Jordan: A Haven for Offshore Companies and Investors
Introduction
In today’s global economy, investors are constantly on the lookout for jurisdictions that offer favorable conditions for their businesses. One such destination is Jordan, which has become a popular choice for offshore companies and entrepreneurs alike.
Advantages of Offshore Companies in Jordan
Offshore companies in Jordan, also known as “Offshore” or “Civil” companies, offer several advantages to investors. These advantages include:
- Exemption from paying taxes on foreign-sourced income, thereby reducing the risk of double taxation between the state of registration and the state of work.
- The ability to operate independently without being subject to the same regulations as local businesses.
This makes offshore companies in Jordan an attractive option for entrepreneurs who want to minimize their administrative burdens while still benefiting from the country’s business-friendly environment.
Types of Offshore Companies in Jordan
Jordan has several types of offshore companies, including:
Offshore Company
A company that is registered outside its country of origin and operates independently without being subject to local regulations.
Civil Company
A company that is registered locally but operates as an offshore company, exempt from taxes on foreign-sourced income.
Other Types of Entities in Jordan
In addition to offshore companies, Jordan has several other types of entities that offer entrepreneurs a range of options for setting up and running their businesses. These include:
Associations
Non-profit organizations registered under the Associations Law No. 51 of 2008.
Waqf
A religious endowment that is voluntarily dedicated to a specific purpose or cause.
Cooperative Societies
Member-owned businesses that operate on a not-for-profit basis and are registered under the Cooperative Societies Law.
Conclusion
Jordan has established itself as a popular destination for offshore companies and entrepreneurs. With its favorable business environment, low taxes, and range of entity options, Jordan offers a unique opportunity for investors to set up and run their businesses while minimizing administrative burdens. Whether you’re looking to establish an offshore company or explore other types of entities, Jordan is definitely worth considering.
Sources
- Ministry of Industry, Trade and Supply, Government of Jordan
- Jordanian Investment Commission (JIC)
- Jordanian Companies Registry Department