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UAE grants permanent residency to investors with $27b

UAE grants permanent residency to investors with $27b

DUBAI: The United Arab Emirates on Tuesday granted permanent residency to foreigners who had invested a total of $27 billion in the country.

According to media, the residencies have been given to 6,800 people under a new program dubbed as the “Golden Card”. However, “exceptional” doctors, engineers, scientists and artists could also be eligible.

“We launched a new ‘Golden Card’ system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists,” Prime Minister Sheikh Mohammad bin Rashid Al Maktoum said on Twitter.

“The first batch of 6,800 investors with Dh100 billion worth of investments will be granted the ‘Golden Card’.”

The UAE premier further said the permanent residency “Golden Card” will be granted to exceptional talents and everyone, who positively contributed 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,” he said in another tweet.