CITIZENSHIP & RESIDENCY: Jordan to offer citizenship in return for $1 million deposit, investment.

As published on english.alaraby.co.uk, Monday 13 September, 2021.

Investors can now obtain a Jordanian passport if they invest at least $1 million in the local economy, according to amendments made on Sunday to the country's citizenship law.

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.

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.

It is hoped the scheme will create job opportunities for Jordanians by pumping more money into the country via investments.

Jordan has one of the highest unemployment rates in the Middle East and North Africa region, with nearly one in five people out of work.

Jordanian Interior Minister Mazen Al-Faraya revealed on Sunday that 206 people have become nationals since March 2018, when the citizenship by investment law was first introduced.

He noted the number was small, saying the new amendments should encourage more investment in the kingdom.

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