of Interior based on the recommendation of the special committee for investors.

The foundations also provided for granting the investor’s wife, his single, widowed and divorced daughters who live under him, his children who were under eighteen years of age at the time of submitting the application, and his dependent parents, Jordanian citizenship, for those investors who fulfilled the requirements for obtaining the above-mentioned citizenship. In the event that the investment exceeds three million dollars, the sons of the male investor who are under thirty years of age at the time of the application, and their wives and children, are also granted Jordanian citizenship.

If the investor is a partner or owns an existing project or projects, he will be granted Jordanian citizenship according to the following:

In existing investments within the limits of the capital, provided that the average share of the investor in the total value of fixed assets, non-current and tangible assets, which can be calculated for the existing project or projects according to certified annual budgets during the last three years, is not less than one million dollars, with a provision of no less than one million dollars. About twenty job opportunities for Jordanians within three years, according to the statements of the General Organization for Social Security, and taking into account the consequences of the Corona pandemic during the year 2020, so that half of the required number is approved during this year, in addition to merging or collecting employment in the event of two separate projects in the capital governorate and any other Another governorate for the purposes of calculating the numbers of workers on the basis of the governorate.

As for investments outside the limits of the capital, it is required that the average share of the investor in the total value of fixed assets and non-current and tangible assets, which can be calculated for the existing project or projects according to certified annual budgets during the last three years, is not less than five hundred thousand dollars, and provides at least five hundred thousand dollars. Ten job opportunities for Jordanians within three years, according to the statements of the General Organization for Social Security.

In the event that a partner is entered, or the company is ceded in favor of one of the branches of the same family of the first degree of kinship, Jordanian citizenship is granted to the new partner / owner, according to the above-mentioned and applicable conditions; Provided that the share of the investor wishing to obtain citizenship shall not be disposed of for a period of three years and that it shall be duly seized.

The foundations also included that Jordanian citizenship shall not be granted to any investor who owns shares from any other investor who has obtained Jordanian citizenship based on those shares, and that these foundations shall be applied to only five hundred investors annually, and after taking all necessary measures and verifying financial solvency before starting these Procedures and according to the priority of submitting the application, and in the event of a breach of any of the conditions, the Jordanian nationality will be withdrawn or the residency is cancelled, as the case may be.

The bases are reviewed and evaluated once every six months, and are not applied retroactively.

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Jordan News

Source : اخبار الاردن

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