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Indian businessman Yousuf Ali gets first Gold Card in UAE

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Abu Dhabi: The Federal Authority for Identity and Citizenship on Monday announced that it had issued its first gold residence card to Indian business leader Yousuf Ali.

Ali, who is the chairman and director of Lulu Group, was handed the gold card in Abu Dhabi by Brigadier Saeed Salem Al Shamsi, executive director of the General Directorate of Residency and Foreign Affairs, as he becomes the first of 6800 investors to receive the permanent residency. The first batch of beneficiaries are investors with total investments exceeding Dh100 billion.

Unlike the long-term visa of five to ten years for businessmen and talented individuals, the Gold Card gives permanent residency to the holder.

UAE is the second home for more than 200 nationalities, and now they can make the UAE their permanent home after the introduction of the gold card with the confidence that their generations can stay on.

The new permanent visa is expected to help generate foreign investment and attract exceptional talent in the field of engineering, science and arts. The first batch of beneficiaries are investors with total investments exceeding Dh100 billion.

Source: Gulf News

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