ICA issues first UAE Permanent Residency 'Golden Card' in Abu Dhabi

UAE’s Federal Authority for Identity and Citizenship (ICA) has issued the first Golden Residence Permit in Abu Dhabi, as part of the Investors Permanent Residence System aimed to attract investors, entrepreneurs and qualified individuals who meet its criteria.

Brigadier Saeed Salem Al Shamsi, Executive Director of the General Directorate of Residency and Foreigners Affairs in Abu Dhabi, awarded the first permit to investor Yousuf Ali, Board Member of the Abu Dhabi Chamber of Commerce and Industry, ADCCI, and Chairman of the Lulu International Group, during a ceremony that also honoured him for his role in promoting economic growth in the country. The Abu Dhabi-based Keralite tycoon is worth 4.7 billion dollars and has been ranked the richest expat in UAE according to Forbes magazine's 2019 list of billionaires. A delighted Yousuf Ali said that it was a very proud and emotional moment in his life . He has been in UAE for more than 45 years. 

He said, this was an honour not only for him but for the entire expat community , especially those from India who have been living in UAE for many years and for whom UAE has been a second home.

The UAE government had announced  that the first batch of 6,800 investors with 100 billion Dirhams worth of investments in the country will be granted the Golden Card.

The UAE Cabinet has



approved the long-term visa system for expatriates announced by the country earlier this year, while also confirming the criteria that need to be met.

The recently launched Permanent Residency system in UAE saw its very first beneficiary. Indian billionaire M. A, Yousouf Ali was given the Golden card under the Scheme in UAE on Monday. 

The programme is an outreach initiative for investors and business leaders of foreign origin. The UAE government last month had announced  that the first batch of 6,800 investors with 100 billion Dirhams worth of investments in the country will be granted the "Golden Card.

" Under this scheme exceptional doctors, engineers, scientists and artists will also be considered , Sheikh Mohammed bin Rashid Al Maktoum, the country’s Vice President and Prime Minister and Ruler of Dubai had said during the launch of the scheme. UAE which is home to expats of over 180 countries till now had a system of renewing visas for its expats every two years. 

The UAE has also started  five and 10-year residency visas to investors, entrepreneurs, specialists in the medical, scientific, research and technical fields, and ‘outstanding’ students to "facilitate business and create an attractive and encouraging investment environment" in the country.