Cabinet endorses cooperative, customs, virtual assets draft laws

• Council of Minister approves tax exemptions, residency incentives to attract investment
• Gov't standardises fees for Syrian, Jordanian transporters to boost trade

AMMAN — The Cabinet on Wednesday approved a series of key legislative reforms to bolster Jordan’s economic stability and foster development across several sectors, including cooperatives, customs, and virtual assets.

The Council of Ministers endorsed the draft cooperative law of 2025, which seeks to establish a Cooperative Development Fund within the Cooperative Institution. 

The fund will support small and medium-sized agricultural projects, particularly in rural areas, creating new employment opportunities, according to a Prime Ministry statement. 

The draft law also introduces the Cooperative Development Institute, which will promote the cooperative model across the Kingdom. 

Measures also include simplifying the process of establishing and registering specialised regional cooperatives and aligning the country’s practices with international best standards.

The draft law also emphasises increasing participation from women, youth, people with disabilities and residents of remote areas in the cooperative sector.

The Cabinet also approved the draft customs law of 2025, aimed to increase efficiency and reduce delays in the clearance of goods. 

The law allows the Jordan Customs Department to adopt international best practices and expedite regulatory procedures, ensuring a more efficient and transparent customs process. 

By reducing delays in the clearance of goods, the draft law aims to facilitate smoother trade operations and enhance regulatory oversight.

The draft law also introduces post-clearance audits to strengthen compliance with international standards while safeguarding financial confidentiality. These measures are expected to streamline operations and bolster Jordan’s trade competitiveness in the international market.

With the rapid international growth of virtual assets, the Cabinet also endorsed the draft virtual assets law of 2025, establishing a legal framework for the use of these assets in Jordan. 

The law seeks a balanced approach, encouraging innovation while ensuring financial stability. It also includes provisions for transparency and anti-money laundering compliance, allowing the use of virtual assets for specific activities but limiting their role as a means of payment unless approved by the Central Bank of Jordan.

The Cabinet also introduced amendments to the bank deposit requirements for foreign nationals seeking to renew residency permits in Jordan. 

Under the new measures, property owners will no longer need to deposit JD 10,000 as long as they retain ownership and have lived in the Kingdom for more than two years. 

Additionally, the deposit requirement for non-property owners has been reduced from JD20,000 to JD10,000 for a five-year residency permit. These adjustments are expected to stimulate foreign investment and facilitate long-term residence.

In line with its commitment to sustainable development, the Cabinet exempted the Jerash Eco-Tourism City project from sales tax. Initially conceived as an industrial hub, the project will now focus on creating an eco-friendly agro-tourism destination, reflecting Jordan’s growing emphasis on green initiatives and sustainable tourism.

The Cabinet also approved the exemption of Syrian trucks from additional fees while ensuring the standardisation of fees for both Jordanian and Syrian transporters. This move is in accordance with the principle of reciprocity between the two countries, promoting fairness and facilitating trade.

The Council of Ministers also approved several infrastructure improvement projects, including the upgrade of vital roads such as Sukhnah-Shouna and Wadi Shaib, both of which play a crucial role in the agricultural and tourism sectors. These enhancements are expected to improve accessibility and stimulate regional development.

The Cabinet also endorsed several international agreements aimed at enhancing Jordan’s global partnerships. Notably, a partnership with the United Nations Population Fund (UNFPA) will focus on empowering women and youth through capacity-building initiatives. Another agreement with Morocco will see the creation of a multidisciplinary vocational training centre, aimed at fostering skills in key sectors like digital technology, health, and engineering.