Residency in Jordan for Investors – Conditions and Procedures

Granting Residency in Jordan to Investors – Conditions and Procedures: Jordan is one of the countries with high human resources, enjoying strong economic and strategic relations with the Middle East, North Africa, and the world. The country stands at the forefront of social, economic growth, and sustainable development. According to Jordanian legislation related to investment, it has incentivized and encouraged Jordanian citizens as well as Arab and foreign nationals to invest in Jordan. Additionally, the Ministry of Investment has undertaken initiatives in line with the Investment Promotion Strategy 2023-2026, recently launching the ‘Invest in Jordan’ platform. In this article, we will first discuss the reasons that encourage investment in the Jordanian environment, then delve into our main topic of granting residency to non-Jordanian investors, reviewing the conditions and procedures along with the required documents for investors to obtain residency in Jordan.

There are several reasons for investing within the Jordanian state. Firstly, its strategic location as a unique link between the Asian and African continents, in addition to being a transportation hub between Middle Eastern countries. Secondly, the stable political environment despite being amidst conflict areas in the Arab territories surrounding Jordan from the east, north, and west, yet it maintains its security and fundamental stability. Thirdly, the abundance of qualified human resources and competitiveness through the availability of skilled and trained workforce, with a high percentage of educated youth among the population. Lastly, the attractive Jordanian investment climate that exempts investors from various taxes and fees.

Granting Residency in Jordan to Investors through Real Estate Investment:

Foreign investors must obtain residency in Jordan to conduct their business and activities legally and comfortably. To grant foreign investors residency in Jordan, they must go through stages and conditions that must be met to enjoy residency rights in the country. Initially, there are two types of residency that can be granted to foreign investors: permanent residency and temporary residency. Regarding permanent residency, it has been stipulated in the criteria and controls for granting Jordanian citizenship or residency for five years in the Hashemite Kingdom of Jordan, where investors or ordinary individuals without investment can be granted residency for 5 years through purchasing real estate for housing purposes. The value of the property should not be less than (200,000) two hundred thousand Jordanian dinars according to the estimation of the Lands and Survey Department. Ownership of the property for housing purposes must be registered independently by one of the companies operating in the housing sector, a real estate developer, or individuals without relatives from the first and second degree. Additionally, the property must be retained for a period of no less than five years without disposal or mortgage.

For the procedures followed by the investor or their lawyer, the process begins with submitting an application to the Ministry of Investment along with personal data within a maximum period of 3 months from the date of purchasing the property. Afterward, the ministry contacts the relevant authorities to obtain the necessary security clearances. Then, the committee’s rapporteur presents the request to the special committee for investors’ approval (recommendation). Subsequently, the committee’s rapporteur contacts the Ministry of Interior to take the necessary steps and issue a decision regarding the residency, conditional upon placing a restriction on disposal or mortgage of the property for five years from the date of approval of residency issuance. As for the important documents required with the application, they include: a valid passport copy, registration deed, land plan, organizational site plan, sales contract, statistics card for bridges for West Bank and Gaza residents (if applicable), and an official bank-attested authorization for a person to proceed with the transaction.

Temporary Residency in Jordan for Investors through Bank Deposit:

The second type of residency granted to foreign investors is temporary residency, after submitting an application to the Lands and Survey Department for property ownership purposes, followed by applying for annual temporary residency through the Ministry of Interior and obtaining the ministry’s approval for the first time. The investor then makes a bank deposit of (10,000) ten thousand dinars in addition to registering the property in their name. There is no specific property value requirement for temporary residency issuance to foreign investors. Proceeding with the procedures at the Ministry of Interior – Residency and Borders building can be done directly by the person or through a lawyer with an authorized and authenticated power of attorney, along with paying fees of 30 dinars and stamp fees, to obtain temporary residency.

Residency in Jordan for investors through investing in companies and establishing businesses:

At the end of our article, investing in Jordan holds numerous benefits for both the investor and the country itself. Investors can obtain residency through their investments, based on the conditions mentioned above. It’s preferable to handle such matters through a lawyer, and we at Legal Network Jordan take pride in our specialized team for these tasks. Our team, considered among the most skilled in the legal field, excels in speed, accuracy, and client interests, backed by extensive experience. To ensure you, as an investor, obtain all your rights and understand all obligations, it’s crucial to collaborate with a competent team. For more information, visit our website and contact us.