The Federal Authority for Identity and Citizenship (the Authority) recently announced the Golden Residence Permit in the Emirate of Abu Dhabi. The visa was issued in consequence of the Cabinet Decision Number 56/208 (the Decision) – permanent residence for the investors. The Authority had initiated a communication program in UAE for the eligible investors for the Golden Residence Permit to make them knowledgeable for the latest law and its benefits.
The Authority issued the visa as their part of the "Investors Permanent Residence System" aiming to help and guide the investors who qualify for the same.
The LuLu Group Chairman became the first expatriate to obtain the Golden Card from the Authority. According to Forbes Magazine, the Keralite businessman is claimed to be the wealthiest expat in the country. This permit was issued to him during the ceremony at the Abu Dhabi Chamber of Commerce and Industry, also honoring him for his part in the economic growth of the country.
The Authority also connected with the business leaders and investors abroad, promoting the economic and social benefits of investing in the UAE. It is stipulated in the Decision the specific terms concerning the 'Golden Card' as well as other classes and privileges are given, and conditions ought to be fulfilled for the eligibility.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.