Buying real estate for Dh1 million could get you a citizenship in Jordan.
The Jordanian government on Tuesday announced that they will grant 500 permanent residencies or citizenships a year to investors.
This move by the government is to encourage investment in the kingdom, as per a report in Raialyoum.
Mohamed Al Momani, Minister of State for Media Affairs, an official spokesperson for the government during the press conference held on the matter said, “The Cabinet decided at the behest of the Minister of State for Investment to grant investors a permanent residency or citizenship status.”
Momani further said in the report that $1.5 milllion deposited in the Central Bank without interest for five years time, or buying treasury bonds worth $1.5 million, or buying stock in Jordanian companies worth $1.5 million or investing in small and medium enterprises for $1 million for a period of no less than five years, will earn the investors a citizenship.
Expanding further on the criteria, he added, “Any project with capital no less than $1.5 million outside the capital (Amman) and $2 million inside the capital, as long as 20 jobs are provided to Jordanians, registered with the social security institute, and projects ongoing for three years, are eligible.”