Tuesday September 18, 2018 10:00 AM
AMMAN — The government will approve eight requests by Arab investors to obtain the Jordanian nationality in two weeks under an incentives scheme introduced by the government, an official said on Monday.
The approval of the eight requests will increase to 15 the overall number of investors to receive citizenships under the programme, which the government introduced in February, minister of state for investment affairs and Jordan Investment Commission (JIC) chairman, Muhannad Shehadeh, said on Monday.
“All eight requests met all measures set by the government and procedures were completed,” he told The Jordan Times on Monday, adding that the requests are by Syrian, Iraqi and Palestinian investors.
The minister added that seven requests by Arab investors to obtain the nationality are in the final stages.
According to the minister, the overall number of requests submitted to the JIC to obtain citizenship reached 105 and they are still being studied to ensure that are in line with the terms set by the government.
Under the Cabinet’s decision in February, investors were offered several options to become eligible for citizenship. They include a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ) or buying Treasury bonds of the same value at an interest rate to be decided by CBJ for no less than ten years.
The third option is to buy securities worth $1.5 million from an active investment portfolio or to invest $1 million in SMEs for at least five years to become a Jordanian national.
Investors can also make a $2-million investment in any location in the country, or $1.5 million if the project is registered in a governorate other than Amman, provided that the project creates at least 20 job opportunities and remains operational for at least three years.
To obtain permanent residency, any non-Jordanian can buy property worth at least JD200,000 without selling or disposing it in any manner for a period of ten years, provided that the Lands and Survey Department confirms the property’s value.
An investor who obtains any of the mentioned two statuses will have the right to obtain a similar status for their spouse, unmarried, widowed or divorced daughters, sons below 18 years old and for their parents, if they are their sole supporters.