Investment commission has issued 321 investor cards since January — JIC

AMMAN — The Jordan Investment Commission (JIC) on Monday announced that it had issued 321 investor cards since the beginning of 2019 for Arab and foreign investors and their families.

The JIC, in a statement sent to The Jordan Times, said that it had issued and renewed 64 investor cards for category A, and 122 investor cards for category B Syrian investors, while the commission also issued 135 cards for individuals. 

The category A card is granted to those of local, Arab and foreign nationalities provided that applicants own shares worth at least JD150,000, and that the company provides at least 40 jobs for Jordanians and registers them with the Social Security Corporation.

If shareholders fail to meet the conditions of JD150,000 and 40 jobs for Jordanians, the budget of the company will be accredited if it reaches at least JD5 million.

Arab and foreign holders of the card are granted customs exemptions for two cars, which can enter Jordan temporarily. The exemption ends when the investor card’s validity ends and is renewed when the card is renewed.

Investors do not have the right to sell the exemption as stipulated in the Jordan Customs Department’s regulations, the JIC said, adding that holders of these cards receive special treatment at the Jordanian border and while visiting public departments. 

Category B investor cards are only granted to Syrian investors, to facilitate the entry of their family members, registration of private cars, driving licences and the employment of foreign experts and technicians for companies, provided they coordinate with the Ministry of Interior.

Candidates who receive the category B card must have shares worth at least JD50,000, and provide 10 jobs for Jordanians. 

Both categories of the card are issued by the JIC to facilitate procedures for investors and improve the business environment in the Kingdom, according to the commission.