In a first, UAE offers permanent residency to expats

Published: May 21, 2019
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First batch of beneficiaries will include 6,800 investors whose total investments are over 100 billion dirham. PHOTO: AFP/FILE

First batch of beneficiaries will include 6,800 investors whose total investments are over 100 billion dirham. PHOTO: AFP/FILE

In a bid to attract foreign investors and professionals, the United Arab Emirates (UAE) has launched a permanent residency system dubbed “Golden Card”.

Under the initiative long-lasting residency will be granted to investors, exceptional professionals in various fields including medicine, engineering and science.

Sheikh Muhammad Bin Rashid Al Maktoum, vice-president and prime minister of the UAE and ruler of Dubai, on Tuesday launched the permanent residency system.

Taking to his Twitter handle, Sheikh Muhammad says: “Today, we have launched the permanent residency system “Golden Card”.

The first batch of beneficiaries will include 6,800 investors whose total investments are over 100 billion dirham and the privileged card will only be granted for distinguished individuals, exceptional talents and anyone who contributes positively to the success story of the UAE, he added.

“We want them to be permanent partners going hand in hand with us in our journey. All residents in the UAE are our brothers and part of our great family in the UAE,” said Sheikh Muhammad in another tweet.

A week earlier, the UAE had also introduced a six-month multiple-entry interim visa for non-UAE residents seeking long-term investment visa in the Gulf state.

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