M.A Yusuf Ali Gets First Gold Card in UAE

The UAE Federal Authority for Identity and Citizenship on Monday announced that it had issued its first gold card to Indian resident and business leader M.A. Yousuf Ali. Ali, who is the chairman and managing 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 became the first of 6,800 residents to receive permanent residency.

The gold card represents the UAE’s permanent residency scheme that was announced in May. Recipients who are handed a gold card will have permanent residency status in the UAE. Benefits of the gold card also extend to the gold cardholder’s family.

the gold card IN UAE is part of a permanent residency scheme for investors, entrepreneurs, specialized talents, researchers and outstanding students residing in the UAE, with 6,800 residents from 70 countries already identified as qualifying for the gold card.

The benefits of the gold card also extend to the recipient’s immediate family members, such as his wife and children, who are also provided with permanent residency status.

The UAE has also announced 10 and 5-year, visa programmers.

To qualify for the 10-year visa, investors must have a public investment of no less than Dh10 million (SR 10.2 m). For a five-year visa, an investor’s total investment in real estate should not be less than Dh5 million (SR 51 m). As with the permanent residency scheme, the benefits of the 10 and 5-year visa programmers can also be used to sponsor one’s family and also be renewed.

As well as business leaders and investors, the 10-year visa program is also opened for scientists and researchers, with 20 scientists have received the 10-year visa in January. Entrepreneurs and outstanding students may also apply for the 5-year visa plan.

Source: Gulf News