In September 2021, the Jordanian government simplified the conditions of the citizenship program to attract more investors and businessmen. This was reported by Petra, the Jordanian state news agency.
The main change is that the minimum investment amount for some options has been reduced by $500,000, from one and a half million to one. Investors will now also be able to obtain a residence permit in Jordan for the purchase of the real estate in the country.
Let's talk about the new Jordanian citizenship and residence permit rules for investors.
How to apply for Jordanian citizenship under the new rules
Citizenship quota. The Jordanian government plans to issue up to 500 passports annually to investors.
Investment options include:
- Opening an interest-free deposit with the Central Bank of Jordan;
- Buying government bonds. The interest on the bonds is set by the Central Bank;
- Acquiring a share or shares in local companies if the shares are stamped by the Jordanian Companies Regulatory Authority or the Jordan Securities Commission;
- Developing their own business project and creating new jobs. The investor has four months to hire employees after the start of the project. At the same time, the investor receives a temporary passport for three years. If, after three years, the project is successful and the jobs are maintained, the investor will receive Jordanian citizenship.
The amount of investment depends on the option chosen. The minimum amount of $750,000 applies to business projects operating in any region of Jordan, except the capital Amman.
Minimum investment amount for the Jordanian citizenship programme
|Investment||The amount under the old||The amount under the new|
|Deposit with the Central Bank of Jordan||$1,500 000||$1,000 000|
|Purchasing government bonds||$1,500 000||$1,000 000|
|Developing a business project in the capital Amman||$2,000 000|
+ 20 new jobs
+ 20 new jobs
|Development of a business project in another region of Jordan||$1,000 000|
+ 20 new jobs
+ 10 new jobs
|Buying shares in Jordanian companies||$1,500 000||$1,500 000|
The holding period for the investment is three years for all options except for the purchase of government bonds. You must hold the securities for at least six years.
Participation of family members of the investor. The investor's spouse and financially dependent parents can apply for citizenship together with the investor. The investor's children can also obtain a Jordanian passport if they are:
- Are under the age of 18 years;
- Are unmarried, widowed or divorced;
- are financially dependent on the investor.
The deadline for obtaining citizenship by investment is no more than three months from the date of application to the Jordanian Immigration Service.
It is compulsory to live in Jordan for at least one month before applying for citizenship. Once the passport is issued, the investor may leave the country.
Citizenship can be revoked if the investor violates the terms of the program, for example, by closing a bank deposit or repaying government bonds early.
A new opportunity for investors: a residence permit by purchasing real estate
An investor can obtain a residence permit in Jordan if he buys one or more properties in the country with a total value of 200,000 Jordanian dinars or from $282,000. The value of the properties in the transaction must be confirmed by an appraisal from the Jordanian Land and Survey Department.
The residence permit is issued for five years, during which time the investor remains the owner of the property. The property cannot be sold, demolished or mortgaged.
You do not have to live in Jordan either before or after obtaining a residence permit.
What gives citizenship and residence permits in Jordan
Visa-free travel around the world is only available to Jordanian nationals; residency status is not sufficient. Jordanian passport holders can freely enter 51 countries, such as Turkey and Hong Kong. But in most cases, a visa will need to be arranged on arrival.
Tax optimization. If an investor resides in Jordan for more than 183 days in a year, he can become a tax resident in Jordan. The company starts paying taxes in the country as soon as its head office is registered in Jordan.
Income tax in Jordan is levied on a progressive scale. For individuals, the rate will be between 5% and 30%, depending on the amount of annual income.
Legal entities usually pay income tax at a rate of 20%. But if a company is engaged in telecommunications, electricity production, insurance and financial services, the rate rises to 24%. Banks pay an income tax rate of 35%.
There is no double taxation treaty in force between Russia and Jordan. Therefore, if a person or company is a tax resident in Jordan but receives income from Russia, taxes will have to be paid in both countries.
Relocation and holidays in Jordan are available to nationals and residents without restrictions on entry and exit.
Jordan is located in a region with an unstable political situation where armed conflicts are not uncommon. But despite the unrest in its neighbors, Jordan has been ranked among the safest countries in the world in 2018. Natural disasters rarely occur in the country, and crime rates are lower than in France, Italy and the US.
Jordan has 330 days of sunshine a year. The hottest month is August, when temperatures average highs of +32°C. January is the coolest, at around +12°C. Two seas, the Red Sea and the Dead Sea, bathe the shores of the country.
Tourists can visit Petra, an ancient rock-cut city, take a jeep tour through the Wadi Rum desert and explore the rich underwater world of the Red Sea.
Al Khazneh is a Nabatean temple in Petra. Included in the UNESCO list of Monuments and the New Seven Wonders of the World
The Wadi Rum desert was the setting for the Hollywood blockbuster film 'The Martian' starring Matt Damon
The Dead Sea coast, a unique natural landmark in Jordan
Which countries grant citizenship and residence permits by investment
Citizenship by investment is granted by five Caribbean countries, Vanuatu and Montenegro. In Malta, an investor can become a citizen by naturalization - for Exceptional Services by Direct Investment.
A Caribbean passport and a Vanuatu passport will cost an investor 10 times less than a Jordanian passport. Meanwhile, Caribbean and Vanuatu citizens travel visa-free to more than 130 countries, including the Schengen Area, the UK, Singapore and Hong Kong.
Montenegrin's citizenship is granted for a mixed investment: a non-refundable contribution to the state fund and the purchase of real estate. Montenegrin passport holders can live, work and do business in the country and travel visa-free to Schengen countries, the UAE and Singapore. But the investor program is only valid until the end of 2021.
Malta only grants citizenship to investors who pass a rigorous due diligence process by buying or renting property in the country. In this case, the applicant first obtains a residence permit in the country and can apply for citizenship after a year or three years.
Maltese citizens travel visa-free to over 180 countries and can live, work and study in any EU country without restrictions.
Conditions for obtaining citizenship by investment
|Country||Investment||Deadline for obtaining a passport|
|Antigua and Barbuda||From $100,000||From 3 to 6 months|
|Dominica||From $100,000||From 2 to 6 months|
|St Lucia||From $100,000||From 3 to 4 months|
|Vanuatu||From $130,000||From 1 month|
|St Kitts and Nevis||From $150,000||From 2 to 6 months|
|Grenada||From $150,000||From 2 to 6 months|
|Montenegro||From € 350,000||From 4 to 6 months|
|Malta||From € 690,000||From 12 months|
Residence permits by investments – temporary or permanent – can be obtained in Portugal, Greece, Spain, the UK, Malta and Cyprus. In Austria and Switzerland, investors receive a special residence permit for financially independent persons without the right to work.
Conditions for obtaining a residence permit or permanent residence permit by investment
|Status and country||Investment||Deadline for obtaining a passport|
|Residence permit in Malta||From €30,000||From 3 to 4 months|
|Residence permit in Austria||From €100,000||From 3 months|
|Permanent residence in Malta||From €110,000||From 6 to 8 months|
|Residence permit in Portugal||From €250,000||From 2 to 6 months|
|Residence permit in Greece||From €250,000||From 3 months|
|Permanent residence in Cyprus||From €300,000||From 2 to 3 months|
|Residence permit in Switzerland||From ₣450,000||From 6 months|
|Residence permit in Spain||From €500,000||From 2 to 3 months|
|Residence permit in UK||From £2,000000||From 2 to 3 months|
Immigrant Invest helps investors obtain a second citizenship or residence permit by investment. If you want to become a citizen or resident of another country, seek advice from experts in investment programs.