On September 13 of this year, significant changes were made to the current conditions of the Jordan citizenship by investment program (the Hashemite Kingdom of Jordan). It became known that Investors now can obtain citizenship of Jordan if they invest at least $1 million in the country’s economy. The program started in 2018, but due to the high investment amounts (applicants needed to open an interest-free deposit for 1.5 million USD, or purchase government bonds for the same amount), there were few applicants. Note that after Turkey, Jordan became the second country in the Middle East to launch a citizenship program for investments. Basically, residents of neighboring countries who had business interests in the state sought to obtain a Jordanian passport. To date, only 208 passports have been issued with an annual quota of 500 documents.
The Kingdom of Jordan is a Western Asian, Arabic country on the Jordan River’s East Bank. Its population is a little bit more than ten million, and the GDP per capita is 9, 406 USD.
So, in an attempt to attract foreign investment and help the economy, Jordan has offered to grant citizenship for investors, which will also allow them to deposit money in the central bank, open a business, buy property, and more. It is hoped the scheme will create job opportunities for Jordanians by pumping more money into the country via investments.
The terms and conditions vary depending on how investors choose to invest their money and the sum but the new amendments also give relatives, children below the age of 18, and the parents of male investors the opportunity to obtain citizenship. Mind that only investors who become Jordanians via this program may keep they dual citizenship.
As of 13 April 2021, Jordanian citizens had visa-free or visa on arrival access to 52 countries and territories (Tied with Algeria), including Lebanon, Libya, Egypt, Oman, South Africa, Tunisia.
Obtaing citizenship of Turkey by investment will be much cheaper
As you know, the program “Turkish Citizenship by Investments” has existed since 2017, but few people then paid serious attention to it. Because the size of the minimum investment was 1 million USD. Now Turkish citizenship can be obtained for such an option as buying residential real estate in the amount of $250 000. And you can sell such real estate in 3 years, while retaining citizenship. Moreover, the Turkish real estate market is now on the rise.
You own real estate, and do not pay any contributions to the fund, unlike similar investment citizenship programs in the Caribbean or Montenegro. Only $250 000 for your property, your asset, and legal clearance services plus small fees.
Source: The New Arab
