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Yusuff Ali, a non-emirati becomes the first to receive the gold card permanent residency. Ali is the the chairman of Abu Dhabi-based Lulu Group.
What’s It?
Yusuff Ali, the chairman of Abu Dhabi-based Lulu Group is the first expat to receive the “Golden Residence Permit“. Yusuff is worth $4.7 billion and is ranked the richest expat in the UAE by Forbes magazine.
The gold card scheme was brought into effect last month by HH Sheikh MohammedHH Sheikh Mohammed bin Rashid Al Maktoum Vice President and Prime Minister of the UAE and Ruler of Dubai. The card grants permanent residency for non-Emiratis in the UAE.
For starters, a batch of 6,800 investors who have made investments worth AED 100 billion will be granted the Golden Card.
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.
— HH Sheikh Mohammed (@HHShkMohd) May 21, 2019