Recently, a few days ago H.H. Sheikh Mohammed bin Rashid Al Maktoum Vice President of the UAE has tweeted and unveils about this surprising gift. On 21st May at 2:52 pm, Sheikh Mohammed did this tweet and allows a permanent residency visa holding Dubai residence will be offered to 6800 in the first round.
According to them, the golden card will grant permanent residence to investors, doctors, scientists, artists with dh100 Billion of investment.
In the second tweet of Sheikh Mohammed, they unveil some more about “The Golden Card”. They said that “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.”
From their tweet, it is very clear that Dubai is always one step ahead to keep its economy growing and making well. This move will surely impact on the market and also a huge growth in the business industry.
Mostly, expats come to Dubai with a goal of making money and this long term residency plans makes them free to set-up their business as a home without any risk or don’t need to move with a permanent plan.
General Mohammed Ahmed Al Marri, also confirmed that the department has started his work and they are reviewing applications for the selection procedure.
The future stability of various business and industries depends upon “The Golden Card” and drive more professionals to the country. Also, the property market, Economy of UAE gets huge benefits from this step.
This latest announcement comes after the last year announcement of UAE about 5 years or 10 years of residency visa to investors, entrepreneurs and specialists to making business at the new hike and more investments.
Just the same as UAE, Saudi Arabia has also launched “Green Card Residency Scheme” for expats. This residency scheme is aimed to attract wealthy expats, specialists and more business starters; also they don’t need a Saudi sponsor to stay in Saudi under this residency scheme.
According to this law, the holder of this permit can easily own and lease, recruit workers as well as also their family member visit the country without any specific action.
To know more about the process of Permanent Residency Gold Card System and how you can benefit from it, give Business Link UAE our expert business consultants a call at +971 43215228 or email us at info@businesslinkuae.com.
