By : Nedal Malo Alein
Jordan Daily – As discussions around Jordan’s economic landscape increasingly focus on the phenomenon of “investment flight,” it’s essential to address a pressing issue— the large-scale emigration of Jordanian investors and the subsequent economic impact of this exodus. With reports highlighting the transfer of funds abroad, the closure of investments, and a decline in domestic investment rates, it’s time we reassess our policies, particularly those related to citizenship granted for investment purposes.
In recent years, thousands of investors have been granted Jordanian citizenship, primarily as a means to attract capital. While this policy aimed to bolster the economy, it’s worth considering whether it has truly served its intended purpose. Citizenship granted for investment, I believe, should be reassessed once the original investment no longer exists.
There is a significant difference between natural-born citizenship and citizenship granted as an incentive. The latter should be contingent upon the continuation of the conditions under which it was originally awarded. Once those conditions are no longer met—such as the cessation of an investment— it would be prudent to reconsider the citizenship status.
This issue is delicate, and my intention is not to foster negativity. Jordan has always been and will continue to be a welcoming country . However, we must also consider the long-term costs associated with granting citizenship. When citizenship is awarded to an investor and their family, including parents, spouses, and children, it is inherited by future generations. Over two generations, the cumulative cost of citizenship—considering the rights and responsibilities that come with it—could very well exceed the initial value of the investment.
Jordan does not face a population decline ; there is no pressing need to increase our population density. Moreover, many individuals who were granted citizenship were previously restricted by their original nationalities.
These investors often found it difficult to travel or obtain visas for many countries, with Jordan being one of the few nations to welcome them. In many cases, citizenship was granted to facilitate their business operations. However, once the legal minimum period had passed, some of these investors transferred their entire investments to other, often more economically advantageous, countries. These individuals frequently leave Jordan without returning, leaving behind little more than a vacant apartment or a temporary academic enrollment for their children, which is then relocated abroad upon graduation.
Consider the following: If we estimate that 100,000 investors each made a minimum investment of 1 million dinars, we’re looking at a collective investment of at least 100 million dinars. In reality, the figures are likely much higher, reaching into the billions. Yet Jordan is left bearing the long-term costs associated with these individuals and their descendants—costs that the initial investments do not cover. Moreover, these naturalized investors often remit funds to their country of origin or other nations where they plan to relocate their businesses, further draining our economy.
This situation arises from a fundamental misunderstanding of what “investment localization” truly means. Genuine investment localization involves the establishment of sustainable, nationally-rooted investments that are not inherently tied to citizenship.
We see examples of companies with modest capital comprising more than five to ten investors, all treated as investors along with their families, some of whom have even obtained citizenship or special residency permits. We must scrutinize the true value of these investments and ensure they are not merely a façade for acquiring residency or citizenship.
Notably, many of those who have applied for citizenship are from countries with globally restricted passports. These individuals often face significant challenges in obtaining visas. We must avoid allowing Jordan to be used as a mere stepping stone—a temporary phase for individuals seeking to capitalize on Jordanian citizenship to facilitate their relocation and financial transfers. This behavior not only impacts our economic growth and development figures but also carries the risk of tarnishing our international reputation.
In my view, the solution lies in the government taking a bold step to revoke the citizenship of investors who have ceased their investments or left the country. Instead, we could offer them a form of privileged residency, similar to the golden visas offered by some of our neighboring countries. Alternatively, we could give them the opportunity to rectify their status by reinvesting in Jordan or opening branches of their businesses here, under specific conditions.
Jordan will always remain a haven for its neighbors and a land that shares its resources generously. However, we must balance our hospitality with strategic policies that safeguard our economic interests and ensure that the benefits of citizenship and residency align with our nation’s long-term goals.
The opinions expressed in this article are those of the writer and do not necessarily reflect the views or positions of the Jordan Daily.
