Amman: PonteSud – News Desk
The Cabinet on Wednesday approved a new set of regulations aimed at attracting foreign investment by offering Jordanian citizenship or residency for meeting specific investment criteria.
The decision, made during a Cabinet session chaired by Prime Minister Jafar Hassan, follows recommendations by a special committee on investment facilitation, according to the Jordan news agency, Petra.
Under the new rules, foreign investors will be eligible for Jordanian citizenship if they purchase new shares in Jordanian companies worth at least JD1 million, provided the shares are not mortgaged or financed through loans.
The shares must be purchased within four months of receiving approval from the Ministry of Investment and traded exclusively through licensed financial brokerage firms.
As per the new regulations, investors are prohibited from withdrawing or using any funds from the investment, including trading profits, for a period of three years. Additionally, no more than 20% of the total investment can be concentrated in a single company.
Citizenship may also be granted to investors who establish and register new productive-sector projects with a minimum capital of JD700,000 in Amman or JD500,000 outside the capital. The project must create 20 jobs in Amman or 10 jobs elsewhere for Jordanian nationals, verified by the Social Security Corporation (SSC).
Under the new rules, investors will receive temporary residency during the initial phase and, once employment targets are met, a temporary Jordanian passport valid for three years will be issued. Full citizenship will be granted after three years of verified compliance with investment and employment conditions.
Investors may also qualify by acquiring new shares in existing projects worth JD1 million or more, provided at least JD500,000 is invested in fixed and non-current assets. The project must create 20 new jobs for Jordanians, and the investor must retain the shares for at least three years before citizenship is recommended.
The Cabinet also decided that current investors may be eligible for citizenship if they hold shares in projects with an average value of JD700,000 in fixed and tangible assets over the last three years, and if they have maintained 90% of required employment levels, averaging 20 Jordanian workers per month during the same period.
Outside Amman, the asset threshold drops to JD350,000, with an employment requirement of 10 workers. As per the decision, citizenship may also be extended toan investor’s spouse, unmarried, widowed or divorced daughters living under the investor’s care, unmarried sons under 24, and dependent parents.
For investments exceeding in value JD2 million, sons under 30, their spouses, and children may also receive Jordanian citizenship.
Investors in key sectors, including pharmaceutical warehousing, medical equipment, logistics, and large-scale food storage, are eligible if their company’s capital exceeds JD3 million, and they employ 20 Jordanian workers in Amman or 10 workers outside the capital, specifically in pharmacy roles.
Investors employing 150 Jordanians in Amman or 100 Jordanians elsewhere, registered with SSC for at least a year, will also be eligible, provided employment continues for two years post-naturalization.
In cases where ownership is transferred to first-degree relatives, the new owner may also be granted citizenship, contingent on the original investor’s shares being retained for three years.
