Kuwait City: Kuwait has granted its first 15-year Golden Residency to Indian businessman Yusuff Ali M A, Chairman and Managing Director of Lulu Group International, marking a significant step in the country’s efforts to attract foreign investment.
In a statement on X, Kuwait’s Ministry of Interior said First Deputy Prime Minister and Minister of Interior Sheikh Fahad Yousef Saud Al Sabah presented the residency permit to Yusuff Ali during a ceremony held on Tuesday, July 14.
Golden Residency to boost investment
The ministry said the Golden Residency introduces a long-term residency framework designed to strengthen Kuwait’s investment ecosystem. The initiative aims to attract high-value investors, enhance the country’s economic competitiveness and operate under clear eligibility criteria aligned with international best practices.
Kuwait unveiled the Golden Residency programme on June 15, allowing eligible foreign investors and their immediate family members to obtain residency permits valid for up to 15 years. The scheme also covers accredited senior executives and approved partners associated with investment entities operating in the country.
The programme forms part of Kuwait’s broader strategy to attract foreign capital, encourage strategic investment and accelerate economic diversification.
About Yusuff Ali
Yusuff Ali, a 70-year-old Indian entrepreneur from Kerala, heads Lulu Group International, one of the Middle East’s largest retail and business conglomerates with operations across the Gulf, India, Egypt and Southeast Asia. He was awarded the Padma Shri, India’s fourth-highest civilian honour, in recognition of his contribution to business and trade.
