Daijiworld Media Network (SR)
Dubai, May 22: In a unique initiative, Vice President and Prime Minister and Ruler of Dubai His Highness Shaikh Mohammad Bin Rashid Al Maktoum on Tuesday launched a permanent residency scheme for investors, exceptional professionals in various areas including medicine, engineering, and science in UAE.
In a tweet, Sheikh Mohammed bin Rashid Al Maktoum said, “We launched a new 'Golden Card' system to grant permanent residency to investors and exceptional doctors, engineers, scientists and artists. The first batch of 6,800 investors with Dh100 billion worth of investments will be granted the 'Golden Card'.”
He also said, “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.”
CEO of Allsopp & Allsopp Lewis Allsopp said, “The move will have a positive impact on the local property market and it allows expats to look at Dubai as a home rather than a temporary plan. Most expats have a money-making mindset when they move to Dubai with a short-term plan and goal before moving back to their home country.”
Maj Gen Al Rashedi said the measures will attract highly skilled expats and investors from around the world to make the UAE a centre for knowledge and global investment. The decision aims to maintain the position of the UAE as an optimal business environment.