Jordan plans amendments to the citizenship by investment program
Published at: 25/10/2019 09:04 am
Jordan's citizenship by investment program will change to attract more wealthy investors under the passport and residency schemes.
Interior Minister of Jordan and head of the investors' committee, Salameh Hammad announced the planned amendments of the citizenship by investment and the residency by investments of the country. The cabinet aims to attract more investors, creating more jobs and localising current investments, according to the Jordan Times.
The Jordan citizenship by investment program started in 2018, and 21 applicants obtained the valuable passport of the country so far.
Investment options of Jordan citizenship by investment program
The applicants now must deposit 1,5 million USD on a zero-interest account for five years at the Central Bank of Jorden. Another option is to purchase Treasure bonds of the same value and keep it for at least ten years. The third investment option is to buy securities (1,5 million USD) of an active investment portfolio, and the fourth scheme is an investment of one million dollars in a Small or Medium-Sized Enterprise for at least five years. Moreover, the applicants can invest two million USD anywhere in Jordan, or invest one and a half million dollars if the project is located in a governorate other than Amman if the project creates a minimum of 20 jobs and operates for at least three years.
The residency by investment scheme's requisite is to purchase property for at least JOD 200,000 (256,000 EUR). The residents must keep their investments for ten years.
The successful investors may obtain the Jordanian passports or residence permits for their spouses and unmarried, widowed or divorced children below 18 years of age and their financially dependent parents.
The Kingdom of Jordan is a Western Asian, Arabic country on the Jordan River's East Bank. Its population is a little bit more than ten million, and the GDP per capita is 9, 406 USD.