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Heading: UAE announces a permanent residency scheme the GOLD CARD Posted On: 21 May, 2019

The first batch of permanent residence will be given to 6,800 investors.

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE and Ruler of Dubai, has launched the ‘Golden Card’ scheme to grant permanent residency benefits to investors, entrepreneurs, specialised talents, researchers, and outstanding students.

The new permanent residency initiative has identified the first 6,800 qualified expats from over 70 countries, to benefit from the Golden Card scheme’s unprecedented benefits.

The Golden Card will be granted to qualifying investors, entrepreneurs, professional talents, researchers in various fields of science and knowledge, and outstanding students. The new initiative will attract greater foreign investment and stimulate the local economy, making it more efficient and attractive for investors. It will also increase the UAE’s competitiveness and reaffirms the country’s position as a global incubator

The current investments of the identified 6,800 residents are estimated at AED100 billion.

The benefits of the permanent residency also include the spouse and children of the cardholder to ensure cohesive social ties.

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