Recently, a few days ago H.H. Sheikh Mohammed bin Rashid Al Maktoum Vice President of the UAE tweeted and unveils 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, and artists with dh100 Billion of investment.
Golden Card System
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 the market and also a huge growth in the business industry.
Mostly, ex-pats come to Dubai with the goal of making money and this long-term residency plan 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 its work. 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 the UAE gets huge benefits from this step.
This latest announcement comes after last year’s announcement of UAE about 5 years or 10 years of residency visa to investors, entrepreneurs, and specialists. To make business at the new hike and more investments.
Green Card Residency
Just the same as UAE, Saudi Arabia has also launched the “Green Card Residency Scheme” for ex-pats. This residency scheme aims to attract wealthy ex-pats, 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, and recruit workers. As well as also their family member visit the country without any specific action.
To know more about the process of the 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.
