UAE unveils new permanent residency scheme for expats

DUBAI: Vice President and Prime Minister of the UAE and Ruler of Dubai, His Highness Sheikh Mohammed bin Rashid Al Maktoum on Tuesday announced a permanent residency scheme for select expats.

“We have launched a permanent residence system ‘Gold Card’ in the UAE for investors and exceptional competencies in the fields of medicine, engineering, science, and arts. The first batch of permanent residence will be given to 6800 investors whose total investments are Dh100 billion,” Sheikh Mohammed said in a tweet.

In a second Tweet, Sheikh Mohammed said that “the permanent residency “Golden Card” will be granted to exceptional talents and everyone who positively contributes 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 concluded.

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According to the Dubai Ruler’s official Twitter handle, around 6,800 people with a total investment of $27.2bn (AED100bn) will benefit from the scheme under the first round of applications.

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