Is it necessary to be of the Jewish faith in order to enter the Paradise of the Next World? What are the requirements to enter Paradise?

It is not necessary to be Jewish to get into Heaven or Paradise. Before G-d entered into a special Covenant with Israel, He had already entered into a Covenant with all of mankind. This Covenant is known as the Noahide Covenant. The terms of this Covenant require all of mankind to observe seven categories of laws. These categories are: prohibitions on theft, murder, adultery and incest, idolatry, blasphemy and eating meat that is taken from a living animal. There is also a requirement to establish a judicial system that can fairly enforce the six prohibitions and maintain a just society. A non-Jew who, out of devotion to G-d, is faithful to the Noahide Covenant, is also assured of a place in Paradise. You can learn more about the Noahide covenant from the First Covenant Foundation.