New law specifies conditions for granting ‘A-class investor card’

AMMAN — The recently enacted Environmental Investment Regulation Law specifies conditions for granting "A-class investor card" to prospective investors, with the aim of simplifying and facilitating procedures with official departments and authorities. 

Holders of this card will be given priority in completing transactions with the concerned departments and authorities, the Jordan News Agency, Petra, reported on Monday.

According to the law, investors shall be granted an “A-class investor card” if their share in the registered capital of the company, or the total of their shares in companies in which they own shares, is at least JD150,000. It also states that the company or companies, owned by the investor, must provide at least 25 jobs for Jordanians, or five jobs for Jordanians in information technology and software development.

The card shall also be granted to investors if their share in the registered capital of the company, or the total of their shares in companies in which they own shares, is at least JD 300,000. The company or companies must provide at least 15 jobs for Jordanians, or three jobs for Jordanians in information technology and software development. At the time of the card’s issuance, the Jordanian workforce referred to must have been registered with the Social Security Corporation for a period of no less than four  months. 

According to the law, the minister has the authority to grant an “A-class card” to an investor in any project that does not meet the conditions specified in Article 4 of these regulations if the investment size (fixed assets of the project or existing projects) has exceeded JD1.5 million, or if the sales, import, or purchase volume has exceeded JD1.5 million, provided that the value of fixed assets is not less than JD0.5 million, and at least three jobs are provided to Jordanians.