IMC | Jordan Company Formation

JORDAN

Jordan is well located at a regional entry point, being well associated with neighboring countries and global markets through modern transportation and communication networks. Jordan’s trendy infrastructure aids businesses navigate the world more rapidly and comfortably, and move their product and service into markets with ease. The Jordan Investment Board established by the government for the company formation in Jordan. Jordan is a free market directed economy, with outward-oriented economic policies and a non-public sector led approach. Jordan is a member of the World Trade Organization (WTO) since 2000. It entered into a Free Trade Agreement (FTA) with the USA in 2000 and an Association Agreement with the European Union in 2001. This apart, the Kingdom is a member of the Greater Arab Free Trade Area (GAFTA), consists of 17 Arab countries. Jordan also entered into an FTA with Singapore.

Company Formation in Jordan

  • Jordan’s continuing efforts to adopt state of the art standards in providing services, the Jordan Investment Board proudly introduced its One Stop Shop (OSS) service.
  • A LLC Company Formation in Jordan have limited liability on shares.
  • For Subsidiary company formation in Jordan, You have the option to set expiration time for this branch. It can do work inside Jordan.

 Licensing in Jordan

  • The OSS service aims at providing licensing and registration services for new projects.
  • Company Formation in Jordan license granted by the qwedetent authorities

 ACCOUNTING AND TAX

  • The Jordanian tax law does not define residence for tax purposes, but a company that is registered in Jordan is deemed to be resident. For a foreign entity to operate for any period of time in Jordan, i.e. even one day, it must be established and registered with the authorities.
  • Income derived from Jordan or from Jordanian sources is taxable
  • Dividends distributed by a resident company generally are exempt from tax, with special rules regarding add-backs and distributions to banks and other financial institutions
  • Income derived from capital gains generally is exempt, except for capital gains on assets subject to depreciation, intangible assets (e.g. goodwill) and capital gains recognized by banks, financial brokerage companies, financial institutions, insurance companies and juristic persons conducting financial lease activities
  • No Foreign exchange Control

Type Limited Liability Company (WLL)
Under Jordan law, foreigners can own 49%
Share Capital 30,000 JD
Memorandum and Articles of Association Required
Shareholders Minimum Two
Can the entity hire expatriate staff in Jordan Yes
Tax Registration Certificate Required Yes
Statutory audit required Yes
How long to open Corporate Bank Account One Day
Annual Return Must be filed
Annual Tax Must be filed

NEWSLETTER

To get to know about our detailed case study, please subscribe us.