Gov’t amends conditions to grant nationality to investors

AMMAN — Granting citizenship to investors is now linked to depositing $1 million at the Central Bank of Jordan (CBJ) instead of $1.5 million under a Cabinet decision made on Wednesday.

Under the new decision, the term of the zero-interest deposit is reduced to three years instead of five, the Jordan News Agency, Petra, reported. 

Similar changes have been made to the second option, which will now allow investors to buy Treasury bonds valuing $1 million, instead of $1.5 million, with an interest rate to be decided by the CBJ, and for a period of no less than six years instead of 10. 

Following the amendments, investors could buy securities at a value of $1 million instead of $1.5 million, from an active investment portfolio.

Investors can also invest $750,000 instead of $1 million in SMEs and for a period of at least three years, instead of five to become a Jordanian national. 

Changes to the fifth scenario grants the nationality in exchange for a $1.5 million instead of $2 million investment in any location in the country, or $1 million instead of $1.5 million, if the project is registered in any governorate other than Amman, provided such a project creates at least 20 job opportunities and remains operational for at least three years. 

To obtain a five-year residency, any non-Jordanian can buy a property worth no less than JD200,000 for five years without selling the property in question or dispose it in any manner.