UAE Announces Permanent Residency Visa Scheme “Golden Card” for Investors and Exceptional Talents
On Tuesday UAE announced a new permanent residency visa scheme named “Golden Card” for investors and residents in UAE. The new scheme of “Golden Card” was announced by Sheikh Mohammed Bin Rashid, Vice President of the UAE and Dubai Ruler on twitter.
Sheikh Mohammed Bin Rashid tweeted “The permanent residency “Golden Card” will be granted to exceptional talents and everyone who positively contributes to the success story of the UAE. We want them to be permanent partners in our journey. Residents are an indispensable part of our country.”
The permanent residency will be granted to investors, exceptional doctors, engineers, scientists and artists. First batch of beneficiaries includes 6800 investors with investments worth an estimated DH100 billion have been selected for "Golden card".
The Indian investors and expats in UAE has wholeheartedly welcomed the new “Gold Card” initiative by the UAE government. The gold card scheme offers huge benefits to the card holder and his family. Multiple members of a family became eligible for the same residential rights. It is indeed a great news for Indian residents in UAE because the major part of the population of UAE constitutes of Indians.
The permanent residency “Golden Card” scheme will generate more foreign investments and attracts engineers, doctors, entrepreneurs and students to UAE. The “Golden Card” scheme is expected to strengthen the UAE economy and boost the property market.