The Golden Card visa is among the latest initiatives of the United Arab Emirates (UAE) government to attract more investors, brilliant people, and expert professionals to come and live in their wealthy country. After the announcement of the gold card issue to UAE residents, thousands of people have been identified to benefit from this visa scheme.
But first, you might ask, what is the Golden Card visa?
Initially, the Golden Card visa caused some confusion among people. Since the specific terms and conditions of the visa are still being finalised when it was announced, some details are not yet clear.
Now that’s Golden Card visa is officially available, people are now discovering what it is all about.
Basically, Golden Card visa holders would qualify for either a 10-year visa or five-year visa. According to Decree no. 56 of 2018, there are three categories of residency permits within the Golden Card visa. These include special talents, entrepreneurs, and investors.
Those who qualify for a 10-year visa are those who have invested at least Dh10 million in the UAE. Entrepreneurs and people with special talents would quality for a five-year residency. If you need more help in understanding the Golden Card visa, lawyers in Dubai will give you the information needed.
Last May of 2019, a list of possible beneficiaries of the Golden Card visa was released. It identified around 6,800 expatriates from more than 70 countries.
Since the availability and issuance of the Golden Card, there are now people who have taken advantage of it.
Perhaps, the most notable person who acquired the Golden Card is the person who first obtained it – Yusuff Ali.
Yusuff Ali is the managing director and chairman of the Lulu Group. He is known to be the retail king of the Middle East for putting up a chain of hypermarkets throughout the region. Not only that, but he is among billionaires on Forbes’ list of wealthiest people in the Middle East.
Since then, other people have been the recipient of the Golden Card visa. According to the Dubai news, here are some of them:
- Vasu Shroff, the chairman of the Regal Group of Companies
- Khushi Khatwani, managing director of the Khushi Group of Companies
- Azad Moopen, managing director of the Aster group
- Rizwan Sajan, Danube Group Chairman
- Dr. Shamsheer Vayayil, VPS Healthcare chairman
- Firoz Merchant, Pure Gold Group chairman
- And others.
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