According to a press conference last week, Jordan’s Cabinet has agreed on certain conditions that will grant investors either Jordanian citizenship or permanent residency in the country.
State Minister for Media Affairs and Government Spokesperson Mohammad Momani made the announcement shortly after the Cabinet meeting that finalized the requirements for potential investors.
There will be five different scenarios under which foreign investors can obtain Jordanian citizenship:
- A $1.5 million USD deposit (no interest) at the Central Bank of Jordan (CBJ) to be held for 5 years.
- Spending $1.5 million USD on treasury bonds at an interest rate to be decided by CBJ and held for a minimum of 10 years.
- Investing at least $1.5 million USD in securities from an active investment portfolio.
- Investing at least $1 million USD in SMEs for a minimum of 5 years.
- A $2 million USD investment anywhere in Jordan – or $1.5 million USD if the project is registered in any governorate other than Amman if the project creates at least 20 job opportunities and remains operational for at least 3 years.
Foreign nationals will also have the option to invest a minimum of JD200,000 ($282,000 USD) into property, after the Lands and Survey Department confirms the value. The investor must hold the property for 10 years to maintain their status.
Through both the CBI and RBI programs, foreign investors will be permitted to obtain the same status for their spouse, “unmarried, widowed or divorced daughters”, sons under 18, and dependent parents.
Jordan plans to place a cap on the program at 500 approvals per year and will only approve applicants after they have passed a security clearance and proved financial support. Either status can be immediately revoked if investors violate any of the conditions.
The Jordanian passport currently ranks quite low on the Henley 2018 Passport Index at 92, offering visa-free travel to 45 countries.