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Booming Business: How to Open a Shop in Jordan


Booming Business: How to Open a Shop in Jordan

Are you interested in expanding your business into Jordan? Then this post will guide you through the sometimes confusing process of buying a commercial property and properly registering and setting up your business.

Buying a commercial property

According to Global Property Guide, as long as your country has a reciprocal relationship with Jordan, then you will be allowed to purchase commercial property even as a foreigner.

There are a few minor hoops to jump through, however, but nothing that should cause you too much trouble. Businesses and firms that wish to expand into Jordan must first gain approval from the Cabinet, and the agreement must be ratified by Jordan’s parliament. 

To get started, you should enlist the services of a real estate agent, as this is needed when purchasing any property in Jordan. A lawyer will also be a great help in sorting out any potentially confusing legal procedures.

To register a commercial property in Jordan you will need to obtain an official sale form from the Jordan Government agency known as the Land and Surveys Department. The Land and Surveys Department will also provide you with a certificate of ownership and a cadastral map. The Ministry of Finance can then provide you with a Tax Clearance.

Finally, both buyer and seller will unequally split a 10% registration fee to transfer ownership and finish the transaction.

Starting your business

Once you have secured a property, your next step is to start your business. But where should you begin? Well, according to Doing Business, you should start by opening a bank account and depositing 50% of your capital. After this relatively easy first step you will encounter the paperwork needed for properly registering and setting up your business.

But while you go about filling out various forms, you might want to consider putting up Help Wanted ads if your business is going to need some employees as soon as it opens. Consider putting a classified ad up on a site such as Dubizzle Jordan. This way you can search for potential employees while waiting for paperwork to go through.

As for the paperwork itself, you will luckily only need to visit the Company Registry at the Ministry of Trade and Industry. Here you will want to fill in the form of the memorandum and articles of association for your business, register your company, and obtain a certificate of registration in return.

These documents then need to be registered with the Chamber of Industry or the Chamber of Commerce, along with any rental contracts, formation contracts, and a certificate of authorized signatories. At the Company Registry you will also be able to register for corporate tax.

Finally, you will need to obtain a vocational licence from the municipality where you will be setting up shop, and you will also need to undergo a health and safety inspection. Once all of this is done, your very last step will be to register for social security, and then you will finally be able to open up shop in Jordan.

Robert McCoy is a small business consultant. He frequently writes about doing business abroad on business blogs.

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