ARN News Centre

Indian investor Yousuf Ali gets first UAE 'Golden Card'

Tuesday, 4 June 2019 07:48

Indian billionaire Yousuf Ali is the first expat to be granted permanent residency in the UAE.

The Chairman of the Lulu International Group was given a 'Golden Card' by authorities on Monday.

He is the first of 6,800 investors with total investments of AED 100 billion who will get lifelong residency under a new scheme that was announced last month.

The initiative is expected to benefit investors and exceptional talents in the fields of medicine, engineering, science and arts.

Ali is also a Board Member of the Abu Dhabi Chamber of Commerce and Industry.

More from UAE

H.H. Sheikh Mohammed reviews Dubai Police projects worth AED 2 billion

His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE has reviewed Dubai Police's latest development plans and projects worth AED 2 billion.
Training aircraft involved in accident in Fujairah

The UAE's General Civil Aviation Authority (GCAA) is looking into a training aircraft accident that occurred in Fujairah airspace.
UAE President stresses importance of accelerating climate action

The UAE's President His Highness Sheikh Mohamed bin Zayed Al Nahyan attended the opening session of the COP29 World Leaders Climate Action Summit in Baku, Azerbaijan, on Tuesday.
Construction of aerial taxi vertiport begins near DXB

Dubai has commenced the construction of its first aerial taxi vertiport near Dubai International Airport, which is expected to be operational in 2026.