Sunday, November 24, 2024

UAE launches Gold card permanent residence scheme

UAE launched the permanent residence system “Golden Card”. This special status of permanent residence will be given to for investors and exceptional competencies in the fields of medicine, engineering, science and all art fields. This announcement was made today by Ruler  of Dubai, HH Sheikh Mohammed

 

The first batch of permanent residence Gold Cards will be issued to 6800 investors, who made with a total investment of AED 100 billion ($27.2 bn). The Gold card scheme is similar to the US Green card issued to permanent residents.

 

 

UAE currently offers long term residence permits to  real estate owners, investors, entrepreneurs, special talents since opening of the scheme in Feb 2019

 

  • Real estate – AED 5 million.
  • Public investments – AED 10 million
  • Entrepreneurs – AED 500,000
  • Exceptional Talents

 

UAE has eased visa rules recently to attract foreign investment making it easy for expats to live, work and do business in UAE.

 

Last year the cabinet approved sweeping measures such as 100% foreign ownership in companies,  and issuing 10 year visas for investors, and exceptional talented persons. etc.

 

 

Prabhu Balakrishnan
Prabhu Balakrishnan
Founder of Citizenship by Investment News. Chief Editor with over 15 years experience in PR and News publishing. He Loves writing about citizenship, residency and wealth migration. CIP Journal is a Leading publication founded in 2017 bringing latest news from CBI/RBI market.

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