Company Formation Jordan
An emerging market with a liberal economy and a highly developed banking center containing a set of conservative strategies, Jordan has lately started to attract foreign investors who want to set up a company on its premises. Our company formation team can assist you with your business preparations as it can provide a multitude of alternatives tailored to your needs.
Legal entities in Jordan
As a foreign investor, you need to know that there are a few possibilities of forming a company in Jordan, namely: the limited liability company (LLC), the public limited company (LTD), the offshore company, the representative or the branch office, the latter two being however dependent on the mother company. Thus, the most common business form, preferred by many foreign entrepreneurs, is the limited liability company. Here are some of its demands that need to be met:
• minimum one shareholder (of any nationality);
• a share capital of minimum 70,650$;
• at least one director (does not have to be a Jordanian resident);
• if deciding to invest in a restricted sector, you need to enter in a joint venture compliance with a Jordanian partner.
Steps in registering a company in Jordan
1. The first step is opening a bank account in order to deposit 50% of the share capital. This is a demand that applies to all new businesses.
2. Then you need to register with the Ministry of Industry and Trade, not before submitting a few required documents such as an application for registration of the company and a receipt proving the capital deposit at the bank. For more information about the procedures of incorporating a company in Jordan, you can contact our team of experts.
3. Registering for VAT and obtaining a tax identification number are also part of the process and this step is to be completed at the Tax Office Agency.
4. At the Chamber of Commerce you have to register your company (if commercial activities are being conducted) filing some documents: the certificate of registration, copies of the IDs of the company's shareholders and directors etc.
5. Then you need to obtain a vocational license. This is done at the Greater Municipality of Amman and an application form must be submitted along with other documents.
6. Last, a health and safety inspection must be done by the Greater Municipality of Amman and then the registration for social security.
This registration process should not take more than two weeks. Further information and assistance on how to open a company in Jordan or incorporating some other form of business (in other countries as well) can be offered by our company formation agents, so do not hesitate to contact us.