Jordan Could Exclude Israelis from 'Nationality for Investment' Incentive

Published February 22nd, 2018 - 07:59 GMT
The Cabinet set several conditions for individuals seeking to obtain Jordanian citizenship (AFP/File Photo)
The Cabinet set several conditions for individuals seeking to obtain Jordanian citizenship (AFP/File Photo)

A group of Jordanian MPs on Wednesday called for excluding Israelis from a recent decision to grant nationality to individuals who invest in the country under certain conditions.

In a memorandum they submitted to the Lower House speaker’s office to be forwarded to the government, a total of 18 lawmakers demanded that the government reword its recent decision to grant facilities to investors, including nationality, so that Israeli businesspeople are ineligible to benefit from the incentive.

The memo did not mention whether 1948 Palestinians, who hold Israeli citizenship, should be included in the exception, but they stressed that “Jewish” investors must be banned from benefitting from the new regulations, which are aimed at luring capital into the country.

The Cabinet on Monday set several conditions for individuals seeking to obtain Jordanian citizenship, including a zero-interest, five-year $1.5 million deposit at the Central Bank of Jordan (CBJ), or buying treasury bonds valued the same amount at an interest rate to be decided by CBJ and for a period of no less than 10 years.

Under the recent decision, investors can also buy securities at $1.5 million, from an active investment portfolio or invest $1 million in SMEs for five years at least to become a Jordanian national.

To obtain permanent residency, any non-Jordanian can buy a property worth no less than JD200,000, provided that the Lands and Survey Department confirms the value, for 10 years without selling the property in question or dispose it in any manner.

 

 

This article has been adapted from its original source.


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