Jordan Investment Commission receives 169 applications for nationality

AMMAN — The Jordan Investment Commission (JIC) on Thursday said that it had received 169 applications from foreign investors for Jordanian nationality. 

Eight of the applications meet all of the terms and conditions necessary to receive Jordanian citizenship, and will be referred to the Council of Ministers, according to a JIC statement. 

A total of 24 applications would be referred to a technical committee that was formed to consider the applications.

The committee will ensure that the applications meet the necessary conditions, before referring its recommendations for each application separately to a special committee for granting the nationality, the statement added.  

In November, the Cabinet amended conditions, set in February 2018, to grant investors Jordanian nationality or residency. 

The new rules included changes to several previous policies, and allowed investors who have been present in the country to apply and obtain the same privileges as their newly-allowed peers. 

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 at the same amount with an interest rate to be decided by CBJ for a period of no less than 10 years.

The third option involves buying securities, also valued at $1.5 million, from an active investment portfolio, while he or she can invest $1 million in SMEs for three years (previously, the period was five years) to become a Jordanian national. 

The fifth scenario involves a $2-million investment, or $1.5 million investment if the project is registered in any governorate other than Amman, provided such a project creates at least 20 jobs and remains operational for at least three years. 

Successful applicants will be given a temporary passport which is valid for three years, and will be treated as full citizens, minus political rights. Their status will be changed to full citizenship with full rights after three-years of active operation of their project.