JORDAN CITIZENSHIP BY INVESTMENT
Overview Sandwiched between Syria, Israel, Iraq and Saudi Arabia, Jordan, officially called the Hashemite Kingdom of Jordan, is strategically located at the crossroads of Asia, Africa and Europe. landlocked in a conflict-prone region. The country is considered to be an oasis of stability in a conflict-prone and turbulent region and has been accepting refugees from neighbouring countries since 1948. The Kingdom has followed a pro-Western foreign policy and maintained close relations with the US and the UK.
Health and Education Life expectancy in Jordan was around 74.8 years in 2017. Jordan has a well-developed health sector, with some of the best facilities in the region, is known as a medical tourism destination. Jordan has both public and private institutions. In 2007, Jordan Hospital, the biggest private hospital, was the first general speciality hospital to gain the international accreditation JCAHO. The Jordanian educational system delivers 14 years of free education, 10 years of which is compulsory. The literacy rate is 98.01% (2015 UNESCO), the highest in the Middle East and Arab world and one of the highest in the world with UNESCO ranking Jordan’s educational system 18th out of 94 nations for providing gender equality in education. Jordan has 10 public universities, 19 private ones and 54 community colleges.
Transport Jordan is ranked as having the 35th best infrastructure in the world (one of the highest rankings in the developing world) according to the 2010 World Economic Forum’s Index of Economic Competitiveness. Jordan has three international airports, with two in Amman in the north and one in Aqaba in the south. Queen Alia International Airport in Amman is the main one and is the hub for national carrier Royal Jordanian Airlines. Aqaba boasts the only port in Jordan.
Lifestyle With its varied landscape, Jordan offers equally varied lifestyle opportunities, from scuba diving at Jordan’s Red Sea seaside destination in the south, to floating in the Dead Sea (the lowest natural point on Earth’s surface), to horse-riding across the dramatic desert expanse of Wadi Rum with its sandstone cliffs and vivid-coloured dunes that so impressed Lawrence of Arabia. History and heritage are everywhere here and Jordan punches well above its weight in world-class monuments, with some of the finest Roman ruins outside Rome. In addition to the Citadel and well-preserved Theatre in Amman (the capital city considered to be one of the oldest cities on the planet), there is Jerash, just 30 miles north of Amman, one of the best-preserved Greco-Roman towns in the world. Then there’s the archeological site of Petra, an ancient Nabataean city that features a stunning landscape of tombs, carved facades, pillars and sandstone cliffs.
Climate Jordan has a varied climate. While the highlands above the Jordan Valley, mountains of the Dead Sea and Wadi Araba are dominated by a Mediterranean climate, the eastern and north-eastern areas of the country are arid desert. Summers, lasting May to September, are hot and dry, with temperatures averaging 32C, while winter is relatively cool averaging 13C.
Population 10 million
Languages Jordan’s official language is Arabic, though English is widely spoke throughout the country.
Religion Sunni Islam is practiced by around 95% of the population and coexists with an indigenous Christian minority.
Capital City The capital, Amman, is Jordan’s most populous city as well as the country’s economic, political and cultural centre.
Currency Jordanian dinar
GDP Per Capita $4,241.79
Economy Jordan has one of the smallest economies in the region, but one that is classified by the World Bank as an ‘upper-middle income’ country and is attractive to foreign investors based upon its skilled workforce. Jordan’s economy is relatively well diversified with trade and finance accounting for approx. one third of GDP, transportation and communication, public utilities and construction account for one fifth, and mining and manufacturing constituting another fifth. The country is a major tourist destination, including in medical tourism, and is leading the way in sustainable travel in the Middle East.
Did you know…? In addition to the CBI Programme, Jordan has a Golden Visa program offering permanent residency to overseas investors and their families for a fee. Any non-Jordanian can buy property worth at least $280,000 and must keep it for 10 years.
JORDAN CBI PROGRAMME
Overview While Jordan has had a naturalisation by investment scheme since 1999, one based on residency, it officially launched its Citizenship by Investment Program without residency requirements and to non-Arabs in February 2018.
Best for Getting your second passport secured quickly, in around 90 days.
Pros Quick processing times for its citizenship by investment programme. Extensive list of options applicants can obtain citizenship by investment, from investing in SMEs to buying bonds. Successful investors can obtain Jordanian passports for their spouses, as well as their children below 18 years and financially dependent parents. A safe and secure country within the Middle East region.
Cons Naturalised Jordanians are barred from political or diplomatic positions and from becoming members of the State Council for 10 years, as well as excluded from participation in municipal or village councils for 5 years. Visa-free access to very few countries. High minimum investment outlay.
USP The only citizenship by investment Programme in the Middle East region, making it an attractive option for ultra-high-net worth applicants from other Middle Eastern countries, such as Syria and Iraq.
Ease of processing The application process takes approx. 90 days, which involves approval by the Council of Ministers and the Monarch. No more than 500 persons are accepted for economic citizenship per year. As part of its processing, Jordan requires proof of complex investments.
Freedom of movement Jordan’s passport offers visa-free access to just 51 countries and this excludes all the major developed nations.
Investment options 5
JORDAN CBI INVESTMENTS
Option 1 Investment of $1.5m in treasury bonds at an interest rate to be decided by the Central Bank of Jordan (CBJ) for a period of 10 years.
Option 2 Investment of a zero-interest $1.5m deposit at the CBJ for five years.
Option 3 Purchase of securities to be valued at $1.5m from an active investment portfolio.
Option 4 Investment of $1m in Small and Medium Enterprises for five years.
Option 5 Investment of $2m in an investment project in any location in the country or $1.5m 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.
JORDAN CBI RANKINGS
Passport Ranking (Henley Passport Index Q4 2020) 89 / 109
CBI Programme Ranking (CBI Index 2020, Financial Times) 45% / 14 out of 14 countries
Ease of doing business Ranking (Doing Business 2019, The World Bank) 75 / 190
Economic Freedom (2020 Index of Economic Freedom) 66 / 186
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