Jordan is a country with a rich history and strategic location in the Middle East. It offers investors a pathway to citizenship through a program that attracts foreign capital. The Citizenship by Investment (CBI) program in Jordan is not as well-known as similar programs in Europe or the Caribbean, but it has its own benefits.
In this article, we will explore how to get Jordanian citizenship by investment. We will discuss the requirements, the benefits, and the process involved. Whether you are an investor seeking a new citizenship or someone interested in Jordan’s CBI program, this guide will provide all the information you need.
Overview of Jordan’s Citizenship by Investment Program
Jordan introduced its Citizenship by Investment program in 2018. The goal was to boost the economy by attracting foreign investors. Like other countries, Jordan saw CBI as a way to bring in fresh capital and create jobs. In exchange, the government offers investors Jordanian citizenship.
The program is overseen by Jordan’s Ministry of Interior. It requires investors to make specific financial contributions to the country. These contributions can take different forms, which we will discuss in detail below.
Investment Options
The Jordanian Citizenship by Investment program offers several investment options. Each option has specific requirements, and investors can choose the one that best suits their financial capabilities. The main options are:
Investment in Government Bonds
Investors can purchase government bonds with a minimum value of $1.5 million. These bonds must be held for at least six years. This option is attractive to those who prefer a relatively low-risk investment. However, the long holding period might deter some investors.
Investment in a Local Business
Another option is to invest in a local business. The minimum required investment is $1.5 million if the business is in the capital, Amman, or $1 million if it is in other areas. This investment must lead to the creation of at least 20 jobs for Jordanians and must be maintained for three years.
Investment in the Jordanian Stock Market
Investors can also purchase shares on the Jordanian Stock Exchange. The minimum investment in stocks is $1.5 million. Like the other options, this investment must be held for a minimum of three years.
Investment in Real Estate
Investors can invest in real estate with a minimum value of $2 million. The real estate must be located in Amman or other approved areas. This option also comes with a holding period of three years.
Non-refundable Contribution
Finally, there is the option to make a direct non-refundable contribution of $750,000 to the government. This option is ideal for those who do not want to engage in a long-term investment but are willing to contribute to Jordan’s development.
Eligibility Requirements
In addition to the financial requirements, there are other criteria that applicants must meet. These include:
Age
Applicants must be at least 18 years old to apply for citizenship by investment.
Good Health
Applicants must provide proof of good health, typically in the form of a medical certificate. This is to ensure that they do not carry any contagious diseases.
Clean Criminal Record
All applicants must have a clean criminal record. A police clearance certificate from their home country is required. Jordan wants to ensure that only reputable individuals obtain citizenship.
Source of Funds
Applicants must demonstrate that their funds were obtained legally. This is a standard requirement for most CBI programs to prevent money laundering.
The Application Process
The application process for Jordanian citizenship by investment is straightforward but can take several months to complete. Here is a step-by-step breakdown of how it works:
Choose an Investment Option
The first step is to decide which investment option is most suitable for you. Investors should carefully evaluate each option based on their financial goals and risk tolerance.
Submit an Application
Once an investment option is selected, the next step is to submit an application to the Ministry of Interior. This application will include personal information, details about the investment, and all supporting documents.
Background Check
After the application is submitted, Jordan’s authorities will conduct a thorough background check. This is to ensure that the applicant has no criminal history and that the funds for the investment are legitimate.
Approval and Investment
If the background check is successful, the applicant will receive preliminary approval. The investor must then make the chosen investment, whether it is purchasing bonds, stocks, or real estate.
Issuance of Citizenship
Once the investment is confirmed, Jordanian citizenship is granted. The investor will receive a Jordanian passport, granting them full rights as a Jordanian citizen.
Benefits of Jordanian Citizenship by Investment
There are several benefits to obtaining Jordanian citizenship through investment. These include:
Access to Jordan’s Growing Economy
Jordan has a stable and growing economy. By obtaining citizenship, investors gain access to the country’s business opportunities. This can be particularly advantageous for those looking to expand their business in the Middle East.
Visa-Free Travel
Jordanian citizens enjoy visa-free or visa-on-arrival access to over 50 countries. While this list is not as extensive as some other nations, it includes key destinations such as Turkey, Egypt, and Indonesia.
Permanent Residency for Family Members
Investors can include their spouse and dependent children in the application. This allows the entire family to enjoy the benefits of Jordanian citizenship.
Dual Citizenship Allowed
Jordan allows dual citizenship, meaning investors do not have to give up their original nationality.
Stable Political Environment
Jordan is known for its political stability in a region that is often turbulent. The country has a strong relationship with Western nations, making it a safe and secure place for investors.
Limitations of the Program
While the Jordanian Citizenship by Investment program offers several advantages, there are also some limitations to consider:
Limited Visa-Free Travel
As mentioned earlier, Jordan’s passport does not offer the same level of visa-free access as other CBI programs. Investors seeking extensive global mobility may find better options in Europe or the Caribbean.
High Investment Threshold
The minimum investment required for Jordan’s CBI program is relatively high compared to other countries. This might make it less appealing to investors looking for lower-cost options.
Long Holding Periods
Most of the investment options require the investor to hold their investment for several years. This limits liquidity and could be a drawback for some.
See also: How To Get A Portuguese Citizenship Through Investment
Conclusion
Jordan’s Citizenship by Investment program offers a valuable opportunity for investors to gain citizenship in a stable and strategically located country. The program provides several investment options, ranging from government bonds to real estate, and allows investors to include their family members.
While the program has its advantages, such as access to Jordan’s economy and visa-free travel to a number of countries, it also has some limitations. The high investment threshold and limited global mobility may not appeal to all investors.
Overall, Jordan’s CBI program is worth considering for those who are interested in the Middle East and are looking for a safe and stable environment for investment. If you meet the requirements and are willing to make the necessary financial commitment, Jordanian citizenship could be a valuable asset.
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