Gov’t sets conditions to grant nationality, permanent residency to investors

AMMAN — The Cabinet on Monday set four conditions to grant investors nationality or permanent residency, a senior official announced.

At a press conference following a Cabinet meeting, State Minister for Media Affairs and Government Spokesperson Mohammad Momani said that investors are offered a list of scenarios, each of which makes them eligible for citizenship, including a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ), or buying treasury bonds valued the same amount at an interest rate to be decided by CBJ and for a period not less than 10 years.

The third option for the investor is to buy securities, also at $1.5 million, from an active investment portfolio, while he/she can invest $1 million in SMEs for five years at least to become a Jordanian national. The fifth scenario is a $2 million investment in any location in the country, or $1.5 million if the project is registered in any governorate other than Amman, provided such a project creates at least 20 job opportunities and remains operational for at least three years.   

To obtain permanent residency, any non-Jordanian can buy a property worth no less than JD200,000, 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.

Based on the two points above, any investor who obtains any of the said two statuses will have the right to obtain a similar status for wife, unmarried, widowed or divorced daughters, sons who are below 18 years old and parents if he or she were the sole supporters of them.

Momani added that the criteria will be applied to 500 cases annually after a security clearance and checking on financial adequacy, and in case of violations to any of the conditions, the citizenship will be revoked and residency cancelled.