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Sheikh Mohammed announces UAE permanent residency scheme

WAM/Dubai
Filed on May 21, 2019 | Last updated on May 21, 2019 at 02.02 pm
Sheikh Mohammed announces UAE permanent residency scheme

(Wam file)

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.

Also read: 6,000 apply for 5, 10-year UAE visa

 

The Golden Card offers unprecedented benefits to the cardholders and their families while creating an attractive environment for business and growth.

"Throughout history, the UAE opened its door to millions of people looking for to pursue their dreams and better their lives. The Golden Card is our way to welcome all those seeking to be a part of the UAE's success story and making it a second home," said Sheikh Mohammed bin Rashid.


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.

Also read: Long-term UAE visa announced for 100 companies

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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