INVEST IN JORDAN
The Jordan Investment Commission (JIC) constitutes an embodiment of His Majesty King Abdullah II vision for economic progress as a top national priority. His Majesty the King’s directives stressed the need to continue economic restructuring and modernization programs to achieve their desired objectives. They also emphasized the need to develop effective legislation, policies and procedures that enhance the competitiveness of the national economy, attract investments, facilitate their success, and eliminate bureaucratic constraints, in order to create employment opportunities, raise growth rates, and achieve sustainable development. The priorities of JIC are to lead and stimulate investment, ensure its sustainability, and help realize its desired impact of driving economic growth and job creation. Fulfilling this function requires the Commission to develop the investment infrastructure and increase its readiness through regulatory legislation, and then to pursue well-studied steps to promote investment and exports, build local and international partnerships, and increase the effectiveness of the investment window.
- Provide comprehensive information on investment opportunities in the Kingdom.
- Provide preliminary feasibility studies for promising projects.
- Registration and licensing of economic activities covered by the Investment Law within and outside the development zones through the Investment Window.
- Regulate the granting of incentives and advantages in accordance with the Investment Law.
- Provide After-care services.
- Promote exports and help open new export markets and increase the share of Jordanian exports in international markets.
To stand out in promoting investments and contributing to economic growth.
To stimulate and activate investments in the Kingdom by keeping pace with and developing infrastructures, and promoting investment opportunities and exports to increase the effectiveness of domestic and foreign investments and ensure financial sustainability.
Jordan has sought to establish a number of development zones, which aim to host the establishment of different economic activities that suit the competitive advantages enjoyed by each region. These zones, which are distributed throughout the Kingdom, are managed by development companies whose mission is to regulate the investment process and operate under the direct supervision of the Investment Commission. There are 16 development zones in Jordan, either in existence or under construction.
Free zones contribute to enhancing Jordan's status as a commercial center by facilitating the transit of goods and encouraging economic activity. Jordan has more than 40 zones that enjoy the free zone status.
The Commission assumes all affairs and powers related to the development zones and free zones including the following:
- Register the person who wishes to exercise the economic activity in the development zone in accordance with the provisions of the Investment Law.
- Establish and register the person in the free zone to exercise the economic activity within the free zone or outside of the Kingdom in accordance with the provisions of the Investment Law and the regulation issued for this purpose.
- Issue all types of licenses and certificates related to the exercise of economic activities in the development and free zones in accordance with the provisions of the Law and the regulations and instructions issued pursuant thereto.
- Expropriate the lands and real estate necessary for developing the development zones and free zones according to the provisions of the Expropriation Law.
- Exercise the powers of municipal council within the boundaries of the development zone or the free zone.
- The Investment Council shall exercise the authorities of the Higher Regulatory Council and form committees under the chairmanship of the president of the Commission that exercise the functions and authorities of district and local committees.
- Preserve the environment, water resources, natural resources and biological diversity in line with the Environment Law, and the regulations and instructions issued pursuant thereto in co-ordination with the concerned parties.
The Investment Window
The Investment Window at the Investment Commission, or the One-Stop window, is one of the most important means of empowering local and foreign investments by simplifying registration and licensing procedures for investment projects that benefit from the Investment Law.
The Investment Window includes fully authorized representatives of the government authorities concerned who have the authority to issue approvals and licenses for investment projects, as well as qualified staff from the Commission for procedure facilitation and follow-up.
Services provided by the Investment Window
- Provide information and technical advice to investors.
- Register companies and sole proprietorships within and outside the development zones
- Issue the licenses and the approvals necessary for economic activities to conduct their business and issue licenses to practice economic activity within the development zones.
The life cycle of the investment project and the role of the Investment Window
Benefits granted to a non-Jordanian other than exemptions and incentives
The non-Jordanian investor has the right to:
- Take out all or part of the foreign capital in a convertible currency according to the legislations in force.
- Transfer his generated revenues and profits of his investment outside the Kingdom.
- Liquidate his investment, sell his economic activity, his interest therein, or his shares or dispose thereof provided he/she fulfills his obligations to third parties or to the official authorities under the legislations in force.
- Manage his economic activity in the manner he deems appropriate and by the persons he/she chooses and the concerned authorities shall provide the necessary facilities for this purpose.
- For the purposes of implementation of the provisions of this Law, the non-Jordanian investor shall receive the same treatment of the Jordanian Investor.
- Non-Jordanian workers in any economic activity may transfer their salaries and compensations outside the Kingdom according to the legislations in force.
- Non-Jordanian has the right to own up to 100%, except in some economic activities that are determined by the regulation.
- Under the investment law no minimum capital required from a non-Jordanian investor.
For more information, please visit www.jic.gov.jo