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.
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.”
— HH Sheikh Mohammed (@HHShkMohd) May 21, 2019
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.
